Mary Ogbe, Permanent Secretary of the Federal Ministry of Solid Minerals Development, announced that Nigeria’s solid minerals sector has exceeded its revenue target of N10 billion for 2024, achieving this milestone by September 2024. This information was shared during the Nigeria Mining Week in Abuja, where she highlighted the government’s commitment to developing the industry.

Ogbe emphasised the significant strides made in the sector through progressive policies and regulations that are transforming Nigeria’s economic landscape. She stated, “We are not merely refining an industry, we are building a resilient and inclusive mining powerhouse that taps into the vast potential of our land and its people.”

The Permanent Secretary pointed out that the ministry, under Dele Alake’s leadership, has formed a 7-point agenda aimed at creating economic growth via mining. She expressed confidence in continued improvement in revenue generation, predicting even higher figures by the year-end.

Lolade Ososami from Udo Udoma and Belo-Osagie reiterated the need for enhanced security to increase investor confidence, stating, “We need to boost confidence locally and internationally such that at least when you have a license, you can access your site.” She also noted areas for improvement in the legislative and regulatory framework for mining.

The Nigerian solid minerals sector is experiencing significant growth, having surpassed its revenue target ahead of schedule. Commitments to robust policies and security enhancements are crucial for sustaining this growth, with emphasis on building a strong regulatory framework to attract investment and nurture local talent.

Original Source: businessday.ng

The post Nigeria’s Mining Sector Surpasses N10 Billion Revenue Target for 2024 first appeared on Nigerian Mining News.

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

The post Dr. Dele Alake Honoured by NMGS: A Commitment to Mining Sector Innovation first appeared on Nigerian Mining News.

Abdullahi Sule, the governor of Nasarawa State, has highlighted the need for Nigeria to abandon the community consent form as the sole means for granting mining licences. Speaking at the NMGS conference, he pointed out that this restriction hampers states from obtaining proper revenue from the mining sector, which he believes is Nigeria’s true source of wealth, surpassing oil.

To combat the challenges in obtaining mining licences, the governor introduced an executive order mandating that all companies mining in commercial quantities must process their minerals within the state. Prior to this law, despite 416 mining licences existing, Nasarawa State received no revenue. Following implementation, the state saw the establishment of numerous processing plants, boosting local revenue.

Dele Alake, Minister of Solid Minerals Development, emphasised the government’s commitment to modernising the sector through geospatial data and remote sensing technologies. These initiatives are designed to improve mineral exploration and investment decision-making while minimising uncertainties.

Alake’s representative, Dr. Mary Ogbe, also reaffirmed the federal government’s dedication to fostering an environment conducive to innovative growth in mining and related sectors. This includes the creation of mineral processing hubs aimed at enhancing value addition and diminishing dependence on raw mineral exports.

Prof. Akinade Shadrach Olatunji, President of NMGS, stated that integrating agriculture with advanced geoscience and mining solutions would significantly transform Nigeria’s economy. He noted that industrialised nations have long recognised this relationship, supporting well-funded geoscience and mining agencies with top-tier talent.

In summary, Governor Abdullahi Sule advocates for reforming Nigeria’s mining licence system to enhance revenue. He has implemented measures in Nasarawa State to facilitate local mineral processing. The federal government is also focused on leveraging technology and creating hubs for mineral processing to boost value addition, aiming to transform the mining sector into a key economic driver alongside agriculture.

Original Source: dailytrust.com

The post Governor Sule Advocates for Mining Licence Reform in Nigeria first appeared on Nigerian Mining News.

The inaugural Investment Summit and Roadshow for Solid Minerals in Nigeria, organised by the Nigerian High Commission in South Africa with Rosebank Capital, showcased the country’s mining potential to South African investors. The event highlighted policy reforms, community agreements, and innovative systems aimed at revitalising the sector. Key discussions included investment incentives, the digitisation of mining license processes, and the need for local value addition in mineral processing.

Engaging sessions helped clarify misconceptions about Nigeria’s business climate. Investors raised concerns over policy fluctuations, which were addressed by showcasing the amendment process for the Nigeria Minerals And Mining Act (2007). This aims to solidify reforms and improve the investment framework. The revised Community Development Agreements (CDAs) were also introduced to ensure host community consent for mining operations, fostering better relationships.

