Experts in Nigeria’s mining sector have called for significant investment in mineral exploration and geoscience data generation to attract international mining firms. During the Nigerian Mining Week in Abuja, they referred to old, neglected mining sites as Brownfields and newer initiatives as Greenfields. Speakers, including Habeeb Jaiyeola from PwC and Fadi Abou Ghazale of Titan Minerals, highlighted the need for credible geological data as a critical factor for attracting global players like Rio Tinto. Ghazale noted the difficulties in securing exploration funding and urged for government support to enhance the investment climate. Furthermore, Simon Nkom from the Nigeria Mining Cadastre Office emphasised the importance of digitising mineral licensing. He pointed out that despite the government’s past involvement in mining, it now seeks to create a supportive environment for private sector investors. Both Nkom and Ayodeji Gbeleyi of the Bureau for Public Enterprises agreed that the lack of available geodata heavily obstructs progress. Collectively, the discussion underscores that enhancing Nigeria’s mineral wealth requires strategic investment and the generation of reliable exploration data.

Nigeria’s mining industry holds substantial potential, particularly in its Brownfield and Greenfield sites. Historically, mining was overshadowed by oil discovery, leading to a decline in exploration efforts. However, experts posit that revitalising this sector could draw investments from leading global mining companies. Key aspects influencing this potential include improved data generation, targeted strategies for mineral exploration, and a supportive regulatory environment, aiming to transition Nigeria into a competitive mining destination.

To attract major players in the mining industry, Nigeria must prioritise investments in mineral exploration and the generation of accurate geoscientific data. The current strategies involve engaging the private sector and creating favourable conditions for junior investors. By developing both Brownfield and Greenfield sites, Nigeria could rejuvenate its mining sector, potentially leading to significant economic mineral discoveries that would appeal to international investors.

Original Source: leadership.ng

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