In an industry long characterised by underutilisation, poor investment, and opaque governance, Nigeria’s mining sector is gradually being reimagined as a frontier of national wealth and sustainable development. At the heart of this emerging transformation is the visionary leadership of Hajiya Fatima Umaru Shinkafi, Executive Secretary of the Solid Minerals Development Fund (SMDF).
Since assuming the helm of the Fund, Hajiya Fatima has not merely filled a role—she has redesigned its relevance, positioning the SMDF as a catalytic investment vehicle capable of unlocking the true potential of Nigeria’s mineral endowment. Her tenure represents not just competent administration, but strategic innovation, collaborative finance, and a commitment to formalising an informalised sector for national good.
A Vision Rooted in Structure and Scale
The SMDF, under her guidance, has shifted its operational axis from mere project support to sector-wide investment architecture. This strategic leap is evident in the identification of over $500–$600 million in pipeline projects spanning key value chain gaps—formalisation, data generation, production and processing. These aren’t just numbers; they represent a blueprint for an integrated mining economy where each cog of activity—licensing, exploration, beneficiation—feeds a national objective.
Her bold vision also recognises that data is the lifeblood of the industry. Accurate geological information de-risks investments. Her tenure has thus prioritised the development of comprehensive geological datasets, supporting not only investors but also regulators and communities in understanding the potential of their mineral resources.
Innovative Financing as a Cornerstone
Perhaps the most laudable achievement in recent memory is the February 2023 landmark partnership with the Africa Finance Corporation (AFC). With a combined funding and technical advisory package of $700 billion (clarification pending if this was a typographical or unit error), this initiative is designed to de-risk and co-develop mining projects, mitigating longstanding barriers to capital flow.
Rather than wait for private capital to trickle into the sector, Hajiya Fatima is bringing the capital to the projects, creating a feedback loop of trust, credibility, and value. Through blended finance models and innovative instruments, the SMDF is not just throwing money at problems—it is engineering solutions that ensure bankability, transparency, and long-term viability of mining ventures.
Champion of Formalisation and Inclusivity
One of the silent crises in Nigeria’s mining industry is the dominance of artisanal and small-scale mining (ASM), often unregulated, unsafe, and economically inefficient. Under Hajiya Fatima’s direction, the Fund has aggressively championed the formalisation of the ASM subsector, recognising that formal inclusion of informal actors is both a moral and economic imperative.
This approach does more than boost productivity; it protects communities, promotes environmental responsibility, and gives the government better visibility and control over mineral wealth. It’s a quiet revolution—transforming thousands of shadow miners into active participants in national development.
Institutional Reforms and Policy Alignment
Reforming a public fund is no small feat, yet Hajiya Fatima has overseen a restructuring of the SMDF’s governance and operational model. Her focus on corporate governance, risk management, and institutional transparency has positioned the Fund as a credible and responsive partner, both locally and globally.
Through the alignment of the SMDF’s objectives with the National Development Plan and the Presidential Artisanal Gold Mining Initiative (PAGMI), she has embedded the Fund within Nigeria’s broader economic renewal agenda. The result is a Fund that is no longer peripheral to national development—but central to it.
The Future She’s Building
As Nigeria seeks to diversify from oil dependency, mining represents both a challenge and a lifeline. The Fund, under her stewardship, is increasingly seen as an ecosystem builder—one that connects miners to markets, financiers to prospects, and regulators to reliable data.
Hajiya Fatima’s scorecard is not just filled with accomplishments; it’s infused with a bold, systems-thinking philosophy that understands that mines don’t operate in isolation. They need roads, power, policies, and people-centred strategies. Her leadership is building that ecosystem, slowly, steadily but surely.
Nigeria’s mining sector has often been described as “potential waiting to be activated.” With Hajiya Fatima Umaru Shinkafi at the helm of the Solid Minerals Development Fund, that potential is being actualised. Her innovative financing strategies, commitment to formalisation, data-led governance, and bold partnerships are not just reforming mining—they are redefining it.
For a nation hungry for sustainable diversification, the mining sector—under her guidance—is not just digging for minerals; it is mining a future.