Nasarawa Governor Abdullahi Sule has called for the deregulation of Nigeria’s mining sector to enhance its potential. Speaking at the 60th Nigerian Mining and Geosciences Society Annual Conference in Abuja, he advocated for reforms akin to those in the oil and gas industry, emphasising the need for modernization and liberalisation to attract investment.

Governor Sule highlighted Nigeria’s abundant mineral resources and criticized existing policies that impede growth. Reflecting on his oil industry experience, he underscored the importance of structured revenue-sharing and industry regulations to secure adequate returns for mining states.

During his term, he discovered that despite 416 mining licenses granted in Nasarawa, the state was receiving no significant financial returns, prompting him to challenge the National Economic Council regarding the lack of revenue compared to the oil sector. Recognising flaws in the licensing process, he issued an executive order to ensure that all minerals processed in the state before export, which boosted local investments.

He proudly noted that Nasarawa State now hosts Nigeria’s largest lithium processing plant and several other smaller tin mining operations. Governor Sule urged Nigeria to shift focus towards long-term industrialisation over short-term financial gains, drawing comparisons to China’s approach to mining development.

Sule remains determined to overcome resistance to regulations that would ultimately benefit the sector and the economy. Professor Akinade Olatunji, President of the Nigerian Mining and Geosciences Society, acknowledged the governor’s contributions to advancing mining reforms in Nigeria, culminating in a fellowship award presented to him during the event.

Governor Abdullahi Sule’s call for the deregulation of Nigeria’s mining sector underlines his commitment to modernising the industry. By improving revenue-sharing mechanisms and enforcing operational regulations, he aims to harness the nation’s mining potential for sustainable growth and investment. His proactive measures reflect a determined effort to transform the sector into a vital component of Nigeria’s economy.

Original Source: dailypost.ng

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Dr. Dele Alake, the Minister of Solid Minerals Development, regards his honorary fellowship from the Nigeria Mining and Geosciences Society (NMGS) as a sign of the federal government’s dedication to enhancing the mining sector. He emphasised that advancing this sector is a shared responsibility among various stakeholders.

Speaking at the 60th annual NMGS International Conference and Exhibition, themed “Transformation of the Mineral, Energy, Water and Construction Sectors Through Innovations,” Alake noted a global shift in mining practices towards digital technologies. He encouraged embracing these innovations to attract investment and improve productivity.

The ministry is focusing on using geospatial data and remote sensing for mineral exploration, which can reduce uncertainties and enhance investment decisions. Alake also mentioned plans for establishing mineral processing hubs to increase value and depend less on raw mineral exports.

The minister, represented by Dr. Mary Ogbe, expressed the government’s commitment to fostering a conducive environment for growth in mining. Initiatives will include enhancing regulatory frameworks, promoting research partnerships, and providing support for small-scale miners through access to funding and mechanisation.

Alake urged the NMGS to promote industry collaboration for transforming the mining sector and reaffirmed the ministry’s dedication to harnessing the nation’s natural resources for broader development. He stated an intention to create a resilient future for Nigeria’s mining and geosciences sector.

Prof. Akinade Olatunji, NMGS President, highlighted the critical role of innovation in sustainable development across various sectors. He urged for policies that optimise Nigeria’s youthful, dynamic population to drive growth, aiming to eradicate poverty through strategic transformation.

The conferment of Dr. Dele Alake as an honorary fellow of NMGS marks a significant commitment to transforming Nigeria’s mining sector through innovation and collaboration. With efforts focused on digital technology adoption, regulatory enhancements, and support for local miners, there is an optimistic outlook for sustainable development in Nigeria’s mining and geosciences. Furthermore, the NMGS conference underscored the potential of innovation in resolving challenges across multiple sectors while aiming to utilise Nigeria’s abundant resources more effectively.

Original Source: www.thisdaylive.com

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Mining stakeholders in Nigeria are urging for enhanced collaboration among relevant agencies and institutions to foster sector development. This call was made during a pre-conference discussion at the 60th Nigerian Mining and Geosciences Society (NMGS) Annual International Conference and Exhibition held in Abuja. The conference theme spotlighted innovation in transforming various sectors including mining.

Mr. Olusegun Adedayo, a mining policy advisor, stressed the necessity for local partnerships to elevate Nigeria’s competitiveness in the global mining landscape amidst increasing demand for energy minerals. He highlighted the need for aggregated data on Nigeria’s mineral reserves to attract investors, advocating for joint efforts in research, funding, and geoscience data collection to focus on key minerals.

