At the ninth Annual Nigeria Mining Week in Abuja, Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, emphasized the need for the country to move beyond mere extraction of minerals to fully harness the sector’s potential. He highlighted that with Nigeria’s wealth of 44 minerals, including critical minerals for energy transitions, the focus must shift to local value addition and processing. Alake asserted that the government aims to transform the country’s mineral wealth into industrial strength that creates jobs and nurtures local businesses. He noted the recent inauguration of lithium processing plants in Nasarawa State and the establishment of more facilities near the Federal Capital Territory as part of this strategy. President Bola Tinubu’s administration is committed to implementing a policy that ensures mineral resources are processed locally and do not leave Nigeria in their raw form. Alake discussed plans to enhance the security of these resources while tackling illegal mining. The Mining Week serves as a venue for fostering partnerships, promoting innovation, and discussing future challenges and opportunities in mining. The overarching theme centres on building a sustainable mining sector to underpin national growth and prosperity, according to stakeholders present, including representatives from the Miners Association of Nigeria and PwC.

Nigeria’s mining sector is rich in potential, with 44 identified minerals. However, the country has primarily focused on extraction rather than processing and added value, which is crucial for economic growth. The Nigerian government is taking steps to reposition this sector to enhance its contribution to the GDP and create jobs, especially in light of global shifts towards sustainable energy solutions. The government’s new initiatives highlight a commitment to local processing and securing mineral resources.

Dr. Dele Alake’s statements at the Annual Nigeria Mining Week underline a pivotal shift in Nigeria’s mining strategy from simply extracting minerals to implementing local value addition and processing. By reinforcing security measures and promoting partnerships with various stakeholders, the government aims to enhance the mining sector’s contribution to the economy, ensuring that the benefits are realised domestically.

Original Source: nannews.ng

The post Nigeria Enhances Mining Strategy: From Extraction to Value Addition first appeared on Nigerian Mining News.

Dele Alake, Nigeria’s Minister of Solid Minerals Development, emphasized the government’s commitment to halting the export of mineral resources during a press conference for the ninth edition of Nigeria Mining Week. The aim is to implement a value-addition policy that ensures minerals are processed locally to boost the economy. Nigeria, rich in 44 minerals, is focusing on local beneficiation to create jobs and enhance industrial growth. The government will tackle issues like illegal mining to secure mineral resources, reinforcing that the solid minerals sector should contribute significantly to the national GDP. Stakeholders view the mining week as an opportunity to enhance the industry and showcase technological advancements.

The Nigerian government seeks to develop its solid minerals sector to strengthen the economy, reduce dependency on external mineral imports, and create local job opportunities. This initiative aligns with global trends towards energy transition and sustainable mining practices. By prioritising local processing and value addition, Nigeria hopes to establish itself in the global mineral market and ensure local communities benefit from their resources.

In conclusion, the Nigerian government’s strategy under Minister Dele Alake aims to transform the country’s mining sector by prohibiting mineral exports, fostering value addition, and increasing local processing capabilities. This approach is set to benefit the economy and positions Nigeria for a prominent role in the global mineral value chain.

Original Source: www.thecable.ng

The post Nigeria to Halt Mineral Exports for Economic Value Addition first appeared on Nigerian Mining News.

The Federal Government of Nigeria is committed to tapping into the country’s mineral wealth to foster economic growth and diversify revenue sources. The upcoming Nigeria Mining Week, held from November 18 to 20, 2024, in Abuja, aims to highlight Nigeria’s extensive mineral resources and their potential for national development. Mary Ogbe, the Permanent Secretary of the Ministry of Solid Minerals Development, briefed media outlets on the importance of this event, emphasizing that Nigeria is rich in valuable yet untapped minerals. The focus remains on reforming regulatory frameworks to unlock these resources sustainably. The conference will centre on leveraging these mineral assets to drive economic transformation, in line with the Federal Government’s Renewed Hope Agenda. Significant progress has been made in the mining sector to improve the investment climate through transparency and regulatory clarity. Dele Ayanleke, National President of the Miners Association of Nigeria, noted that the Nigeria Mining Week is a unique platform attracting international participation and has been essential for stimulating ideas and policy reforms in the mining sector. The event also showcases the latest technologies to enhance mining returns. Habeeb Jaiyeola from PwC Nigeria reiterated PwC’s commitment to supporting the sector’s growth, stating it remains vital for diversifying Nigeria’s economy away from oil dependence. The conference will open discussions on current challenges facing the sector and explore viable solutions to strengthen its future. Overall, the Nigeria Mining Week serves as an essential forum for collaboration among stakeholders to advance the mining industry and capitalise on Nigeria’s mineral wealth for economic prosperity.

The article discusses Nigeria’s efforts to harness its mineral wealth for economic diversification and growth. It features the upcoming Nigeria Mining Week, intended to showcase the country’s mineral resources, enhance investment opportunities, and facilitate stakeholder engagement. Government officials and industry leaders highlight the importance of developing a robust mining sector as a strategy to reduce reliance on oil revenues.

The Nigeria Mining Week is a strategic initiative aimed at enhancing the mining sector’s contribution to Nigeria’s economy. With a focus on international collaboration, sustainable resource management, and technological innovation, the event presents an opportunity to address challenges and unlock the country’s untapped mineral potential. The government’s commitment to regulatory reform and investment promotion underlines the significance of the mining sector in achieving economic diversification.

Original Source: tribuneonlineng.com

The post FG Plans to Unlock Nigeria’s Mineral Wealth for Economic Advancement first appeared on Nigerian Mining News.