Summary
Dr. Dele Alake reports that reforms by the Tinubu administration have revitalised interest in Nigeria’s mining sector. Initiatives include deploying mining marshals, launching an online Decision Support System for investors, and identifying vast mineral reserves. These efforts aim to enhance compliance and attract foreign investment.
The Minister of Solid Minerals Development, Dr. Dele Alake, has reported that recent reforms by the Tinubu administration have significantly boosted investor confidence in Nigeria’s mining sector. Speaking at the Nigeria Middle East Investors Expo and Awards, he detailed how the government’s renewed focus on solid minerals is attracting global interest and increasing revenue for the country. Alake highlighted his seven-point agenda, including the introduction of mining marshals to combat illegal mining, resulting in the arrest and prosecution of over 300 illegal operators. He announced plans for satellite monitoring of mining sites to ensure compliance and swiftly address illicit activities, stating, “We are making significant progress.” The Minister also pointed out Nigeria’s rich mineral resources, citing the identification of 40 million tonnes of talc deposits and extensive quantities of iron ore and lead across various states. He introduced the Decision Support System (DSS), an online platform designed to provide investors with detailed information on Nigeria’s solid minerals. Alake encouraged investors to explore opportunities in Nigeria, citing the presence of 44 globally sought critical minerals and a commitment to enhancing data collection to attract major international mining companies.
Dr. Dele Alake’s announcement comes as the Nigerian government seeks to revitalise the mining sector, recognising its potential for enhanced revenue and job creation. The focus on solid minerals is part of a broader strategy to diversify the economy away from oil dependency. The implementation of mining marshals aims to create a safer and more regulated mining environment by targeting illegal operations, which have been detrimental to official mining activities. Additionally, the introduction of digital tools like the Decision Support System is aimed at streamlining investor access to information, thereby improving the overall investment climate.
The reforms initiated by Dr. Dele Alake are designed to attract foreign investment, combat illegal mining, and provide better data to support exploration in Nigeria’s mineral-rich landscape. By leveraging technology and regulatory frameworks, the government aims to position Nigeria as a leading global destination for mining investment.
Original Source: tribuneonlineng.com