Adedayo noted the issue of fragmented geoscience data stored in silos across different agencies. He proposed centralising this information to enhance accessibility for domestic and international investors. His assertion underscored the need for Nigeria to invest in its own technological and research capabilities.

Mrs. Aisha Gombe pointed out the significance of collaboration between geology and civil engineering departments in training institutions, noting a lack of engineering geology labs in geology departments. She called for joint efforts between regulatory councils to foster professionalism and safety in the industry.

Dele Ayankele, President of the Miners Association of Nigeria, expressed concerns over the absence of sustainable policies in the sector, identifying this as a major barrier to growth. He urged for the implementation of recommendations from a 2016 government committee tasked with sector transformation to attract investment through technological innovations.

The conference, running from February 16 to 21, will cover topics such as resource management in mining and the role of geoscience in agriculture and food security.

The conference has highlighted the urgent need for collaboration among Nigeria’s mining stakeholders to strengthen the sector. Key discussions focused on data centralisation, joint training efforts, and the implementation of sustainable policies to encourage local and international investment. Emphasis was placed on improving technological innovation and research capabilities as pathways for sector advancement.

Original Source: nannews.ng

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The Nigerian federal government has reported that international investors are showing interest in the country’s lithium sector. Segun Tomori, special assistant to Minister Dele Alake, stated during a recent XSpace event that lithium’s significance lies in its use for electric vehicles, solar panels, and green technologies. As a result, many investors are drawn to it, outpacing interest in other minerals like gold, nickel, and cobalt.

Tomori noted that Nigeria has already inaugurated two lithium factories, with additional ones set to open soon, including a new facility in Abuja. He emphasised the growing international mining industry’s focus on lithium, vital for solar panel and electric vehicle production, essential for green energy initiatives. The government aims to create a favourable investment environment by streamlining investment processes and addressing security concerns.

The commitment to fully exploit Nigeria’s lithium potential is evident, especially in Nasarawa state, which is believed to hold significant reserves. Tomori commended the proactive approach of Nasarawa’s governor, Abdullahi Sule, in developing the mining sector. The governor has engaged in collaborations with private entities and has applied to operate as a limited liability company.

Additionally, Tomori revealed that Nasarawa has already commissioned two lithium factories, with more expected this year. However, he acknowledged that Nigeria’s mining sector still requires technical expertise from established mining nations. The minister is actively engaging with foreign parties to seek technical partnerships and capacity-building opportunities.

Despite existing challenges, there is confidence in Nigeria’s ability to leverage its lithium resources for economic growth.

Nigeria’s lithium sector is rapidly gaining international attention, resulting in the establishment of several factories. With strategic government initiatives, particularly in Nasarawa state, and collaborations with foreign countries, Nigeria aims to develop its mining capabilities and technical expertise. The commitment from both the government and local stakeholders is pivotal in capitalising on the country’s lithium potential, despite ongoing challenges.

Original Source: www.thecable.ng

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Nigeria and Venezuela are exploring investment opportunities in the mining sector, as revealed in recent discussions between Nigeria’s Minister of Solid Minerals Development, Dr Dele Alake, and Venezuela’s Deputy Minister of Mining, Alejandro Martinez. Their talks took place during the Investing in African Mining Indaba Conference in Cape Town, South Africa, with a commitment to strengthening collaboration and attracting investments.

Minister Alake highlighted the potential for both nations to work together in sustainably utilising their mineral resources for economic benefits. He stressed the importance of local processing, particularly of lithium, to create jobs and enhance the economy instead of merely exporting raw materials.

Alake also invited Venezuela to join the Super Region, a coalition of mining countries aiming to promote trade and economic independence. The minister expressed openness to collaborations with investors who demonstrate commitment to sustainable practices and local value addition.

In response, Martinez noted Venezuelan investors are particularly interested in Nigeria’s market for mining machinery and services. He asked for Alake’s support in facilitating collaboration and encouraging investors to visit Nigeria for further information.

The discussions stem from ongoing efforts by Nigeria and Venezuela to enhance their mining sectors, utilising each country’s resources effectively. Both countries face similar political and economic challenges, which provides a unique opportunity for mutual cooperation. The Investing in African Mining Indaba serves as a strategic platform for countries to seek partnerships and investments.

The engagement signifies a strategic move towards deeper collaboration in the mining sector between Nigeria and Venezuela. By focusing on sustainable practices and local economic growth, both nations hope to leverage their mineral resources more effectively and create significant employment opportunities.

Original Source: von.gov.ng

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The Nigerian Economic Summit Group (NESG) highlights weak reforms and policies as major obstacles hindering growth in the country’s mining sector. They stress the need for targeted policy reforms, improved governance, and strategic initiatives to tap into the industry’s potential. Lumun Amanda Feese, NESG’s Manufacturing and Mining Policy Commission facilitator, pointed out that despite nearly two decades of reforms, Nigeria lags behind nations that initiated changes earlier.

