“We want to be a well-known mining jurisdiction by 2030.” This was the closing remark by Hon. Minister Olamilekan Adegbite, Minister, Ministry of Mines and Steel Development in Nigeria gave as part of Nigeria Mining Week Online’s opening keynote address.
In a 90-minute session, moderated by PwC Nigeria’s Cyril Azobu, Partner, Head Consulting & Mining Leader, PwC Nigeria and attended byH.E. Yemi Osinbajo, Vice President, Nigeria, the honourable minister again outlined the extensive work that the ministry is doing to encourage growth and investment in the country’s mining sector.
The sector’s growth and performance is being monitored and tracked via the ministry’s Mining Roadmap – an initiative launched in 2016 to give clear policy direction and provide assistance in building the mining sector.
On the back of NIMEP (National Integrated Mineral Exploration Programme) to build exploration in the country, the ministry just weeks ago launched a digital platform for barite – one of its key mineral endowments. The platform is aimed at building the barite sector further, particularly with regards to international supply opportunities – now all accessible online.
This next step in Minister Adegbite’s mining agenda is to build a local processing/beneficiation sector to encourage in-country processing of raw materials and greater economic benefits as a result of developing downstream industries.
This has seen ministry initiate six pilot processing plant facilities across Nigeria, for lead, barite, gold and kaolin (a silicate mineral). “We are providing this initial and upfront investment to start our processing journey and to showcase the investment we are willing to make in getting this off the ground,” Minister Adegbite stated.
“We also believe it will create room for investors to fill in the gaps in taking the processing sector in Nigeria to the next level,” he continued.
In further support of promoting the beneficiation of its raw materials, the ministry has formed a collaboration with the World Bank to train local citizens in the manufacture of gold and gemstone jewellery.
This initiative has become a major area of focus across the African continent and showcases Nigeria’s determination to position itself on the map in terms of the mineralisation it has to offer, and the value additions government is introducing to build a stronger economic mining sector contribution.
To catch this session in full, visit the Mine.It Africa Connect platform and click the on-demand tab.