In a recent interview with Dr. Kayode Abdulgafar Amuda, a distinguished academic and geoscientist, valuable insights were gained into Nigeria’s solid mineral sector and the strategies required for sustainable development and strategic investment.
Dr. Amuda highlighted Nigeria’s abundant mineral resources, such as gold, iron, lead, zinc, coal, and gemstones. Despite this wealth, the sector contributes less than 1% to the country’s GDP due to overreliance on oil, unstable policies, and outdated geoscience data. However, he expressed optimism in the efforts of the current Minister of Solid Minerals, Honourable Dele Henry Alake, to attract foreign investment, enhance legal frameworks, and update data to revitalize the sector.
The absence of a reliable database for Nigeria’s solid mineral wealth was also emphasized by Dr. Amuda. Accurate and up-to-date information on the quantity, quality, and location of mineral resources is critical for planning, investment decisions, and policy formulation. Investment in remote sensing technology can aid in delineating potential economically viable metallic deposits, ensuring a favorable return on investment.
The impact of reporting standards on mining practices was another point of discussion. Dr. Amuda emphasized the need for transparency in reporting mineral resources and commended the implementation of standards such as Canada’s National Instrument 43-101 and Australia’s Joint Ore Reserves Committee Code to improve investor confidence and promote responsible mining practices.
Attracting and retaining investors in Nigeria’s mining industry requires a stable and transparent regulatory environment, financial incentives, and well-equipped processing facilities. Dr. Amuda also emphasized the need to prepare the youth for careers in the mining industry by providing up-to-date data to educational institutions, incorporating practical modules into university curriculums, and fostering collaboration between mining companies and academic institutions.
In terms of professional commissioning, licensing, and regulatory agencies, Dr. Amuda acknowledged Nigeria’s robust framework but stressed the need for a centralized coordination body to ensure seamless collaboration and align policies with sustainable development goals. He also expressed cautious optimism about the establishment of the Nigerian Solid Minerals Corporation, emphasizing the importance of avoiding duplication of efforts with existing agencies.
Finally, combatting illegal mining in Nigeria was discussed, with Dr. Amuda advocating for a comprehensive approach that includes strengthening regulatory frameworks, increasing surveillance and monitoring of mining activities, providing alternative livelihoods for those involved in illegal mining, and conducting public awareness campaigns.
In conclusion, Dr. Amuda’s insights shed light on the potential of Nigeria’s solid mineral sector and the steps needed to harness this potential for sustainable economic growth and development. With the right strategies and investments, Nigeria can diversify its economy away from oil dependency and leverage its mineral wealth to drive economic growth and create job opportunities for the youth.