The Minister of Solid Minerals Development, Dele Alake, has said that Nigeria is set to leverage its natural resources to drive Economic Growth during a press conference for the upcoming 9th Nigeria Mining Week, which will occur from November 18 to 20, 2024, in Abuja. While Alake had the Permanent Secretary of the Ministry, Mary Ogbe, representing him, he was convinced that the country’s Mineral resources would drive the national economic progress. The event is a three-day programme that will unite prominent figures from the global mining sector, including investors, specialists, and domestic and foreign government representatives.
Alake emphasised that this conference aims to promote essential discussions regarding the industry’s future, concentrating on important topics like Investment opportunities, skill development, technological advancements, and sustainable practices. Discussions about Community Development Agreements (CDAs) are significant. Such agreements ensure that mining efforts’ profits are shared with the government and the local communities impacted by mining activities. They are crucial in reconciling mining’s economic advantages with its social and environmental impacts. Also, the event is expected to draw more than 2,100 participants and feature more than 49 sponsors and exhibitors.
This year’s theme will reflect a shared goal of using mineral resources.
Along with professionals from various sectors, over 10 ministers from seven African nations will be present, joined by delegates from 23 countries around the globe, including key economic powers such as the United States, the United Kingdom, the United Arab Emirates, South Africa, and India. Prominent figures will participate in 47 sessions of conferences and workshops examining new trends and solutions for the country’s mining industry. The occasion will allow key industry players to demonstrate their dedication to promoting a welcoming atmosphere for investors.
Through increased transparency, better data accessibility, and more robust regulatory frameworks, the nation seeks to establish itself as a leading destination for mining investments. Alake emphasised the advancements achieved by the current government, noting that the country’s natural wealth presents development opportunities. The administration’s efforts to reform regulatory structures aim to realise these resources while aligning them with Sustainability objectives. The theme for this year’s event will be revealed soon. It is anticipated to embody a collective aspiration to utilise mineral resources for the nation’s sustainable economic development.
Govt seeks alternative income streams to reduce dependence on oil.
Furthermore, the Renewed Hope Agenda is central to the government’s strategy, emphasising the importance of value addition job creation and positioning the nation as a global commodity market player. The focus is not merely on extracting raw minerals but on developing industries that can process these resources domestically. Minerals like gold, lithium, copper, and rare earth metals are significant, offering domestic industrialisation and foreign investment opportunities. The expansion of the mining industry is essential for broadening the national economy, which has long depended on oil and gas production.
Likewise, the government’s revitalised emphasis on mining demonstrates a wider dedication to enhancing the country’s economic framework. By leveraging its natural resources, the country aims to generate alternative income sources, reduce its reliance on oil, and establish itself as a central location for mineral activities throughout Africa and beyond. The involvement of international Investors and companies is a key factor in achieving this goal. By bringing in foreign capital and expertise, the region hopes to accelerate the development of its mining Infrastructure and enhance knowledge transfer to local professionals. Additionally, the government aims to create an attractive environment for investors conducive to long-term growth and sustainability.
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Dele Ayanleke, the National President of the Miners Association of Nigeria, attended the press conference, represented by Ibrahim Birma, a member of the Board of Trustees. He emphasised how crucial the yearly event is for influencing the future of the country’s mining industry. As stated by Ayanleke, the event has transformed into an important venue for producing insightful concepts that enhance sector reforms and policies, leveraging successful strategies from various mining regions. However, with the country preparing for the upcoming event, various parties are hopeful that the conversations and partnerships formed throughout the week will set the stage for a new phase of economic progress driven by the careful and sustainable use of mineral assets.