Nigeria is taking a bold step to unlock its estimated $700 billion mineral wealth through a strategic partnership between the Solid Minerals Development Fund (SMDF) and the National Association of Securities Dealers (NASD) a groundbreaking collaboration designed to bridge the gap between mining operations and capital market financing.
The Executive Secretary of SMDF, Mrs. Fatima Shinkafi, represented by Abdulmajeed Amussah, Technical Adviser, made this known during his presentation at the ongoing 10th Nigeria Mining Week in Abuja.
Amussah described the collaboration as a “forward-looking effort to integrate market-based funding solutions into the solid minerals value chain,” adding that it would “redefine mining finance by mobilising domestic and foreign capital through structured, transparent, and innovative instruments.”
He emphasized that despite Nigeria’s abundance of strategic and precious minerals across all 36 states and the FCT, the sector currently contributes less than 1% to the national GDP.
“With the right data, transparency, and investment platforms, Nigeria can replicate the transformation achieved by countries like Botswana and Australia turning mineral resources into shared prosperity and sustainable national growth,” he said.
Explaining the modalities, Amussah noted that the SMDF–NASD partnership would create structured investment pathways for mining companies, especially new license holders, via NASD’s Digital Securities Platform (DSP).
According to him, the collaboration will deliver tangible value through project pipeline development, capacity building, investor protection, and post-issuance governance, all aimed at boosting confidence and accountability within the mining ecosystem.
“The future of funding for Nigeria’s solid minerals sector lies in innovation,” Shinkafi affirmed through her representative, urging investors, regulators, and operators to seize the opportunity to align finance and mining for sustainable national transformation.