The Nigeria Mineral Decision Support System (NMDSS) emerged as a pivotal tool to attract investors, providing comprehensive data for informed decisions without necessitating travel. President Bola Tinubu’s promise of “Easy In, Easy Out” regarding profit repatriation, paired with tax waivers for mining equipment imports, further appealed to investors. Dr. Dele Alake emphasised the importance of local processing and skill transfer to boost Nigeria’s GDP.

Improvements in the mining license application process through the Electronic Mining Cadastral System (EMC+) were presented as a significant leap forward. Additionally, potential collaborative programmes were discussed for mutual certification of mining professionals between Nigeria and South Africa.

The summit was marked by several commitments, including interest from Pilanesberg Platinum Mines to explore similar initiatives in Nigeria and an MOU for a $1 billion coal processing and power plant project in Enugu State. Crystal Partners also expressed intentions to collaborate with Nigeria’s mining sector. Overall, the Roadshow was deemed a success, signalling a promising future for Nigeria’s solid minerals sector under proactive leadership.

The focus of this article is the recent Investment Summit and Roadshow for Solid Minerals held in Johannesburg, South Africa, which served as a platform to present Nigeria’s mining sector potential to international investors. It highlighted ongoing reforms and initiatives aimed at transforming the mining industry and establishing Nigeria as a favourable destination for mining investments. The Nigerian delegation engaged investors through presentations, discussions on policies, and innovative systems designed to ease the investment process and enhance community relations.

In summary, the Investment Summit and Roadshow successfully showcased Nigeria’s mining potential, addressing investor concerns about policies and community engagement. Promises of improved processes, attractive incentives, and the commitment to local value addition were well received. Key partnerships and initiatives were formed, indicating a proactive approach to investing in Nigeria’s mining sector, suggesting a bright future under effective leadership.

Original Source: blueprint.ng

The post Investment Summit Showcases Nigeria’s Mining Potential to South African Investors first appeared on Nigerian Mining News.

Nigeria recently held a three-day conference to commemorate National Mining Week as part of efforts to boost the country’s mining sector. With rising global demand for minerals, the government aims to attract investments and local processing for mined materials. Noteworthy initiatives include requiring new investors to establish local processing plants and a crackdown on illegal mining activities. Authorities have announced the deployment of the Mining Marshal Corps, with over 300 illegal miners apprehended, highlighting ongoing challenges in the sector, which currently contributes a mere 0.77% to GDP.

The Nigerian mining industry boasts over 40 mineral deposits, including tin, iron ore, lead, zinc, and gold. However, illegal exploitation and insufficient local revenue generation hinder growth. The government seeks to address these issues through improved regulations, local manufacturing incentives, and increased surveillance to combat illegal mining, which has become rampant amid security challenges in the region.

While Nigeria’s government is taking steps to foster growth in the mining sector, significant challenges remain. The push for local processing is a key strategy, but experts suggest that without serious commitment from the authorities, the sector will continue to underperform. Enhancing local revenue generation and controlling illegal mining are crucial for unlocking the industry’s potential.

Original Source: www.voanews.com

The post Nigeria’s Mining Week Highlights Efforts to Revive the Sector first appeared on Nigerian Mining News.

The Nigerian federal government is laying the foundation for a competitive mining sector on the global stage. Dr Mary Ogbe, Permanent Secretary of the Ministry of Solid Minerals Development, made this statement at the opening of the 9th Nigeria Mining Week in Abuja. She highlighted that Nigeria is on a transformative journey, focusing not just on refining the industry but on creating an inclusive mining powerhouse that maximises local potential. The government is implementing a seven-point agenda aimed at driving economic growth through enhanced data gathering, mine surveillance, community engagement, environmental sustainability, and strict enforcement mechanisms. A significant shift in policy requires mining lease applicants to submit value addition plans, ensuring in-country processing of minerals to boost economic benefits and local job creation. Key policy directions include the Energy Transition Minerals Development Policy (2023), the Nigerian Mineral Value Chain Regulation (2021), and a revised Community Development Agreement (CDA) framework (2023), all aimed at enhancing the industry’s sustainability and accountability. Collaboration with stakeholders is crucial for tapping into the sector’s potential as a key element in diversifying Nigeria’s economy. The 2024 Nigeria Mining Week, described as a platform for realising this vision, brings together local and international mining stakeholders to discuss strategies for promoting mineral assets. Dr Esther N. Udo from the Ministry stresses prioritising value addition, mine surveillance, and fostering a transparent environment for investment as the way forward for Nigeria’s mining sector.

