The Nigerian Ministry of Solid Minerals Development has announced the launch of a new TV drama series titled ‘Hidden Riches’. This series aims to explore the intricacies and potential of Nigeria’s mining industry, showcasing the lives of miners, politicians, activists, and everyday Nigerians as they confront various challenges. The narrative intends to shed light on how solid minerals can drive sustainable economic growth in Nigeria. Featuring prominent actors like Sydney Diala and Lara Owoeye-Wise, it will air weekly from January 25, 2025, on NTA, at 8.05pm.

The initiative of the ‘Hidden Riches’ drama series stems from the Nigerian government’s push to highlight the importance of the mining sector in economic development. The drama aims to engage the public and create awareness regarding the vast mineral resources in Nigeria. As the country looks to diversify its economy, solid minerals are seen as pivotal in achieving sustainable growth and resource management.

The debut of ‘Hidden Riches’ represents a significant step in showcasing Nigeria’s mining potential and its role in economic transformation. By intertwining the stories of diverse characters, the series aims to raise awareness about mining opportunities and encourage public participation in resource management.

Original Source: blueprint.ng

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A new TV drama series titled “Hidden Riches” will premiere on January 25, focusing on the complexities and potential of Nigeria’s mining industry. Initiated by the Ministry of Solid Minerals Development, the series features a talented cast, including Sydney Diala and Lara Owoeye-Wise. It aims to depict the interplay of politics, power, and ambition entwined with the country’s rich mineral resources, showcasing the challenges and opportunities faced by miners, activists, and everyday citizens. The series is expected to raise awareness about the opportunities within the solid minerals sector and encourage participation in sustainable economic growth.

The launch of “Hidden Riches” is part of the Nigerian government’s strategy to leverage its vast mineral wealth for economic development. By highlighting the intricacies of the mining sector, the series seeks to inform viewers of its potential to contribute to Nigeria’s economy sustainably. This initiative aligns with ongoing efforts to diversify the economy under President Tinubu’s Renewed Hope Agenda, emphasising solid minerals as a critical pathway for transformation and resource management.

“Hidden Riches” represents a significant cultural and educational initiative, aiming to inform not only about Nigeria’s mining issues but also about the economic benefits that can arise from responsible mining. By engaging a broad audience through storytelling, the series aspires to inspire participation in the industry and highlight its role in national development.

Original Source: leadership.ng

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The House of Representatives in Nigeria has called on the Ministry of Solid Minerals Development to enhance lithium production as a means to boost revenue. This decision follows a motion by Rep. Victor Obuzor, highlighting the sector’s underdevelopment despite the country’s rich mineral resources.

Obuzor noted that mining’s contribution to Nigeria’s GDP has plummeted from about five percent in the 1950s to less than 0.8 percent today, largely due to the rise of oil and gas. He advocated for increasing focus on lithium, critical for energy-dense batteries essential in renewable energy technologies.

Although Nigeria has undetermined lithium reserves, minerals have been found in states like Nasarawa and Kogi. Given rising global demand, with lithium prices soaring to over $46,000 by 2023, there are concerns about insufficient funding for mining initiatives. The Solid Minerals Development Fund has reportedly failed to invest significantly in lithium exploration.

To address this, the legislature proposed establishing the Nigerian Lithium Production Agency, responsible for creating a comprehensive lithium industry, developing infrastructure, and implementing a regulatory framework that would bolster investments in the entire lithium value chain. The House recommended increasing funding for the Nigerian Geological Survey Agency to facilitate proper mineral mapping and surveys.

Lithium is a vital mineral for rechargeable batteries, increasingly important in the shift towards clean energy. Despite Nigeria’s potential in lithium mining, the sector has been neglected over the years in favour of oil. The current move by the House of Representatives highlights a significant shift in policy to leverage natural resources for economic stability.

In summary, the Nigerian House of Representatives is pushing for enhanced lithium production to revive the mining sector, which has seen a sharp decline. With significant global demand for lithium, strategic investments and the establishment of a dedicated agency are seen as crucial steps for Nigeria to harness its mineral wealth effectively.

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The House of Representatives has urged the Ministry of Solid Minerals Development to seek additional funding for the Nigerian Geological Survey Agency (NGSA) to improve mineral mapping and assess Nigeria’s lithium reserves accurately. This initiative aims to stimulate revenue from lithium, which plays a crucial role in clean energy technologies. The call followed a motion by Rep. Victor Obuzor, highlighting the potential of Nigeria’s mineral wealth, particularly in lithium, which is vital for rechargeable batteries and the global energy transition.

