Nigeria’s Ministry of Solid Minerals Development requires mining lease applicants to submit value addition plans to minimise raw mineral exports and enhance local processing. This move is essential for stimulating economic growth, job creation, and sustainability in the sector. It is part of broader reforms aimed at modernising Nigeria’s mining industry and ensuring community involvement.
Nigeria’s Ministry of Solid Minerals Development has mandated all mining lease applicants to submit a detailed value addition plan. This initiative seeks to reduce reliance on raw mineral exports and prioritise local mineral processing, thereby stimulating industrial growth and job creation. Dr. Mary Ogbe, Permanent Secretary of the Ministry, stated that the policy positions Nigeria as a model for sustainable mining and is integral to the government’s 7-point Agenda aimed at fostering innovation, integrity, and inclusivity within the sector. Also highlighted was the Energy Transition Minerals Development Policy, which aims to exploit Nigeria’s critical mineral resources for renewable energy needs. Moreover, reforms such as strengthening Community Development Agreements and enhancing human capital through skills development were mentioned as vital steps towards a resilient mining sector. Dr. Esther Udo, Director of Investment Promotion, reinforced the need for partnerships to harness the potential of Nigeria’s 44 commercially viable minerals, ensuring equitable benefits for host communities. The ongoing Nigerian Mining Week features discussions and workshops focused on enhancing mining sector growth and sustainability, covering topics like ESG compliance and investment strategies. Overall, these initiatives facilitate a cooperative dialogue among stakeholders to establish a robust mining ecosystem in Nigeria.
The Nigerian government is implementing reforms in the mining sector to pivot from raw mineral exports to value addition within the country. The Ministry of Solid Minerals Development is spearheading this initiative as part of its broader strategy to enhance the economic viability of mining. The focus is on creating jobs, better managing resources, asserting sustainable practices, and ensuring local community involvement in mining activities. These efforts are essential for aligning Nigeria’s mining sector with global standards and responding to the increasing demand for sustainable practices.
The Ministry of Solid Minerals Development’s new policy mandates that mining lease applicants provide value addition plans, aimed at reducing raw mineral exports and encouraging local processing. This initiative, along with significant reforms and strategies, is designed to create a sustainable, inclusive mining sector that benefits both the economy and local communities, while positioning Nigeria as a leader in responsible mining practices.
Original Source: von.gov.ng