The Minister of Solid Minerals Development, Dele Alake, announced that the country possesses 44 globally sought-after mineral resources in abundance, News About Nigeria reports.
This revelation, along with the government’s recent crackdown on illegal mining, highlights the increasing focus on solid minerals as a key economic driver.
Speaking at the Nigeria Middle East Investors Expo and Awards on Friday, Alake emphasised the impact of the Tinubu administration’s reforms, which have reignited investor interest in Nigeria’s mining industry.
He attributed the surge in investments and revenue to the government’s strategic focus on solid minerals.
Alake said that the government has identified substantial deposits of various minerals across multiple states.
These include over 40 million metric tonnes of talc in Niger, Osun, Kogi, Ogun, and Kaduna states, approximately 1 billion metric tonnes of iron ore in Kogi, Enugu, Niger states, and the Federal Capital Territory, as well as an estimated 10 metric tonnes of lead and zinc spread over eight states.
“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,” Alake stated.
Speaking on the successes of his 7-point agenda, the Minister reported that over 300 illegal mining operators have been apprehended, with more than 133 currently undergoing prosecution.
“Since deploying the mining marshals as part of our comprehensive plan to sanitise 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,” Alake said in a statement released by his Special Assistant on Media, Segun Tomori.
Alake revealed plans to incorporate satellite monitoring of mining sites.
This technology will allow for real-time surveillance from the Minister’s office, enabling prompt detection and response to illicit activities.
In addition to these measures, the Minister added that they recently launched of the Decision Support System, an online platform designed to provide comprehensive information about Nigeria’s solid minerals sector.
Alake also announced a review of mining rates and dues to enhance the ease of doing business and support ongoing reforms.
The new rates, affecting 268 items in the industry, aim to maximise royalties from critical minerals such as lithium and gold, thereby boosting national revenue and contributing to economic development.