Feese noted that the current mining framework fails to create effective linkages with sectors like manufacturing, construction, and technology. The mining act remains outdated, offering no space for independent regulation and failing to foster inter-sector connections. Consequently, the sector primarily caters to foreign demands, lacking integration with Nigeria’s broader economy.

The mining landscape is marred by challenges like environmental damage, violent conflicts linked to illegal activities, and insufficient GDP contributions. Rectifying these issues is critical for revitalising the sector and enhancing its role in Nigeria’s economy. Comprehensive reforms aligned with the African Mining Vision (AMV) are needed to address legal and regulatory shortcomings, with coordination between the Bureau of Public Enterprises and the Ministry of Solid Minerals Development.

Niyi Yusuf, chairman of NESG, stresses collaboration between private and public sectors to transform the mining industry. He describes this endeavour as a long-term commitment essential for economic diversification and job creation. Transformation in this sector is a gradual process, not an immediate fix, and is vital for national growth.

The article addresses the challenges faced by Nigeria’s mining industry, primarily stemming from inadequate institutional reforms and policies. These issues limit the sector’s potential contributions to the economy, despite ongoing reforms over the years. The emphasis is on the need for comprehensive reforms to create synergies across various sectors and ultimately enhance the mining sector’s performance and relevance to Nigeria’s economic landscape.

The article underscores that Nigeria’s mining industry growth is impeded by weak reforms and lack of sector connections. Advocating for comprehensive, multi-faceted reforms, it stresses the necessity of collaboration between stakeholders to revitalise the mining sector. This transformation is essential for job creation and economic diversification, emphasising the industry’s crucial role in national interests.

Original Source: businessday.ng

The post Weak Reforms Hindering Nigeria’s Mining Industry Growth first appeared on Nigerian Mining News.

The Minister of Solid Minerals Development, Dele Alake, outlined plans to establish the Nigeria Solid Minerals Corporation, designed after the Nigeria Liquefied Natural Gas (NLNG) model. This initiative, discussed during a meeting with UK Ambassador Jonny Baxter, aims to transform Nigeria’s mining sector and ensure sustainable development through private sector involvement and government equity. Alake stated that the corporation will minimise political interference, having received presidential approval for its establishment.

Alake emphasised the government’s strategy to enhance mining accessibility by developing transport infrastructure, improving the regulatory landscape, and securing investor interests. He highlighted 2025 as a crucial year for the administration’s reform efforts, with expectations of positive outcomes emerging from these initiatives. He also encouraged UK investment in Nigeria’s mining sector and welcomed British support in improving regulatory frameworks.

Ambassador Baxter praised the plans to model the new corporation after NLNG, affirming the UK’s commitment to fostering bilateral ties in the mining industry and supporting regulatory enhancements. He expressed that Nigeria’s economic progress is vital for global economic stability.

In related news, Senator Adams Oshiomhole accused retired military generals of being behind illegal mining activities in Nigeria, calling for decisive action from the government to combat this issue.

– Dele Alake stated that the Solid Minerals Corporation will be an enduring legacy, free from future political interference.
– He noted the importance of fostering investor security and expanding geological exploration within Nigeria’s mining sector.

The establishment of the Nigeria Solid Minerals Corporation reflects the government’s intention to innovate and improve the mining sector’s efficiency and global competitiveness. By mirroring the successful NLNG structure, the initiative aims to attract private investments while ensuring effective operational frameworks free from political interferences. Support from international partners like the UK highlights the global significance of Nigeria’s mineral resources in fostering economic growth.

The establishment of the Nigeria Solid Minerals Corporation represents a sizeable shift towards enhancing the mining industry. By investing in infrastructure, improving regulations, and involving international partners, Nigeria seeks to build a sustainable and profitable mining sector. This initiative, along with addressing illegal mining, aims to ensure long-term economic benefits and global recognition for Nigeria’s mineral wealth.

Original Source: www.legit.ng

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Mkhululi Ncube from the African Minerals Development Centre stated that the newly launched African Mining Vision (AMV) aims to rejuvenate Nigeria’s mining sector by integrating mining into broader industrial and social development. This initiative promotes economic growth by connecting mining with local industries and various sectors.

The AMV was unveiled during the Nigerian Economic Summit and serves as a private sector-driven platform for sustainable mining development and equitable benefits. It aims to enable the domestication of AMV in Nigeria, creating collaborative efforts among the government, communities, and private entities, and fostering a partnership between the NESG and AMDC for managing the AMV Private Sector Compact.

