Nigeria’s solid mineral wealth to drive economic growth – Alake

Minister of Solid Minerals Development, Dr Dele Alake, has noted Nigeria’s solid mineral wealth as essential to economic diversification, job creation, and sustainable growth.

He invited global investors to engage in partnerships that elevate Nigeria’s mining landscape to international standards.

The minister disclosed this in Abuja during a pre-event press briefing for the 9th edition of Nigeria Mining Week, set to take place from November 18-20, 2024, at Abuja Continental Hotel.

Alake stressed the event’s focus on fairness, transparency, and sustainability as the cornerstones of the mining sector.

He said that Nigeria Mining Week 2023 promises a collaborative environment where partners and stakeholders will contribute insights and solutions to propel the industry forward, creating an enduring impact on Nigeria’s economic development.

He said: “Nigeria’s mineral wealth serves as the backbone of economic diversification, job creation, and community development, advancing our national interest for the benefit of every Nigerian.

“Our country is blessed with more than 44 minerals of various categories, but to realise their full potential, we must move beyond extraction. We are focused on establishing systems and structures that allow Nigerians to benefit directly from our resources.

“Through local value addition, processing, and beneficiation, our aim is to transform Nigeria’s mineral wealth into industrial and economic power, generating jobs and supporting local businesses in ways that ripple through our economy.

“At the core of this transformative agenda lies our dedication to precision and transparency in data. Quality geoscientific data not only attracts investors but also enhances the credibility and stability of our sector.

“As we aim to present Nigeria as a destination where investments are well-informed and reliable, we invite the world to engage in a mutually beneficial partnership that elevates our mining landscape to international standards.”

Alake also underscored the importance of accurate geoscientific data to attract investment and bolster sector credibility.

He added, “Our commitment to value addition ensures that Nigerian resources don’t leave our shores in their raw form. Processing and refining facilities within Nigeria create local employment, deepen industrial capacity, and add layers of economic value that extend well beyond the mining sector itself.

“We are positioning Nigeria as a formidable player in the global mineral value chain, driven by a commitment to retain the wealth generated here within our communities.”

In his remarks, National President of the Miners Association of Nigeria, Mr Dele Ayanleke, praised the ministry’s leadership, noting that Nigeria Mining Week has become the leading platform for assessing industry progress, setting future agendas, and showcasing technological innovations.

He expressed gratitude to partners PwC and Vuka Group for their support in sustaining the event’s growth.

He said: “The Nigeria Mining Week has firmly established itself as the premium platform for industry assessment, setting future agendas, and showcasing emerging technologies and methodologies.”

Also speaking, the Partner, Mining Sector, PricewaterhouseCoopers (PwC) Nigeria, Habeeb Jaiyeola, reiterated PwC’s long standing support for Nigeria Mining Week, emphasising the event’s critical role in discussing progress, addressing challenges, and finding solutions for Nigeria’s mining sector.

He noted that this year’s theme, “From the Inside Out: Building the Mining Sector to be the Cornerstone of Nigeria’s Economy,” will highlight achievements while addressing current challenges and solutions.

Jaiyeola said: “The mining sector remains one of the key sectors that will contribute significantly to Nigeria’s diversification agenda and the shift towards a non-oil-dependent economy.”

He acknowledged the Nigerian government’s efforts in developing the mining sector, expressing optimism for its future potential and opportunities.