The motion proposes establishing a Nigerian Lithium Production Agency aligned with the Nigerian Minerals and Mining Act 2007 to foster a comprehensive lithium industry and regulatory framework. Mr. Obuzor emphasised lithium’s increasing market value, noting a significant jump from $5,180 per tonne in 2010 to $46,000 in 2023. Despite promising lithium discoveries in several states, the country suffers from a lack of comprehensive data on reserves and inadequate funding for mining projects.

Obuzor expressed concern over missed opportunities in the lithium sector, attributing this to underinvestment and inadequate funding structures, such as the Solid Minerals Development Fund (SMDF), which has not effectively catalysed investments in lithium mining. He highlighted the need for urgent action to capitalise on the burgeoning lithium market, which is poised for significant growth in the coming years, as global demand could increase dramatically by 2040, driven by the clean energy push.

Nigeria has abundant mineral resources, yet its mining sector has declined significantly since the mid-20th century, primarily due to the oil and gas boom, which diverted focus from mining. Currently, the mining sector contributes less than 0.8% to Nigeria’s GDP compared to the continental average of nearly 5%. The urgent need for enhanced funding and strategic development in the lithium industry arises amid a growing global demand for lithium, particularly for clean energy applications such as battery production.

To revitalise Nigeria’s mining sector and leverage its lithium resources, increased funding for the NGSA and the establishment of a dedicated lithium agency are essential. With lithium’s soaring price and global demand set to rise, Nigeria has the opportunity to harness its mineral wealth, provided that necessary investments and frameworks are put into place. The call for action from the House of Representatives reflects a critical need for change in the country’s approach to mining and resource management.

Original Source: nairametrics.com

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The House of Representatives in Nigeria has urged the Federal Government to boost funding for lithium exploration. This call arose from a motion adopted during a plenary session, sponsored by Victor Obuzor, highlighting the significant price rise of high-quality lithium carbonate, which shifted from $5,180 in 2010 to $46,000 in 2023. Obuzor noted that neglecting lithium’s potential could mirror past errors in the oil and gas sector, where only upstream value is pursued.

The motion emphasized the need for improved funding for the Nigerian Geological Survey Agency to enhance mineral mapping and surveys for lithium deposits. Obuzor indicated that significant lithium-bearing minerals have been found in various states, yet there remains no clear estimate of the nation’s reserves. The House expressed concerns about the lack of investment in lithium mining, despite the Solid Minerals Development Fund being established for this purpose.

Following the motion’s adoption, Speaker Tajudeen Abbas advised the creation of the Nigerian Lithium Production Agency to develop a comprehensive lithium industry and its regulatory framework. Moreover, there will be an audit of the Solid Minerals Development Fund to ensure proper utilisation of resources. Nigeria’s mining sector, once a significant contributor to the economy, now only accounts for less than 0.8% of GDP, mainly due to the dominance of oil and gas development.

Lithium is a critical mineral for renewable energy technologies, yet Nigeria’s potential remains largely untapped. The country’s mining sector is historically significant but has diminished over the years as oil and gas became predominant. Recently, global demand for lithium has surged, leading to increased prices, which may incentivise investment in local exploration initiatives. Effective mining and exploration strategies are essential for rejuvenating this sector and boosting economic growth.

The Nigerian House of Representatives has highlighted the urgent need for increased funding towards lithium exploration and development, recognising the substantial economic benefits that this could bring. By pushing for enhanced geological surveys and the establishment of dedicated agencies, the House aims to unlock Nigeria’s lithium potential, which is critical amidst a global shift towards renewable energy sources. Acknowledging past mistakes in the oil sector, the government is urged to strategically invest in the lithium industry for sustainable economic growth.

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Nigeria’s Ministry of Solid Minerals Development has mandated all mining lease applicants to submit a detailed value addition plan. This initiative seeks to reduce reliance on raw mineral exports and prioritise local mineral processing, thereby stimulating industrial growth and job creation. Dr. Mary Ogbe, Permanent Secretary of the Ministry, stated that the policy positions Nigeria as a model for sustainable mining and is integral to the government’s 7-point Agenda aimed at fostering innovation, integrity, and inclusivity within the sector. Also highlighted was the Energy Transition Minerals Development Policy, which aims to exploit Nigeria’s critical mineral resources for renewable energy needs. Moreover, reforms such as strengthening Community Development Agreements and enhancing human capital through skills development were mentioned as vital steps towards a resilient mining sector. Dr. Esther Udo, Director of Investment Promotion, reinforced the need for partnerships to harness the potential of Nigeria’s 44 commercially viable minerals, ensuring equitable benefits for host communities. The ongoing Nigerian Mining Week features discussions and workshops focused on enhancing mining sector growth and sustainability, covering topics like ESG compliance and investment strategies. Overall, these initiatives facilitate a cooperative dialogue among stakeholders to establish a robust mining ecosystem in Nigeria.