According to Ncube, “It will transform the continent’s mining sector into a catalyst for broader economic transformation, focusing on integrating mining into industrial and social development.” The transformation relies on investments in industrial linkages, enhancing local participation, and resource-based industrialisation.

He pointed out that the AMV Compact aligns with mining firms’ core values and practices, moving beyond mere compliance with national legislation. Following a model akin to the UN Global Compact, it encourages businesses to align their operations with universal principles around human rights, labour rights, environmental sustainability, and anti-corruption.

Despite governmental initiatives since 2005 to rejuvenate the mining industry, including law modernisation and geoscience data investment, issues persist. A NESG study identified key challenges, namely the lack of a regulatory commission, exclusion of sub-national governments, a misaligned exploration strategy, and fragile economic linkages.

The AMV Private-Sector Compact presents a cost-effective avenue for the private sector to engage with essential stakeholders, which is critical for creating a viable and sustainable mining environment that addresses governmental and societal needs while leveraging AMV mechanisms for development.

The African Mining Vision (AMV) aims to transform Africa’s mining sector by embedding it into the broader context of industrial and social development. It intends to facilitate economic growth through improved linkages among mining, local industries, and other sectors. The vision emphasises sustainable development and social responsibility, guiding private sector engagement and collaboration for better outcomes in mining. The recent unveiling during the Nigerian Economic Summit underscores its importance in revitalising Nigeria’s mining landscape.

The launch of the African Mining Vision signals a significant step towards revitalising Nigeria’s mining sector by fostering sustainable development and economic growth. By promoting collaboration between the government, private sector, and communities, it aims to address the sector’s challenges and enhance local participation. The initiative is expected to align mining practices with broader social and industrial objectives, benefiting all stakeholders involved.

Original Source: businessday.ng

The post Nigeria’s Mining Sector Transformation: The Role of African Mining Vision first appeared on Nigerian Mining News.

The Minister of Solid Minerals Development, Dele Alake, has called on British investors to explore Nigeria’s mining sector during a meeting with Jonny Baxter, the British Deputy High Commissioner to Nigeria. He highlighted the Nigerian government’s openness to UK support in capacity building and technical assistance across the mining value chain.

Alake noted that President Bola Tinubu has approved the establishment of the Nigeria Solid Minerals Corporation, designed to transform the sector sustainably, with a structure similar to the Nigeria Liquefied Natural Gas (NLNG) model. The corporation will aim for a 50% equity stake for the private sector, 25% for Nigerians, and 25% for the Federal Government, ensuring its operations remain free from political interference.

The government aims for a competitive mining sector by 2025, enhancing economic growth through improved access to mining sites, regulatory framework upgrades, and environmental remediation. Alake expressed optimism about the administration’s reform efforts, highlighting this pivotal year as a time for positive trends and economic prosperity.

Baxter commended Nigeria’s approach to forming the new corporation and reaffirmed the UK’s support for strengthening Nigeria’s regulatory framework, underlining that Nigeria’s growth is vital for global prosperity and expressing commitment to enhancing bilateral cooperation in mining.

Nigeria possesses vast mineral resources, which play a vital role in its economic development. The government is seeking foreign investment, particularly from the UK, to enhance the mining sector’s capacity. The establishment of the Nigeria Solid Minerals Corporation is part of broader efforts to ensure sustainable development and attract significant players in the mining industry.

The Nigerian government is actively encouraging British investment in its mining sector, citing opportunities for collaboration in capacity building and technical assistance. The new Nigeria Solid Minerals Corporation is set to enhance investor security and create a competitive market, anticipated to contribute significantly to the nation’s economy by 2025.

Original Source: gazettengr.com

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The Minister of Solid Minerals Development, Dr. Dele Alake, announced that the Nigeria Solid Minerals Corporation will transform the mining sector and support sustainable development. This information was relayed by Segun Tomori, the Minister’s Special Assistant on Media, during a meeting with UK Deputy High Commissioner Jonny Baxter.

The establishment of the Nigeria Solid Minerals Corporation aims to create a robust mining sector, drawing on the successful operation model of Nigeria Liquefied Natural Gas (NLNG). The corporation is expected to have a balanced equity structure involving private and public investment, encouraging active participation from local stakeholders and international partners.

The Nigeria Solid Minerals Corporation embodies the government’s commitment to sector reform, aiming for a competitive and recognised mining industry by 2025. Support from international partners, like the UK, plays a crucial role in this transformation, bringing technical expertise and investment opportunities to the region.

Original Source: von.gov.ng

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