By Fatima Saka
Nigeria is taking bold steps to unlock its estimated $700 billion mineral wealth through a groundbreaking partnership between the Solid Minerals Development Fund (SMDF) and the National Association of Securities Dealers (NASD).
The collaboration seeks to bridge the gap between technical mining capacity and financial innovation, positioning the solid minerals sector as a key driver of economic diversification.
The Executive Secretary of SMDF, Mrs. Fatima Shinkafi, represented by Abdulmajeed Amussah, Technical Adviser, announced the initiative during her presentation at the ongoing 10th Nigeria Mining Week in Abuja.
Amussah described the partnership as a forward-looking initiative designed to integrate market-based funding solutions into Nigeria’s solid minerals value chain.
He noted that the alliance would “redefine mining finance by mobilising domestic and foreign capital through structured, transparent, and innovative instruments.”
Highlighting the importance of the move, Amussah pointed out that despite Nigeria’s rich endowment of strategic and precious minerals across all 36 states and the FCT, the sector still contributes less than 1% to the nation’s GDP.
“With the right data, transparency, and investment platforms, Nigeria can replicate the transformation achieved by countries like Botswana and Australia, turning mineral resources into shared prosperity and sustainable national growth,” he said.
He further explained that the SMDF–NASD partnership would open structured investment pathways for mining companies, especially newly licensed operators, through NASD’s Digital Securities Platform (DSP).
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According to him, the collaboration will deliver tangible value through project pipeline development, capacity building, investor protection, and post-issuance governance, boosting confidence and accountability in the mining ecosystem.
Mrs. Shinkafi, through her representative, reaffirmed the Fund’s commitment to driving financial inclusion in the sector, stating:
“The future of funding for Nigeria’s solid minerals sector lies in innovation. We must seize this opportunity to align finance and mining for sustainable national transformation.”
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