The Minister of Solid Minerals Development, Dr. Dele Alake, has announced a new phase of growth for Nigeria’s mining sector, emphasizing its potential to become a cornerstone of the country’s economy.
In anticipation of the 9th edition of Nigeria Mining Week, Alake revealed that Nigeria possesses over 44 types of underutilized minerals, offering vast economic potential for the nation.
At a press briefing ahead of the conference scheduled for November 18-20 at the Abuja Continental Hotel, Alake highlighted a strategic shift from raw mineral extraction to value-added processing.
“Our goal is to retain wealth within Nigeria’s borders, empower local industries, and create job opportunities that will reverberate throughout the economy,” he stated.
Themed “From the Inside Out: Building the Mining Sector to be the Cornerstone of Nigeria’s Economy”, the event will bring together government officials, industry stakeholders, and international investors to redefine the future of Nigerian mining.
Alake stressed the sector’s role in the Tinubu administration’s Renewed Hope Agenda, aiming to drive economic diversification, community development, and job creation.
Central to this vision is strengthening the quality of geoscientific data, which Alake cited as vital for investment attraction and sector stability. “Precision in data attracts investors and ensures sustainability in our mining sector,” he said, underscoring the need for transparency.
Several transformative projects are underway, including lithium and rare earth processing plants in Kwara and Kebbi states, a tantalite processing plant in Abuja by Hasetins, and a new gold refinery in Gwarinpa. These initiatives will bolster Nigeria’s mining capabilities, along with enhanced security measures such as the newly launched Mining Marshals, Mines Surveillance Task Force, and satellite surveillance to counter illegal mining.
Supporting artisanal and small-scale miners is also a priority, with over 250 new cooperatives registered to provide a formal operating framework. Additionally, 150 new mineral buying centers have been established, further strengthening sector formalization.
The Nigeria Mining Week 2024 agenda will tackle pressing issues like environmental sustainability, financing, infrastructure, and gender inclusion in mining. Panel discussions and workshops will explore these topics, along with ways to position Nigerian minerals on the global stage. Alake extended his appreciation to event sponsors and partners, expressing confidence that the conference will elevate mining standards and accelerate Nigeria’s economic transformation.
The 9th edition of Nigeria Mining Week promises to showcase Nigeria’s ambition to establish itself as a major player in the global mineral value chain, reaffirming the mining sector’s pivotal role in the nation’s economic development.
