The mining industry in Nigeria has recently received attention from industry experts who are urging the government to take strategic steps in order to attract investments into the country’s mining sector. During the virtual launch of the Global Mine 2024 report, experts emphasized the importance of creating a conducive environment through regulatory frameworks, infrastructure development, and security measures to unlock the sector’s potential.
Andries Rossouw, the Africa Energy, Utilities and Resources Leader at PwC, highlighted the significance of leveraging technology to enhance productivity throughout the mine’s life cycle. He also stressed the need to diversify into other commodities using the existing skills in the country, citing the potential for lithium processing as an energy-intensive process that aligns with Nigeria’s abundant gas and oil resources.
Gifty Appiah, the Associate Director of Tax Services at PwC Ghana, underscored the importance of creating a conducive environment to attract investors and provide them with certainty in an industry that is both risky and capital intensive. She also called for a deliberate approach to avoiding pitfalls in the oil and gas industry, and highlighted the need for specific and impactful strategies and policies to attract investment.
In conclusion, experts have highlighted the potential for Nigeria to diversify its economy through strategic investments in the mining sector, emphasizing the importance of creating a conducive environment and developing impactful strategies to attract investment and bolster the economy. The revitalization of the mining industry in Nigeria is crucial for the country’s economic growth and development.