The Federal Government has secured a study facility to develop a roadmap on Nigeria’s critical value chain from extraction to beneficiation.
This is to be funded by the Global Council for Critical Minerals, a specialised organ of the Sustainable Energy for All, a United Nations (UN) agency set up to implement the agenda for sustainable development.
This is one of the low-hanging fruits secured on the sidelines of the ongoing yearly Mining Indaba holding in Cape Town, South Africa.
The study will examine the country’s critical mineral resources and reserves and set international best practices for value development .
Solid Minerals Development Minister, Dr Dele Alake, while exchanging views with the Principal Specialist, Renewable Energy, Sustainable Energy for All, Divyam Nagpal, thanked the UN agency for the gesture, saying it would enrich the development of Nigeria’s policy on solar power.
He said: “Since we have the materials for the production of solar power, we should vigorously pursue the policy of stopping the importation of solar power products and localise the production in Nigeria. We have a large market. Already, a lot of the products in Nigeria service the West African sub-region. So, whatever material we are producing or manufacturing has a ready West African market.”
The minister, who reviewed the steps taken by the administration of President Bola Tinubu in the mining sector since the assumption of office, assured the UN agency that the investment climate is positive and friendly.
He noted that if investors have an unfettered environment to operate, their profit margin would increase, and they would pay their royalties and discharge their obligations to the government.
Earlier, Nagpal, while briefing the minister, said the critical minerals’ roadmap of Nigeria would support the country’s policy formulation process and aid the development of the critical minerals sub-sector.
He, therefore, invited the minister to this year’s Sustainable Energy for All programme in Barbados with the theme, Sustainable Energy for Equity, Security and Prosperity.
The event is considered the pivotal gathering for leaders from government, business, finance, and communities to stimulate investment and tackle the interconnected challenges of energy, climate, and development.
