By Maryam Mohammed
The Minister of Solid Minerals Development, Dele Alake, has announced that Nigeria possesses 44 globally in-demand mineral resources in significant quantities. He also mentioned that the government has arrested over 300 illegal operators, with more than 133 currently facing prosecution. Alake attributed renewed investor interest in Nigeria’s mining sector to reforms by the Tinubu administration.
Speaking at the Nigeria Middle East Investors Expo and Awards on Friday, Alake highlighted that the Federal Government’s emphasis on solid minerals has drawn global attention to Nigeria’s mining sector, leading to increased investments and revenue. He reported that the government has identified over 40 million tonnes of talc in Niger, Osun, Kogi, Ogun, and Kaduna states, about 1 billion metric tonnes of iron ore in Kogi, Enugu, Niger states, and the Federal Capital Territory, and an estimated 10 metric tonnes of lead and zinc across eight states.
Alake stated, “We have over 44 globally sought critical minerals in Nigeria. A crucial factor for foreign investment is data. We are working to significantly increase funding for exploration to generate the necessary big data that will attract major international players and position Nigeria as a global mining destination.”
He also discussed the successes of the mining marshals in combating illegal mining activities, noting that over 300 illegal operators have been arrested, with more than 133 undergoing prosecution. “Since deploying the mining marshals as part of our comprehensive plan to sanitize the mining environment, they have been working assiduously and efficiently. Over 300 illegal operators have been apprehended, with more than 133 currently undergoing prosecution. We are making significant progress,” read a statement by the Special Assistant on Media to the Minister, Segun Tomori.
To improve the effectiveness of the mining marshals, Alake revealed plans to incorporate satellite monitoring of mining sites, enabling the government to monitor all mining activities from the Minister’s office and quickly address any illegal operations.
Additionally, Alake highlighted the recent launch of the Decision Support System, an online platform providing detailed information about Nigeria’s solid minerals sector, to assist prospective investors in making informed decisions. He emphasized the abundance of high-grade critical minerals in the country and invited investors to benefit from improved regulatory frameworks and incentives.
On Thursday, the minister announced a review of mining rates and dues to facilitate ease of doing business and support ongoing reforms. The new rates, affecting 268 industry items, aim to maximize royalties from critical minerals like lithium and gold, boosting national revenue and contributing to economic development.