By Fatima Saka
The Federal Government has reiterated its determination to unlock Nigeria’s vast solid minerals potential, positioning the sector as a key driver of national economic transformation.
Minister of Solid Minerals Development, Dr. Dele Alake, speaking on Wednesday at the NASD–Solid Minerals Development Fund (SMDF) webinar on Unlocking Nigeria’s Mineral Potential through the Capital Market, declared that Nigeria stands at the threshold of a mining renaissance.
Represented by his Senior Adviser on Mining and Policy, Amira Adamu Waziri, the minister stressed that capital, technology, and strategic partnerships are critical to advancing the sector beyond raw extraction into a catalyst for inclusive, resilient, and globally competitive economic growth.
“We have the mineral resources. We have the political will. What we now require is the capital, technology, and partnerships to unlock this potential,” Alake affirmed.
The webinar brought together global experts and stakeholders, who emphasized innovative financing models, transparent regulatory frameworks, and risk capital as prerequisites for sustainable growth in the sector.
Paul Lalovich, Director of Agile Dynamics, announced a Memorandum of Understanding (MoU) between Hyperchain Technologies and Agile Dynamics to build next-generation blockchain infrastructure, enabling tokenization of real-world assets, transparent capital flows, and new models of digital finance across emerging markets.
Mining expert Jon O’Callaghan cautioned that Nigeria’s solid minerals sector would remain trapped in artisanal practices unless urgent steps were taken to attract risk capital for exploration. He underscored the importance of following the seven stages of mineral project development, from reconnaissance and licensing to feasibility and financing, warning that shortcuts undermine investor confidence.
Director-General of the Nigeria Mining Cadastre Office, Obadiah Simon Nkom, highlighted the importance of proper licensing to legalize mining assets.
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Meanwhile, Executive Secretary of the SMDF, Hajia Fatimah Shinkafi, reaffirmed the Fund’s commitment to mobilizing capital market participation and aligning with President Bola Ahmed Tinubu’s Renewed Hope Agenda.
She noted that insights from the session would help accelerate the country’s mining renaissance, positioning solid minerals as a strategic pillar of Nigeria’s economic diversification drive.
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