The statement further urged Nigerians and Mining stakeholders to capitalize on the solid minerals incentives offered by the administration of President Bola Ahmed Tinubu in order to create and enhance their enterprises, thereby contributing to the growth and development of the Mining Industry in Nigeria.
The minister made this announcement in Abuja during a pre-event press briefing for the next mining week scheduled to take place from October 16th to 18th, 2023. The event, themed "Unlocking Nigeria's Mining Potential," is regarded as a noteworthy occasion to highlight the vast opportunities present in Nigeria's mining industry.
According to Alake, Nigeria possesses expansive natural riches within its soil that hold significant potential for fostering growth and prosperity. The potential in question encompasses not alone our nation, but also the broader African Continent.
The primary objective of the mining week events is to cultivate an atmosphere conducive to the exchange of ideas among industry experts, stakeholders, and government officials, with the intention of enhancing the understanding and implementation of industry best practices.
The implementation of this initiative is expected to facilitate the development of new ideas and improve the overall level of competitiveness within the mining industry in Nigeria. This aligns with our objective of fully utilizing Nigeria's mining resources while adhering to environmental, social, and governance principles.
The promotion of investments in Nigeria's mining sector emphasizes the inherent opportunities for investment. These opportunities are characterized by a stable and favorable investment climate, which has been established through the presidential business enabling environment initiative. Additionally, the federal government offers highly attractive incentives to further encourage investment in this sector.
Hence, we extend an invitation to both domestic and foreign investors to delve into the extensive opportunities present in Nigeria's mining industry, with the aim of fostering expansion and financial gain, thereby facilitating the achievement of the collective objective of equitable resource utilization.
The mining sector is guided by a central focus on sustainability within our strategy. In this discourse, we shall emphasize the significance of adopting responsible mining techniques that demonstrate due regard for the environment, host communities, and cultural heritage. This element holds great relevance in harnessing the mining potential of Nigeria.
According to Dele Ayanleke, the President of the Miners Association of Nigeria, the implementation of various technical workshops holds the potential to offer young individuals a promising opportunity to pursue lawful means of livelihood. This initiative aims to rescue them from engaging in the "Japa Syndrome," as well as deter them from participating in cybercrime and banditry, which are detrimental to our nation's well-being and contribute to brain drain and social disruption.
Ayanleke asserts that the current period is marked by a notable surge in attention towards the advancement of the solid minerals sector in our country, surpassing previous levels of interest observed since the discovery of crude oil.
One of the notable factors is the recent emergence of Nigeria as an attractive prospect on the global stage. This is primarily due to the country's abundant and high-quality reserves of critical minerals, which are crucial for the ongoing global shift towards alternative energy sources. Additionally, this newfound appeal is further accentuated by the diminishing global significance of oil as both an energy source and a revenue generator.
In addition, Dr. Mary Ogbe, the Permanent Secretary of the Ministry of Solid Minerals, emphasized that the 8th edition of the Nigeria Mining Week presents significant potential as a crucial forum for industry executives, stakeholders, and enthusiasts to gather and engage in the exchange of ideas.
Ogbe asserted that Nigeria's copious natural resources present a distinctive prospect for promoting sustainable growth and development. This occasion serves as a testament to our commitment to utilize these resources in an efficient and conscientious manner.
During this event, attendees will have the opportunity to engage in intellectually stimulating discussions and dialogues facilitated by a diverse group of individuals including experts, policymakers, investors, entrepreneurs, academics, and community leaders.
The discussions will encompass a diverse range of subjects, such as legal frameworks, technology advancements, social responsibility, and environmental preservation. By engaging in inclusive and collaborative endeavors, we can effectively establish a trajectory for a thriving and accountable mining sector in Nigeria.
