Captain Dada Olaniyi Labinjo, Executive Managing Director of Silicon Valley Nigeria Economic Development Mining Company Limited, stated that Nigeria could generate over N37 trillion annually from mining if properly developed. He emphasised that mining could significantly boost the economy by creating jobs and generating revenue through taxes and fees for the government.

Labinjo highlighted that such revenue could be directed towards infrastructure development and social programmes. The company’s engagement in the sector aims to play a substantial role in optimising Nigeria’s mining potential and supporting economic growth.

During a recent management visit, Labinjo spoke about mining’s capacity to create thousands of jobs in various sectors like geology and engineering. He noted that mining could increase government revenue through various taxes imposed on mining activities, significantly boosting the nation’s financial resources.

Ambassador Temitope Amina Labinjo-Ajayi, Chairman of SV-NED, praised President Bola Tinubu’s Renewed Hope Agenda for its potential to positively transform Nigeria. She reiterated that mining could when harnessed effectively, reduce Nigeria’s reliance on oil and contribute to economic diversification, vital for long-term economic stability.

She acknowledged that mining infrastructure could benefit local communities and industries, promoting overall development. Labinjo-Ajayi further explained that mining could enhance foreign exchange earnings through mineral exports, promoting better currency stability.

Adediran expressed excitement about the SV-NED’s partnership and its potential to improve local economic conditions and lifestyle. He appealed for establishing a University of Agriculture to tap into local agricultural and mining resources and called for upgrading a decades-old hospital lacking necessary medical infrastructure.

The article outlines the substantial economic potential of Nigeria’s mining sector, highlighting the significant revenues that could be generated through proper management. It stresses the importance of mining for job creation, infrastructure development, economic diversification, and foreign exchange earnings. The involvement of companies like SV-NED is essential to harness this potential and enhance the general well-being of local communities.

Original Source: www.zawya.com

The post Nigeria’s Mining Sector Could Generate Over $24 Billion Annually first appeared on Nigerian Mining News.

Captain Dada Olaniyi Labinjo, Executive Managing Director of SV-NED Mining Company, believes Nigeria could generate over N37 trillion yearly from its mining sector if properly developed. This prospective revenue could significantly boost the economy through job creation and increased tax revenue for the government.

Mining could create thousands of jobs in areas like geology, engineering, and environmental management while providing a substantial income through various taxes. Labinjo emphasised the need for infrastructure improvements to support mining activities, which would benefit local communities.

Ambassador Temitope Amina Labinjo-Ajayi, SV-NED’s chairman, praised President Bola Tinubu’s Renewed Hope Agenda, noting that mining could help diversify Nigeria’s economy, which currently relies heavily on oil exports. This diversification would promote economic stability and development.

Labinjo-Ajayi highlighted the potential for mining to boost foreign exchange earnings through mineral exports, positively influencing the country’s currency stability. Additionally, she mentioned that responsible mining can support environmental sustainability and promote local content development by using locally sourced goods and services.

Chief Emmanuel Ayodele Adediran, Seriki of Igbetiland, welcomed SV-NED’s partnership, expecting it to enhance economic development and improve the community’s living standards. He further urged the government to establish a University of Agriculture in the area and to renovate a long-neglected hospital.

Nigeria’s mining sector holds substantial potential for revenue generation, job creation, and economic diversification, with estimates suggesting an annual income of over N37 trillion. The collaboration between SV-NED and local communities aims to enhance development and infrastructure, contributing to the nation’s overall economic growth.

Original Source: tribuneonlineng.com

The post Nigeria Can Generate N37 Trillion Annually from Mining, Says SV-NED Managing Director 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

The post Tinubu’s Government Plans Solid Minerals Corporation Modelled After NLNG first appeared on Nigerian Mining News.

Nigeria and France are strengthening their collaboration to enhance mining development following a recently signed Memorandum of Understanding (MOU). This agreement was discussed at the Future Minerals Forum in Riyadh, where Nigerian Minister of Solid Minerals Development, Dele Alake, and French Inter-Ministerial Delegate for Strategic Minerals, Benjamin Gallezot, sought to promote sustainable mining practices and decarbonisation in energy projects.

Gallezot announced that his department is reviewing applications from French companies wishing to invest in Nigeria’s mining sector and will provide a list of verified investors to the Nigerian ministry. Minister Alake expressed gratitude to Gallezot for his cooperation despite time constraints during President Bola Tinubu’s visit to France, addressing misinformation regarding the MOU’s objectives.

The MOU includes plans for research collaboration, knowledge sharing, and environmental rehabilitation, focusing on over 2,000 abandoned mining sites in Nigeria. During the Forum, discussions centred on sustainable practices, artisanal mining, geological exploration, and funding for training programmes.

Olusegun Ige, Director-General of the Nigerian Geological Survey Agency, highlighted the need for modern equipment to improve geological data exploration. Similarly, Simon Nkom from the Mining Cadastral Office urged for a comparative analysis of mining laws between the two nations.

