By Martha Agas
The Minister of Solid Minerals Development, Dr Dele Alake, says a world-class polymetallic mineral province has been discovered in Kaduna State, making it the new hub for high grade minerals.
Alake disclosed this in Abuja on Wednesday, at the opening of the fifth Africa Natural Resources and Energy Summit (AFNIS), themed “One Africa, One Resource Vision”.
He said that the Nigerian Geological Survey Agency (NGSA) had verified the mineral province, which contains significant deposits of platinum, gold, nickel, copper, lithium and rare earth elements with exceptionally high grades.
He said that the discovery had boosted Nigeria’s competitiveness in the global minerals market, creating new prospects for investors in critical minerals essential for technological advancement and the energy transition.
The minister said Nigeria remained open for serious business and partnerships that would support the realisation of its economic diversification agenda.
“We welcome capital that builds. We welcome partners who understand that Africa is no longer asking to be treated merely as a source of raw materials.
“We welcome investors who are ready to process locally, employ locally, train locally, transfer technology, respect communities, operate transparently and build long-term value with us.
“We also recognise that mining and mineral processing require patient capital. These are capital-intensive sectors with long gestation periods and significant infrastructure needs.
“That is why innovative financing will be central to the next phase of Africa’s resource development,” he said.
He, however, noted that blended finance, risk guarantees, development finance, commercial capital, sovereign support and private-sector discipline must work together for Nigeria to unlock the next generation of mineral and energy projects.
Alake said transforming the economy would depend on combining geological potential with credible regulation, reliable data, infrastructure, finance, technology, local skills and investor confidence.
He said President Bola Tinubu’s administration was repositioning the solid minerals sector as a pillar of economic diversification and industrial transformation.
“Our task is to move the sector away from informality, opacity and low-value extraction to structured, transparent, secured, value addition and industrial competitiveness.
“The objective is to mine better, regulate better, earn more public value, attract more credible investment and retain more value within Nigeria, through processing, jobs, technology and manufacturing,” he said.
He said reforms in the sector focused on restoring discipline in licensing, strengthening compliance, improving transparency and ensuring that mineral assets were held by capable operators.
The minister said that 3,000 mineral titles had been revoked as part of efforts to sanitise the sector and reposition it to contribute more significantly to Nigeria’s economy.
“We want mining investments that lead to processing plants, refineries, industrial clusters, local jobs, technology transfer and stronger linkages with the wider economy,” he said.
Alake said the theme of the summit reflected the reality that Africa’s resource future could not be secured through fragmented action, stressing that the continent’s minerals, energy systems, infrastructure corridors and markets must increasingly work together.
In his remarks, President Bola Tinubu said that the world’s true industrial future depends on Africa because of the critical minerals it possesses, particularly those needed for the energy transition.
The President, in a speech delivered by Alake, noted Africa’s determination to move away from fragmented markets and isolated producers, emphasising the need for a united African voice to drive development.
Tinubu stressed that Africa must commit to harmonising regulations, reducing barriers to intra-African trade, building cross-border infrastructure, supporting local enterprise and protecting legitimate investors.
He added that the continent must also insist on transparency, accountability and long-term national benefit. (NAN)
Edited by Philip Yatai