Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, says that the reforms in the mining sector is aimed at improving transparency, de-risking investment and unlocking value across the mineral value chain,
Addressing the media ahead of the 10th edition of Nigeria’s Mining Week, themed `Nigeria Mining: From Progress to Global Relevance`, on Friday in Abuja, Alake said that in the last three years, the Nigerian Government had galvanised domestic reforms and policy initiatives to transform the mining sector.
“We are positioning Nigeria to compete globally and to be recognised as the mining investment destination of choice, leveraging on our vast mineral endowments, our improving regulatory environment and our commitment to sustainable development.
“Under the Renewable Agenda of President Bola Tinubu, our ministry had pursued reforms aimed at improving transparency, de-risking investment and unlocking value across the mineral value chain,“ Alake said.
He disclosed that some of the key achievements in the sector included strengthening the Mining Cadastre Office for transparent licensing and establishing a new Solid Minerals Development Roadmap that focuses on democratisation, infrastructure and local content.
According to Alake, the other achievements were the deployment of the Nigerian Mineral Resources Decision Support System, development of a value-addition and diversification framework to promote local processing and job creation and the establishment of the Nigerian Mining Corporation.
“There’s also the introduction of new guidelines for community development agreements, CDAs, to ensure that host communities benefit directly from mining activities in their environment,“ he said.
The minister stated that the 10th edition of the Mining Week promises to be the most impactful with about 100 exhibitors showcasing cutting-edge mining technologies and equipment, and about more than 1,000 delegates and participants from within and outside Nigeria.
The minister also said that the activities at the event would include high-level mining discussions and investment forums featuring global mining executives, financiers, and policy makers, stakeholders from around the globe.
“There is G2B, what we call government-to-business and B2B, which will be business to business networking and expanded investment pavilion highlighting Nigeria`s critical minerals, including Lithium, gold, tin and rare earth element, “ he added.
GIK/APA