Executive Secretary Fatima Shinkafi suggested co-funding for early-stage exploration projects, stating that the Nigerian Solid Minerals Fund has accumulated significant historical data from collaborations with financial entities. Christophe Poinssot from the French Geological Agency confirmed support for increasing geologist capacity in Africa, including Nigeria.

The MOU signed between Nigeria and France seeks to boost the mining sector in Nigeria through sustainable practices and technology advancement. It aims to address issues like environmental impact and rehabilitation of defunct mining sites, thus promoting a stronger, more responsible mining industry. The collaboration also involves sharing knowledge and coordinating training programmes to enhance the skills of those in the mining sector.

The collaboration between Nigeria and France marks a significant step in enhancing Nigeria’s mining development through sustainable practices and investment. The MOU aims to tackle environmental issues while promoting technological advancements and knowledge sharing. With committed efforts from both countries, the potential for growth in the Nigerian mining sector appears promising, benefiting both economies.

Original Source: businessday.ng

The post Nigeria and France Collaborate to Advance Mining Development first appeared on Nigerian Mining News.

The Nigerian Government is actively pursuing partnerships with international players in the mining sector to harness the nation’s capabilities. During the Future Minerals Forum in Riyadh, Saudi Arabia, Minister of State Finance, Dr. Doris Uzoka-Anite, highlighted Nigeria’s considerable resource potential and readiness for collaboration. She expressed a commitment to innovation, sustainability, and investment, positioning Nigeria as a key player in global minerals and energy. Dr. Uzoka-Anite urged global investors to explore the untapped opportunities available in Nigeria’s mining and energy sectors.

Attending alongside Minister of Solid Minerals, Mr. Dele Alake, Dr. Uzoka-Anite emphasised Nigeria’s openness for business at the Future Minerals Forum, which hosted over 14,000 participants from 178 countries, including government leaders and industry experts. The Nigerian delegation aimed to showcase the country’s extensive natural resources and support President Bola Ahmed Tinubu’s focus on economic growth through mining and energy collaboration.

The Future Minerals Forum serves as a significant platform for shaping the minerals industry’s future globally. Nigeria’s involvement at the forum illustrates its commitment to fostering international partnerships that drive economic advancement, aligned with the Renewed Hope Agenda of the Tinubu Administration, aimed at enhancing the country’s mining and energy sectors.

Nigeria is rich in natural resources, which presents significant opportunities for economic growth through the mining sector. The government is keen on attracting global partnerships to unlock these resources. With a strong focus on innovation and sustainability, Nigeria aims to improve its position in the global minerals market, enhancing its economic landscape in the process. Participation in international forums like the Future Minerals Forum reflects Nigeria’s strategy to engage globally and promote investment in its resources.

In summary, the Nigerian Government is seeking global partnerships to strengthen its mining and energy sectors. By showcasing its resource wealth at international forums, Nigeria is positioning itself as an emerging leader in the global minerals market. The ongoing efforts to attract foreign investment are aligned with the country’s broader economic agenda, aiming to stimulate growth and sustainability in critical industries.

Original Source: newtelegraphng.com

The post Nigeria Seeks Global Mining Partnerships to Strengthen Economy 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

The post FG Invites British Investors to Capitalise on Nigeria’s Mining Opportunities first appeared on Nigerian Mining News.

On Wednesday in Saudi Arabia, Nigeria and France advanced their mining collaboration by discussing a Memorandum of Understanding (MOU) established in Paris. France committed to upgrading the Nigerian Geological Survey Agency’s laboratory, supplying advanced equipment, and funding geological data exploration. This meeting was attended by Nigeria’s Minister of Solid Minerals Development and France’s Interministerial Delegate for Strategic Minerals, aiming to foster cooperation and share information on mining legislation and practices between the two countries.

During discussions at the Future Minerals Forum in Riyadh, Gallezot revealed that he was evaluating applications from French companies to invest in the Nigerian sector. Minister Alake thanked Gallezot for facilitating the MOU amidst tight schedules, mentioning that political challenges regarding the MOU’s objectives have been addressed. He called the forum a pivotal opportunity for enhancing collaboration through strategic programmes and projects.

Key topics of discussion included sustainable and artisanal mining, geological exploration, and cadastre management. The Director-General of the Nigerian Geological Survey Agency expressed the critical need for modern technology to improve geological data collection and analysis. He stated that upgraded labs are essential for accurate mineral analysis.

Additionally, the DG of the Nigerian Mining Cadastral Office suggested that both nations review their mining laws to find common ground and enhance legislation. He invited the French delegation to encourage French investors to explore mining opportunities in Nigeria. The Executive Secretary of the Nigerian Solid Minerals Fund emphasised the importance of joint funding for exploration projects with French financial institutions.