The Nigerian government is implementing reforms in the mining sector to pivot from raw mineral exports to value addition within the country. The Ministry of Solid Minerals Development is spearheading this initiative as part of its broader strategy to enhance the economic viability of mining. The focus is on creating jobs, better managing resources, asserting sustainable practices, and ensuring local community involvement in mining activities. These efforts are essential for aligning Nigeria’s mining sector with global standards and responding to the increasing demand for sustainable practices.

The Ministry of Solid Minerals Development’s new policy mandates that mining lease applicants provide value addition plans, aimed at reducing raw mineral exports and encouraging local processing. This initiative, along with significant reforms and strategies, is designed to create a sustainable, inclusive mining sector that benefits both the economy and local communities, while positioning Nigeria as a leader in responsible mining practices.

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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 Federal Government of Nigeria is making significant investments in technology and capacity building to transform the nation’s mining sector. Dr Mary Ogbe, Permanent Secretary of the Ministry of Solid Minerals Development, highlighted these efforts at the ninth Nigeria Mining Week Pre-conference workshop in Abuja, where she presented a paper on the legal and regulatory framework for mineral exploration. The use of modern technology is seen as vital for attracting major investors and enhancing local expertise within the sector. Dr Ogbe affirmed that the government’s focus on human capital development would not only boost productivity but also establish Nigeria as a centre of mining expertise. She emphasised the importance of transparency, sustainability, and local empowerment within the mining industry to foster national development. Collaboration among stakeholders is essential to unlock the sector’s full potential. Further insights were provided by Dr Esther Udo, Director of Investments Promotion and Mineral Trade, who stressed empowering mineral title holders as crucial partners in attracting investors. Udo outlined strategies including creating dialogue platforms and driving policy reforms to enhance clarity and investment prospects. Additionally, Mrs Aisha Rimi from the Nigeria Investment Promotion Commission presented measures aimed at enhancing investment in the solid minerals sector, such as tax holidays and improved geological knowledge. The overarching theme of the mining week focuses on building a resilient mining sector to support Nigeria’s economic growth. Organised by the Miners Association of Nigeria and the Ministry of Solid Minerals Development, this event aims to solidify the mining sector as a cornerstone of Nigeria’s economy.

The Nigerian government is actively working to improve the mining sector through technology and stakeholder collaboration. The ministry responsible for solid minerals development is focused on creating an environment that attracts investment while enhancing local expertise and capacity. Recent workshops, including the Nigeria Mining Week, serve as platforms for discussing regulations, policies, and strategies to boost the mining industry.

In conclusion, Nigeria’s efforts to revitalise its mining sector through technological advancements and strategic collaborations highlight a commitment to sustainable growth. By prioritising human capital and empowering key stakeholders, the government aims to strengthen the industry’s role in national development and attract significant foreign investment.

Original Source: nannews.ng

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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

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The Nigerian Federal Government has arrested 300 illegal miners as part of initiatives to revitalize the mining sector. This announcement was made by the Minister of Solid Minerals, Dele Alake, during a briefing to the House Committee on Solid Minerals. The strategy includes a 7-point agenda aimed at enhancing security and combating illegal mining, crucial for economic growth. Alake highlighted that over 2,000 trained mine marshals contributed significantly to this success by executing arrests, including foreign nationals, thus curbing unauthorized activities. Underlining the importance of collaborative efforts, he noted that support from President Bola Tinubu has been instrumental, enabling swift actions for security in mining areas. Moreover, the focus isn’t solely on security; efforts are underway to position Nigeria as a global mineral hub, attracting international investors eager to form partnerships for mutual growth. The overall objective is to ensure that Nigeria’s mining sector becomes a vital contributor to sustainable economic development.

Illegal mining has long plagued Nigeria’s mining sector, affecting local communities and the country’s international reputation. The government aims to address this through targeted actions, enhancing security measures, and promoting legal mining practices. The appointment of Dele Alake as Minister of Solid Minerals signals a renewed focus on transforming the sector to harness its economic potential. By implementing comprehensive strategies and strengthening collaboration between various ministries, the government aims to create a stable environment for legitimate mining operations and attract foreign investment.

The arrest of 300 illegal miners highlights the Nigerian government’s commitment to transforming the mining sector through enhanced security and strategic partnerships. With a clear 7-point agenda and significant inter-ministerial collaboration, the initiative aims not only to combat illegal activities but also to establish Nigeria as a prominent player on the global mineral stage, fuelling economic growth opportunities.

Original Source: www.tv360nigeria.com

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