FG Investing In Technology To Reposition Mining Sector-Official

Muhyideen Jimoh
Nov, Tue, 2024

Economy/Business

FG investing in technology to reposition mining sector—Official

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By Martha Agas

Dr Mary Ogbe, Permanent Secretary, Ministry of Solid Minerals Development (MSMD), says the Federal Government is investing in technological advancement and capacity building to reposition Nigeria’s mining sector.

Ogbe stated this during a paper presentation at the ninth Nigeria Mining Week Pre-conference workshop on Monday in Abuja.

The paper is titled: “Overview of the Nigerian Mining Sector Legal and Regulatory Framework and Policies for Nurturing Local Content in Mineral Exploration and Mining in Nigeria.”

Ogbe said modern technology was critical to repositioning the mining sector, particularly in generating big data to attract major players to invest in the sector.

“We are investing in capacity building, technological advancements, and research initiatives to empower Nigerians with the skills and knowledge needed to drive innovation in mining.

“This focus on human capital development not only enhances productivity, but positions Nigeria as a hub of mining expertise and operational excellence.

“Nigeria’s mining sector is advancing on a foundation of progressive policies, strategic regulations, and a commitment to inclusive growth,” she said.

According to her, the ministry is building a mining industry aimed at contributing significantly to national development, while upholding the principles of transparency, sustainability and local empowerment.

She urged all stakeholders to collaborate with the government in unlocking the full potential of the sector.

In her presentation, Dr Esther Udo, the Director of Investments Promotion and Mineral Trade, MSMD, said that the ministry was prioritising value addition, robust mines surveillance and strategic data generation among other reforms.

Her paper is titled: “The Ministry of Solid Minerals Development’s Strategies for Collaborating with Mineral Titled Holders to Promote their Mineral Assets”.

Udo said that one of the key priorities of the ministry had been to empower mineral title holders as critical stakeholders in the industry.

“We recognise that title holders are not just custodians of mineral resources, but key partners in our journey to attract serious investors, foster sustainable practices, and ensure the optimal utilisation of Nigeria’s mineral wealth,” she said.

According to the Director, the ministry is collaborating with minerals title holders to promote their assets, and drive partnership that attracts credible investors.

She listed their strategies for collaboration to include, creating platforms for stakeholders dialogue and feedback, and driving policy reforms for clarity and investment attraction.

She added that other priorities include empowering title holders with advanced geological data, facilitating partnerships and buyout opportunities, enhancing digital transformation, and ensuring security and responsible mining practices.

On her part, Mrs Aisha Rimi, the Executive Secretary of the Nigeria Investment Promotion Commission (NIPC), said that measures have been put in place to attract investors to the solid minerals sector.

Her paper, titled: “Boosting Mineral Exploration in Nigeria: Strategies to Attract and Secure Domestic and International Investment,” was presented by the Deputy Director of the Investment Promotion Department, Emmanuel Longza.

Mrs Rimi said that incentives such as tax holidays, exemption of import duties, enhanced security and improved geological knowledge were all part of strategies put in place to attract investors to the sector.

The News Agency of Nigeria (NAN) reports that the theme for the mining week is, “From the Inside Out: Building the Mining Sector to be the Cornerstone of thr Economy.”

The week is organised by Miners Association of Nigeria(MAN) and hosted by the Ministry of Solid Minerals Development.(NAN)(www.nannews.ng)

Edited by Isaac Ukpoju

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