The article discusses Nigeria’s efforts to develop a world-class mining sector, reflecting a commitment to global competitiveness and local economic empowerment. The focus is on sustainable practices, value addition, and community engagement within the mining industry, signalling a significant policy shift from raw material exports to in-country processing. This transformative journey is underpinned by strategic initiatives and regulations to ensure robust industry development.

Nigeria is committed to establishing a mining sector that competes globally while fostering local economic growth. By implementing a transformative agenda, promoting value addition, and encouraging stakeholder collaboration, the government aims to reshape the mining landscape. The upcoming Nigeria Mining Week serves as a critical platform for advancing these initiatives and showcasing the sector’s potential as a cornerstone of the Nigerian economy.

Original Source: leadership.ng

The post Nigeria Enhances Mining Sector for Global Competitiveness first appeared on Nigerian Mining News.

The Nigerian government is committed to fostering a strong and inclusive mining sector that drives economic growth and benefits communities. Dr Mary Ogbe, Permanent Secretary of the Ministry of Solid Minerals Development, highlighted this during her address at the Nigeria Mining Week, emphasising a transformative seven-point agenda focusing on data gathering, surveillance, and community involvement. A crucial part of this agenda requires all mining lease applicants to submit a value addition plan, shifting the focus from raw mineral exports to in-country processing, job creation, and local industry support. Furthermore, a review of the Nigerian Minerals and Mining Act from 2007 is underway to align with international standards, enhancing transparency and sustainability while attracting quality investments. Ogbe urged stakeholders to partner with the government to unlock the sector’s potential for economic impact. Adekunle Elumaro, CEO of KSM2G, highlighted the importance of tax compliance among mining companies to facilitate ongoing reforms and boost investor confidence. The ongoing Nigeria Mining Week aims to unite key players in the industry, focusing on operational strategies to attract investments and technical expertise in the vibrant extractive sector.

The discussion surrounding the Nigerian mining sector is critical as the country seeks to diversify its economy. The mining industry, historically underdeveloped, presents significant potential for economic upliftment and community development. With ongoing reforms, Nigeria aims to attract both local and foreign investments, ensuring that mining activities benefit the wider population and adhere to best practice standards. The government’s focus on value addition and sustainable practices marks a strategic shift towards realising these goals.

In conclusion, Nigeria’s commitment to a resilient mining sector is evident through policy reforms and initiatives aimed at fostering local development. The focus on value addition, transparency, and community engagement, alongside a collaborative approach with stakeholders, positions Nigeria to maximise its mining potential. As the sector evolves, it is crucial for mining companies to engage positively with the reforms to secure a prosperous future.

Original Source: punchng.com

The post Nigeria’s Commitment to a Resilient and Inclusive Mining Sector first appeared on Nigerian Mining News.

In a bid to foster a sustainable mining sector in Nigeria, the Permanent Secretary of the Ministry of Solid Minerals Development, Dr Mary Ogbe, urged industry leaders to prioritise environmental responsibility and community engagement during a recent sensitisation programme. Represented by Mr Yunusa Mohammed, the director of Artisanal and Small Scale Mining, Dr Ogbe outlined the ministry’s goals, which include promoting renewable energy, enhancing compliance with environmental protocols and investing in host communities through the Community Development Agreement. The ministry’s initiatives are rooted in the 2007 Nigerian Minerals and Mining Act, emphasizing the necessity of responsible mining practices while striving for economic growth alongside environmental protection. Dr Ogbe stated, “Responsible mining is not an option; it is a necessity. Our vision is for a mining industry that drives economic growth, while protecting our environment and strengthening our communities.” The ministry aims to engage stakeholders in discussions surrounding best practices and solutions to promote responsible resource management. Dr Vivian Okono highlighted the importance of adhering to environmental regulations, ensuring mining operations align with both national and international standards.

The focus of this announcement centres on the importance of sustainable practices in Nigeria’s mining sector. The Ministry of Solid Minerals Development aims to address environmental challenges posed by mining activities and integrate community welfare into mining operations. The 2007 Nigerian Minerals and Mining Act provides a framework for these initiatives, mandating compliance with environmental standards to drive economic and social benefits.

The Ministry of Solid Minerals Development is actively steering Nigeria’s mining sector towards sustainability through stringent environmental protocols and community-focused investments. By prioritising climate action and encouraging stakeholder collaboration, they aim to ensure that mining contributes positively to both the economy and the environment, emphasising that responsible mining is essential for future development.

Original Source: blueprint.ng

The post MSMD Champions Sustainable Mining Initiatives for Nigeria’s Future 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.