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.

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.

Original Source: von.gov.ng

The post Nigeria Enforces Value Addition Plans for Mining Lease Applicants 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 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

The post Nigeria Prioritises Technology Investment to Enhance Mining Sector 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.

The Nigerian government has successfully apprehended 300 illegal miners in a nationwide operation aimed at reducing unauthorised mining activities. This announcement was made by the Minister of Solid Minerals Development, Dr. Dele Alake, during an oversight visit by the House Committee on Solid Minerals in Abuja. Since the deployment of over 2,000 mining marshals, authorities have seen a significant decrease in illegal mining operations, even among foreign nationals. Dr. Alake credited this achievement to the support of President Bola Tinubu, which has enabled a fruitful collaboration between the Ministries of Solid Minerals and Interior. This partnership allowed for the rapid deployment of resources to safeguard mining areas. Dr. Alake articulated a vision for turning Nigeria into a global mineral powerhouse while emphasising the need for in-country processing to retain wealth within the nation. The Minister expressed optimism regarding the potential of the solid minerals sector to foster sustainable economic development, particularly with increasing revenues and global investor interest. He called for ongoing legislative and institutional support to solidify a robust and respected industry. Meanwhile, Garza Gbefwi, Chairman of the House Committee on Solid Minerals Development, reaffirmed the commitment to maintaining transparency and growth in the sector, while emphasising the necessity for improved funding for geological data collection. Gbefwi pointed out the challenges associated with mineral exploration due to its capital-intensive nature, urging for significant financial backing for the Nigerian Geological Survey Agency (NGSA) and the Solid Minerals Development Fund (SMDF). He also called for proper management of community consent during licensing to avert potential conflicts, advocating for a transparent framework that respects local rights. Dr. Ogbe, the Ministry’s Permanent Secretary, reassured continued collaboration with the House Committee to further economic diversification and job creation.

Illegal mining activities have posed significant challenges to Nigeria’s economy, environment, and social landscape. The rise of unregulated mining operations has prompted the government to take decisive action, ensuring compliance with mining laws and regulations. The establishment of mining marshals and inter-ministerial collaborations marks a critical step towards enforcing lawful practices and protecting the nation’s mineral resources. The government aims to reposition Nigeria as a significant player in the global minerals market, focusing on local value addition and processing to enhance economic sustainability.

The Nigerian government’s crackdown on illegal mining through the arrest of 300 illegal miners represents a significant step towards safeguarding the country’s mineral wealth. With a strong commitment from both the Ministry of Solid Minerals and legislative bodies, there is a collective effort to attract investment and promote responsible mining practices. By addressing funding needs and ensuring community involvement, Nigeria can enhance transparency and fortify its position in the global mineral sector.

Original Source: newscentral.africa

The post Nigeria Arrests 300 Illegal Miners in Nationwide Crackdown 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.