The Mineral Sector Support for Economic Diversification Project (MinDiver) in the Ministry of Mines and Steel Development, is known to be World Bank-assisted, has just urged Nigeria to device a roadmap to enhance the development and diversification of its industrial minerals. It was noted that the administration was working to structure a blueprint on the need for developing the mining industry, identifying strategic measures needed to guide the swift development of prioritized industrial minerals. With the country immensely rich in mineral resources, reports from MinDiver noted that the oil and gas entrepreneurs were responsible for about 18.9 percent of the total oil production, further indicating that the steel industry was also being revitalized.
According to the MinDiver’s report, this activity was indicated as an important component of the project conceived for facilitating an implemented programme to improve the upstream development of industrial minerals along with the additional value at the downstream level. Further reports indicated that the adopted strategy of the Ministry of Mines and Steel Development aligned perfectly with Africa’s mining policy which was created by the union in 2009 to ensure the utilization of Africa’s resources for broad based, inclusive development. This scheme was seen as Africa’s response against curbing the paradox of rich mineral resources and pervasive poverty.
Nigeria’s building and construction industry witnessed significant growth.
MinDiver’s project coordinator, Dr. Sallim Salaam explained that the Nigeria’s building and construction industry had witnessed immense growth over the last two decades, noting that it was one of the highest expansion sectors in the country’s economy. He noted that the drive to diversify the economy by leveraging on the potentials of natural resources was a priority programme established in President Buhari’s economic reform. He explained that the African Union’s success was predicted on the proper facilitation of the endowed resources.
He explained that the indigenous production of industrial materials had also grown from about 43,725,070 tonnes in 2016 to 78, 454,628 tonnes in 2021. Regardless of the evident progress, however, Nigeria has still been recorded to have imported about 80 percent of its industrial minerals for indigenous industries. Dr. Sallim thus revealed that the federal government was working to develop the available industrial minerals in the country, in a bid to ensure industrial growth and substitute importation. He stated that one important goal of this roadmap was to establish and implement a strategy for promoting domestic supply of mineral resources for local industries. Minerals such as limestone, laterite, sand, clay, marble and granite were listed among the most relevant minerals used in the country.
UN’s population growth estimate in Nigeria to surge to 450m by 2050.
Arc. Olamilekan Adegbite, the Minister for Mines and Steel Development also noted that the establishment of the new industrial roadmap would be useful in optimizing Nigeria’s industrial minerals to get to the standards of the manufacturing, industrial and construction industry, whilst also reducing the country’s dependence on importation. He noted that this development would not only favour local miners but also enhance the economic diversification agenda by the creation of jobs and wealth along the industry’s mineral value chain. This, he indicated, was in line with the goal of President Buhari to inculcate a more established and inclusive sustainable economy.
With the United Nations’ population estimate in Nigeria surging to about 450 million by 2050, the need for more housing, roads and jobs have also heightened. The cement industry in Nigeria has been viewed as overly sophisticated and due to this, it has become easier for factories to distribute this product across Africa. It was also indicated that the inculcation of skill development and poverty alleviation were benefits of implementing this roadmap which encompasses economic, environmental and social dimensions, in line with the sustainable development goals of the United Nations 2030 Agenda.
3 paths guiding the implementation of mineral resource roadmap revealed.
Data from the MinDiver project media department showed that there are three specific paths guiding the implementation of this roadmap for developing mineral resources, so as to achieve the objective of the federal government for the mining industry. These included the promotion of construction mineral provisions which are needed to meet the growing demand of the country’s construction industry, the promotion of industrial materials for the industrial sector and the maximization of renowned deposits of industry minerals by establishing conditions that will help them compete globally.
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Roadmap for mineral diversification needed. – Project is to enhance development and diversification of industrial minerals. – Express your point of view.
The diversification of industrial minerals of the country is well overdue because if this is so it will really open up lots of things and it will be a huge advantage to both the citizens and the economy.
The mineral sector should actually diversify it’s natural mineral resources. It will help us to maximize their productivity more. We will be able to provide better finished products.
The roadmap should be reviewed, updated, and refined regularly to accommodate the changes in the sector and ensure efficiency. This will enable the realization of a diversified mineral economy that will provide substantial socio-economic benefits to local communities and entire nations.
This is a nice step diversification of industrial resources it will increase productivity and will help the country more in better way
Roadmap for mineral diversification needed. It will nice if our government can diversify Mineral resources. But our government can do it not just saying it. We need action
There has been a long-overdue push to broaden the country’s selection of industrial minerals, which would benefit the populace and economy immensely if it were to happen.
It’s wonderful that the government was making plans to enhance the mining business so that we can obtain access to resources that will help everyone.
It would be wonderful if the government could devise a plan to increase the abundance of resources derived from minerals available to domestic industry and put that plan into action.
The huge number of minerals we have in Nigeria is the reason why people say Nigeria is blessed, it’s just sad that we don’t make Good use of them
Our government ought to be aware of the fact that the development of a new industrial road map would be beneficial in the process of optimising Nigeria’s minerals for industrial use so that they can meet the requirements of the manufacturing industry.
We all know that we need to diversify the economy which also echoed by the Federal Government. We have our natural resources and yet we import virtually 80% of them because our government makes promises they can’t execute. Please, the roadmap for the mineral diversification should be worked on since Ministry of Mines and Steel Development, is known to be World Bank-assisted, This will reduce dependency on crude oil only and more revenue will be generated other sources which will in the long run clear our debt.
It is not a new thing that we need diversification of our economy seeing that only crude oil alone can’t take us our from these debts traps the country is already in. Knowing fully well that Mineral Sector Support for Economic Diversification Project (MinDiver) in the Ministry of Mines and Steel Development, is known to be World Bank-assisted. Nigeria can leverage on this, construct the roadmap for mineral diversification needed required from us and achieve our aims. It will help in increasing our revenue and invariably help to pay off our debts as a nation.