France’s geological agency representative committed to including Nigeria in its capacity-building initiatives for African geologists and discussed funding for laboratory upgrades. Gallezot finalised discussions by stating that the proposals would be reviewed by the respective governments, focusing on joint exploration efforts between the geological agencies of both countries. The programme’s progress will be analysed at the upcoming annual Indaba in Cape Town, South Africa.

The collaboration between Nigeria and France reflects a growing interest in mining, which is critical to both nations. The partnership aims to enhance technological capabilities in Nigeria’s mining sector, promote sustainable practices, and ensure legal compliance. By exchanging knowledge and resources, both countries seek to maximise their mining potential while attracting foreign investments and improving local expertise.

The strengthened ties between Nigeria and France in the mining sector indicate a strategic partnership focused on efficient exploration and sustainable practices. With commitments from France to upgrade technology and funding, this collaboration could significantly enhance Nigeria’s mining capabilities and attract potential investors. Ongoing discussions will pave the way for effective implementation, with further evaluations planned in the near future at an important mining event.

Original Source: nta.ng

The post Nigeria and France Enhance Mining Collaboration through MOU first appeared on Nigerian Mining News.

In Saudi Arabia, Nigeria and France reinforced their Memorandum of Understanding (MoU) regarding mining, initially established last month in Paris. Key commitments from France include upgrading laboratories, providing advanced technology, and funding geological data exploration for Nigeria’s Geological Survey Agency. Kehinde Bamgbetan, Special Adviser to Nigeria’s Minister, announced this during the Future Minerals Forum, where the two nations also agreed to share mining law information to tackle illegal mining.

The meeting in Riyadh focused on collaboration in the mining sector between Nigeria and France. Both countries aim to enhance their mining capabilities through a detailed MoU that addresses technology transfer, training, and sustainable practices. The discussions aimed to foster investment from French companies in Nigeria’s mining sector, driving improvements and compliance with international standards in geological exploration.

The collaborative efforts between Nigeria and France aim to strengthen the mining sector through technological advancements and knowledge sharing. Key actions include upgrading facilities, training local expertise, and facilitating investments. Future meetings will evaluate the MoU’s implementation, ensuring both countries benefit from their partnership historically rooted in geological cooperation.

Original Source: theeagleonline.com.ng

The post Nigeria and France Enhance Mining Cooperation in Saudi Arabia first appeared on Nigerian Mining News.

Nigeria has signed a funding agreement with France to enhance geological data exploration in its mining sector through the Nigerian Geological Survey Agency (NGSA). This collaboration aims to improve Nigeria’s capability in assessing its mineral resources, marking a concerted effort to revitalise the industry. By leveraging France’s financial and technical support, Nigeria is committed to upgrading its geological infrastructure to address existing challenges such as outdated technologies and inadequate facilities.

The partnership between Nigeria and France is a strategic move to bolster Nigeria’s mining sector, which has faced significant challenges such as declining production and limited technological access. With a memorandum of understanding (MoU) signed in December 2024, both nations aim to enhance the critical minerals value chain and promote sustainable mining practices. The initiative is part of Nigeria’s broader strategy to attract international investment and modernise its mining operations.

In summary, the agreement between Nigeria and France is pivotal in transforming Nigeria’s mining landscape. By gaining access to advanced technologies and fostering local expertise, Nigeria aims to overcome its mining sector challenges. This partnership could serve as a model for future collaborations in addressing global resource management challenges effectively.

Original Source: africa.businessinsider.com

The post Nigeria and France Partner to Boost Geological Data Exploration in Mining Sector first appeared on Nigerian Mining News.

Nigeria is actively pursuing international partnerships to enhance its mining sector, as stated by Dr. Doris Uzoka-Anite, the Minister of State for Finance. Speaking at the Future Minerals Forum in Riyadh, she emphasised the nation’s untapped natural resource potential and welcomed global investors to help position Nigeria as a key player in the global minerals and energy market through sustainable practices. Dr. Uzoka-Anite reaffirmed President Bola Tinubu’s commitment to advancing growth and diversification within these sectors.

Currently, the Nigeria Mining Cadastre Office has generated over $4.8 million in revenue as of October 2024, but it is experiencing funding challenges. Furthermore, Minister of Solid Minerals Development, Dele Alake, has expressed concerns regarding the insufficiency of the 2025 mining budget, indicating that it falls short of promoting adequate exploration and investment.

Nigeria aims to strengthen its economy by tapping into its rich mineral resources through enhanced global investment in the mining sector. The government is focused on developing sustainable mining practices and fostering innovations to establish a leading position in the energy and mineral markets. This push for investment comes amid existing financial constraints and critiques of budget allocations in the mining sector.

In summary, Nigeria seeks to attract global investments to develop its mining sector, identifying it as vital for economic growth. While the potential is significant, challenges such as funding limitations and inadequate budget allocations need to be addressed to realise these ambitions.

Original Source: www.africa.com

The post Nigeria Aims for Global Investments to Enhance Mining Sector first appeared on Nigerian Mining News.