Summary
Nigeria is set to use its mineral resources to stimulate economic transformation, highlighted by the upcoming Nigeria Mining Week, aimed at attracting investments and enhancing sector reforms. The event will facilitate discussions on mining challenges and aims to improve the investment climate for domestic and foreign stakeholders.
The Federal Government of Nigeria is determined to harness the country’s mineral wealth to drive economic transformation, as reinforced by Minister of Solid Minerals Development, Dele Alake. Speaking through Permanent Secretary Mary Ogbe at the press conference for Nigeria Mining Week, scheduled for November 18-20, 2024, in Abuja, Alake highlighted the event’s aim to attract global decision-makers in the mining sector. The 2024 Mining Week will address critical issues including investment promotion, capacity building, and technological advancements, while also emphasizing structured Community Development Agreements (CDAs). This initiative aims to enhance Nigeria’s investment climate by improving transparency and regulatory clarity, with an anticipated participation of over 2,100 attendees from 23 countries, including local and international stakeholders. Alake pointed out the importance of unlocking Nigeria’s vast untapped mineral resources to foster economic growth aligned with sustainable development goals. In line with the Federal Government’s Renewed Hope Agenda, he emphasised opportunities for domestic industrialisation and foreign investment in key minerals such as gold, lithium, and copper, vital for national advancement. Dele Ayanleke, National President of the Miners Association of Nigeria, also acknowledged the annual event’s role in fostering innovative ideas for sector reforms.
Nigeria is rich in minerals yet under-exploited resources. The government seeks to reform regulatory frameworks in the mining sector to boost investments, enhance technological advancements, and promote sustainable economic growth. This aligns with broader national development strategies and efforts to improve the investment climate.
The Nigerian government’s proactive approach to leveraging its mineral wealth through initiatives like Nigeria Mining Week is geared towards significant economic transformation. By improving transparency and regulatory clarity, the government hopes to attract substantial local and foreign investments, driving the country towards becoming a key player in the global commodities market.
Original Source: www.tv360nigeria.com