Editor
By Fatima Saka
The Federal Government has unveiled a groundbreaking policy requiring all mining lease applicants to submit a comprehensive value addition plan.
This bold initiative prioritizes local mineral processing, aiming to spur industrial growth, generate sustainable jobs, and reduce reliance on raw mineral exports. The move reinforces Nigeria’s position as a global leader in sustainable mining.
“This policy is not just about driving economic growth but also about positioning Nigeria as a global model for sustainable mining,” stated Dr. Mary Ogbe, Permanent Secretary of the Ministry of Solid Minerals Development.
Speaking at the opening of the 2024 Nigeria Mining Week in Abuja, Dr. Ogbe emphasized that this policy forms a cornerstone of the Federal Government’s ambitious 7-Point Agenda for the Mining Sector, spearheaded by President Bola Ahmed Tinubu and Minister of Solid Minerals Development, Dr. Dele Alake. This agenda seeks to foster innovation, operational integrity, inclusivity, and transparency while enhancing the sector’s global competitiveness.
Key Reforms to Transform the Mining Industry
In addition to the value addition policy, Dr. Ogbe outlined several transformative initiatives:
Energy Transition Minerals Development Policy: Harnesses Nigeria’s rich reserves of critical minerals such as lithium, cobalt, and nickel to meet growing global demand for renewable energy technologies.
Legal Reforms: Includes a comprehensive review of the Nigerian Minerals and Mining Act (2007) to align the legal framework with international standards.
Community Development Agreements (CDA): Strengthens agreements to ensure host communities benefit directly from mining activities while actively participating in resource governance.
Human Capital Development: Launches capacity-building programs and strategic partnerships to equip Nigerians with the skills necessary for a thriving mining sector.
“We are redefining mining’s role in Nigeria’s economy. Every step we take focuses on sustainability, inclusivity, and resilience, ensuring that our local industries and communities grow alongside the sector,” Dr. Ogbe added.
Collaboration and Stakeholder Engagement
Dr. Esther Udo, Director of the Investment Promotion and Mineral Trade Department, also highlighted the importance of partnerships in unlocking Nigeria’s vast mineral wealth, which includes over 44 commercially viable resources.
The Ministry’s six-pillar strategy aims to:
Strengthen stakeholder dialogue,
Provide cutting-edge geological data,
Foster strategic partnerships,
Enhance digital transparency,
Ensure security, and
Promote environmental and social sustainability.
“Through collaboration with title holders and investors, we are building a mining ecosystem that is efficient, sustainable, and inclusive, creating value for all stakeholders,” Dr. Udo remarked.
Highlights from the 2024 Nigeria Mining Week
The opening day featured a series of sessions addressing critical aspects of the sector’s growth and sustainability:
1. Boosting Mineral Exploration: Explored strategies to secure domestic and international investments while identifying financing pathways for exploration and mining companies.
2. Business Networking: Facilitated meaningful partnerships and expanded industry connections.
3. ESG Compliance Workshop: Highlighted the importance of responsible mining practices.
4. Accelerating Investments: Focused on enhancing infrastructure to support exploration and operations.
5. Development Minerals Roundtable: Examined the untapped potential of development minerals to drive economic growth.
Distinct News report that these sessions fostered actionable solutions and underscored the government’s commitment to building a thriving, globally competitive, and sustainable mining industry.
With these transformative reforms and collaborative efforts, Nigeria is set to position its mining sector as a cornerstone of economic growth, directly benefiting its citizens and advancing the country’s industrialization agenda.
