FG unveils transformative mining policies to drive local content

In a groundbreaking address at the opening of the 2024 Nigerian Mining Week holding at the Permanent Secretary of the Ministry of Solid Minerals Development, Dr Mary Ogbe has unveiled a landmark policy requiring all mining lease applicants to submit a detailed value addition plan.

This bold move prioritises in-country mineral processing to catalyse industrial growth, create jobs, and reduce dependence on raw mineral exports, reinforcing Nigeria’s position as a sustainable mining powerhouse.

This forward-thinking measure is designed to boost industrialization, create sustainable jobs, and ensure Nigeria’s mineral wealth directly benefits its people.

“We are building a mining sector that prioritizes in-country value addition, not just to stimulate economic growth but to position Nigeria as a model for sustainable mining on the global stage,” Dr. Ogbe emphasised.

She highlighted that this policy is a cornerstone of the Federal Government’s ambitious 7-point Agenda for the mining sector, championed under the leadership of President Bola Ahmed Tinubu and the Minister of Solid Minerals Development, Dr Dele Alake. This agenda aims to create a mining industry defined by innovation, operational integrity, and inclusivity while enhancing transparency and competitiveness.

In addition to the value addition policy, Dr. Ogbe outlined several other transformative reforms:

The Energy Transition Minerals Development Policy, which capitalizes on Nigeria’s wealth of critical minerals like lithium, cobalt, and nickel to meet global demand for renewable energy resources;

A comprehensive review of the Nigerian Minerals and Mining Act (2007) to align the country’s legal framework with global standards;

The strengthening of Community Development Agreements (CDA) to ensure host communities directly benefit from mining activities and play an active role in resource governance.

Dr. Ogbe also underscored the government’s commitment to human capital development through capacity-building programs and partnerships aimed at empowering Nigerians with the skills needed to thrive in the mining sector.

“We are redefining the role of mining in Nigeria’s economic landscape. Every step we take is a step toward sustainability, inclusivity, and resilience, ensuring our communities and local industries thrive alongside the mining sector,” she remarked.

Speaking alongside the Permanent Secretary at the event, the Director of Investment Promotion and Mineral Trade Department, Ministry of Solid Minerals Development, Dr Esther Udo, emphasized the importance of partnerships in unlocking the full potential of the country’s over 44 commercially viable mineral resources.

The Ministry’s six-pillar strategy focuses on strengthening stakeholder dialogue, providing cutting-edge geological data, fostering strategic partnerships, enhancing digital transparency, and ensuring security and sustainability. These measures are designed to empower title holders, attract credible investors, and foster equitable benefits for host communities.

“By working hand in hand with title holders, we are laying the foundation for a mining ecosystem that is efficient, sustainable, and inclusive, creating value for all stakeholders,” Dr. Udo stated.

According to her, these initiatives are part of the Federal Government’s efforts, under the leadership of the Minister, Dr Dele Alake, to transform the mining industry into a cornerstone of Nigeria’s economic growth.

The opening day of the 2024 Nigerian Mining Week featured a series of impactful sessions designed to address critical areas of the mining sector’s growth and sustainability:

Session 1: Discussions centered on strategies to boost mineral exploration in Nigeria, including securing both domestic and international investments and exploring pathways for financing exploration and mining companies.

Session 2: A dynamic business networking event provided participants with opportunities to forge meaningful partnerships and expand their industry connections.

Session 3: A workshop on Environmental, Social, and Governance (ESG) reforms highlighted the importance of compliance and responsible mining practices.

Session 4: Panel discussions focused on accelerating mining investments by enhancing infrastructure to support exploration and operations.

Session 5: A roundtable discussion delved into transforming Nigeria’s development minerals sector, emphasizing its untapped potential for economic growth.

These sessions set the stage for collaborative dialogue and actionable solutions, underscoring the event’s commitment to building a thriving and sustainable mining industry in Nigeria.

READ MORE FROM: NIGERIAN TRIBUNE