• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Friday, June 6, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

Nigeria commits to boost mining development

Mining

The Matters Press by The Matters Press
October 18, 2023
Reading Time: 4 mins read
0
Private sector in Mining sector will accelerate development

Abuja, Oct 18, 2023: President Bola Tinubu has expressed the Federal Government’s commitment to develop the mining sector by creating an enabling environment for players in the industry to thrive.

RELATED POSTS

PDP incubated insecurity in Nigeria, but Tinubu on top of the situation – TDF

FCT ground rent!: Check your name if you own property

Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,

The president said this at the opening of the 8th edition of Nigeria Mining Week in Abuja.

Represented by the Secretary to the Government of the Federation, Senator George Akume, Tinubu expressed worry that the mining sector was neglected for a long time.

The mining week serves as a networking platform for stakeholders in the industry to showcase the huge potential in Nigeria’s mining industry.

The event with the theme “Capitalising on Nigeria’s Critical Mineral Resources for its Growth”, had more than 1, 500 participants.

According to Tunubu, the theme underscores Federal Government’s commitment to sustainable development and collaboration within the mining industry.

He said that the devolution of the Ministry of Mines and Steel Development demonstrated Federal Government’s resolve to improve its contributions to the development of Nigeria’s economy.

“Government shall continue to ensure good business environment for investors in the sector by ensuring policy consistency and adequate security.

“Nigeria is known for its oil and gas, which is a fraction of its blessed natural resources and there is a need for Nigeria and Africa at large to diversify and develop other sectors to harness their potential,” the president said.

The Minister of Solid Minerals Development, Dele Alake pledged that the ministry would develop the mining sector as a significant source of economic diversification.

“We charted a new direction with the articulation of the Seven-Point Transformation Agenda focusing on establishment of the national mining company and development of big, standardised and internationally certified data.

“Others are formalisation of artisanal mining through co-operatives and security of mines in collaboration with the security agencies.

He said that there was need to be more concerned about the mining communities to ensure sustenance of their lawful rights and commit licences to community empowerment and the strategic promotions of our country’s vast mineral deposits for indigenous and international investments.

Alake hailed stakeholders’ enthusiasm in the solid minerals sector in embracing the ideas and proposing many pathways to achieving the roadmap.

“This has led to several collaborations and initiatives across the landscape.

“The dedication to diversifying Nigeria’s economy through mining and align perfectly with our shared goals and I am confident that the culmination of this event will continue to lead us toward a prosperous future,’’ he said.

The minister said that Nigeria was set for a great leap of transformation by harnessing the solid mineral resources judiciously.

“If we manage these resources judiciously and responsibly, they can serve as the engine of our economic growth, offering employment opportunities and enhancing the well-being of our citizens.

“Nigeria is endowed with valuable solid minerals like Limestone, Gold, Baryte, Bitumen, lead zinc, Coal, and Iron Ore, and others.

“This natural wealth indicates a significant reservoir poised for exploration and development.

“These resources can potentially reduce our dependence on oil revenues, diversify our economic base, serve as the bedrock of sustainable development across various sectors and provide significant job creation opportunities,’’ the minister said.

He, however, said that the vision for the mining sector transcended mere resource extraction.

“We are firmly committed to conducting mining activities that are environmentally sustainable, socially responsible, and economically beneficial.

“We believe mining operations should serve as catalysts for community development and job creation and adhere to industry best practices that minimise ecological footprint.

“As we promote responsible and developmental extraction, we propagate value addition across the value chain as the essential principle of mineral development,’’ Alake said.

Similarly, the Minister of Steel Development, Prince Shuaibu Audu emphasised the need for Nigeria to unleash the immense potential in the solid mineral sector

“We are not merely celebrating the potential today, we are recognising them as the driving force behind the economic growth that is at the heart of President Bola Tinubu’s renewed hope agenda.

“In our country, we are endowed with an array of critical minerals such as coal, tin, lead, limestone, and iron ore, among many others.

“These resources, if properly harnessed, hold the key to not only diversifying our economy but also significantly increasing our revenue streams.

“They are the bedrock upon which we can build a more prosperous, self-sufficient, and industrially advanced Nigeria.

“Allow me to emphasise the pivotal role of the steel sector in this journey towards revitalising our economy.

“Steel, as we know, is the backbone of industrialisation. It is a core ingredient for infrastructure development, manufacturing and construction.

“Our commitment to developing the steel sector is unwavering because it holds the potential to create numerous jobs, attract investments, and contribute significantly to our Gross Domestic Product.

“It is on this heel that we have set out motions to diversify Nigeria’s economy and attract Foreign Direct Investment (FDIs) by transforming the Ajaokuta Steel Company Limited (ASCOL) complex into a Free Trade Zone.

“This includes the designation of 24,000-hectare land of Ajaokuta as an Industrial Park,’’ the minister said.

He said that the initiative aims at revitalising the steel industry, create jobs, and stimulate economic growth in the region thus creating an industrial park in the city.

“This is in addition to the development of a three-year plan for Ajaokuta and a broader five-year plan to expand steel production to other parts of the country.

“This comprehensive approach aims to harness Nigeria’s vast iron ore resources and leverage them for industrial growth,” Audu said.

The President of Miners Association of Nigeria, Dele Ayanleke said that articulate management of constitutional and legal challenges would provide workable template for streamlining legal and regulatory frameworks that would accelerate the growth of the sector.

The Event Director, VUKA Group, South Africa, Mr Samukelo Madlabane said the event would serve as a stimulus for sustainable development, investment and cooperation within the mining industry.

“This is with an emphasis on maximising Nigeria’s mining potential, especially for its critical minerals,’’ Madlabane said.

Tags: Mining
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Energy

PDP incubated insecurity in Nigeria, but Tinubu on top of the situation – TDF

June 4, 2025
Property owners besiege FCT office to pay ground rent
Economy/Technology

FCT ground rent!: Check your name if you own property

June 3, 2025
News

Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,

June 3, 2025
Economic implications of Niger coup to Nigeria, ECOWAS
Economy/Technology

IMPI urges media to consider national interest in reporting security challenges

June 3, 2025
Tinubu steering Nigeria away from Venezuela-like tragedy – IMPI
News

Malami’s opposition to Tinubu’s endorsement self-indicting – TDF

June 3, 2025
President Tinubu outlines new economic, monetary, foreign policies
Economy/Technology

CUPP goofs over President Tinubu’s 2027 endorsement by governors

June 2, 2025
Next Post
Embrace entrepreneurship in place of white-collar jobs- Minister

Experts task young directors on sustainability reporting

NERC declares meters free under mass scheme

178, 864 meters installed in Q2 2023 – NERC

Recommended Stories

Trading in Nigerian stock market dips further N83bn

Equity market rebounds with 0.14% growth

March 7, 2023
Boko Haram disputes Prophet Muhammed’s birthday

Is Shekau, deadly Boko Haram’s leader dead?

May 21, 2021
“Naira-4-Dollar” getting results

Naira gains against dollar at Investors and Exporters window

May 11, 2022

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • PDP incubated insecurity in Nigeria, but Tinubu on top of the situation – TDF
  • FCT ground rent!: Check your name if you own property
  • Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us