Dr. Dele Alake, Minister of Solid Minerals Development, urges Nigeria to move beyond extraction in mining to local value addition. At the Annual Nigeria Mining Week, he emphasized the need to establish systems that allow local benefits from mineral resources. The government is focused on enhancing security, addressing illegal mining practices, and attracting investment to strengthen the mining sector’s contribution to the economy.
Dr. Dele Alake, the Minister of Solid Minerals Development, emphasized that Nigeria must transition from a primarily extraction-focused mining approach to one that emphasizes local processing and value addition. Speaking at the inauguration of the ninth Annual Nigeria Mining Week in Abuja, Alake highlighted that Nigeria is endowed with 44 distinct minerals, including those crucial for energy transition. To harness these resources effectively, he stated, it is essential to establish systems that enable Nigerians to gain directly from their minerals. The Minister articulated that the government aims to facilitate local beneficiation of resources to transform the nation’s mineral wealth into industrial strength, create job opportunities, and bolster local businesses. This includes initiatives such as lithium processing facilities in Nasarawa State and plans for additional plants around the Federal Capital Territory. Alake reiterated the government’s commitment to ensuring mineral resources do not exit the nation in their raw form, thereby positioning Nigeria favorably within the global mineral value chain. The administration, under President Bola Tinubu, is also prioritizing the security of mineral assets, while addressing the challenges posed by illegal mining through multifaceted approaches. During the Mining Week event, stakeholders from across the globe are encouraged to collaborate, fostering innovation and paving the way for upcoming policies that cater to both existing issues and future potential within Nigeria’s mining sector. The event, themed “From the Inside Out: Building the Mining Sector to be the Cornerstone of the Economy,” seeks to underline the collective commitment to develop a sustainable and prosperous mining industry. Mr. Dele Ayanleke, President of the Miners Association of Nigeria, spoke on the significance of the Mining Week as a forum for evaluating industry growth and showcasing advancements in mining technologies. Habeeb Jaiyeola, a partner at PwC, highlighted the purpose of this week-long event as an opportunity to present the achievements of Nigeria’s mining sector to both domestic and international investors, particularly in light of the global shift towards cleaner energy solutions.
Nigeria boasts an array of mineral resources that can drive economic growth and industrialization. With 44 different types of minerals, including those critical for energy transitions, there is significant potential for the nation to improve its economic status through the mining sector. However, the challenge lies in moving beyond mere extraction to a system that adds value locally, enhancing job creation and growing businesses. The government aims to secure its resource wealth while fostering collaborative efforts among stakeholders to develop innovative strategies for the future.
In conclusion, Nigeria’s shift from an extraction-centric model in mining to one that emphasizes value addition and local processing is critical for maximizing the country’s mineral wealth. The government’s initiatives, including enhanced security measures and the establishment of processing plants, are steps toward a more industrialized economy. The Annual Nigeria Mining Week serves as a vital platform for stakeholders to unite in enhancing the mining industry and ensuring Nigeria competes effectively on a global scale.
Original Source: nannews.ng
