The Nigerian government has announced plans to establish a new mining corporation to boost the solid minerals sector. Minister of Solid Minerals Development, Dr. Dele Alake, made this known at a recent summit in Abuja.
The corporation will be a private sector-led company with a clear mandate to engage in mining activities across the entire value chain. The government aims to make Nigeria a key player in the global mining industry and create a trillion-dollar economy.
The new corporation is expected to create stability in the sector and spur private sector activity. The government has also established mining cooperatives to curb illegal mining and deployed mining marshals to enforce mining laws and combat illegal activities.
Governor of Nasarawa State, Engr. Abdullahi Sule, announced that the largest lithium processing company in Nigeria will soon be commissioned. The company will process 4,000 metric tonnes of lithium per day and transport over a million tonnes per year.
The Director General of the National Institute of Policy and Strategic Studies, Prof. Ayo Omotayo, emphasised the importance of the mining sector in achieving the government’s ‘Renewed Hope’ agenda. He noted that the sector has the potential to contribute significantly to the country’s economy.
The government has also recognised the need for political will to change the narrative in the minerals sector. Prof. Akinade Olatunji, who delivered the keynote address, pointed out that the sector should move from potential to actual benefits for the growth of the nation.
Overall, the Nigerian government is taking steps to revitalize the solid minerals sector and make it a key contributor to the country’s economy. With the establishment of the new mining corporation and the commissioning of the lithium processing company, the sector is poised for growth and development.
The current Nigerian Mining Corporation is a Federal Government Public Statutory Corporation established by Decree number 39, as contained in Gazette No 54, Vol. 59 of 1972,. The Corporation as provided by the Decree was to play a dominant role and to act as a catalyst in the development of the mining industry in Nigeria.
