Nigeria launches Mineral Resources Information Portal
The government of Nigeria has unveiled the Nigeria Mineral Resources Decision Support System (NMDSS), an information portal designed to provide comprehensive details about the country’s mineral resources, facilities, and infrastructure.
This initiative aims to attract investors by making it easier to access essential data remotely. Dele Alake, Nigeria’s mining minister, highlighted that with the NMDSS, investors can now access this information globally, facilitating informed investment decisions.
“Before if you are a prospective foreign investor, you have to travel to Nigeria to access required information, but with this launch, anywhere you are in the world, with a click of a button, you can access all the information you require to make informed investment decisions,” said Dele Alake.
Nigeria’s mining industry
Mining in Nigeria is a significant economic activity, contributing to the country’s GDP and providing employment opportunities. The country, possesses significant deposits of gold, limestone, and zinc. The sector is regulated by the Ministry of Mines and Steel Development, which oversees the exploration, exploitation, and exportation of mineral resources.
The government aims to diversify the economy by enhancing the mining sector’s contribution, which currently accounts for less than 1% of the country’s GDP. Recent reforms include offering investors a 75% stake in a new national mining company, reducing exports of unprocessed minerals, and enforcing measures against illegal mining. To combat illegal mining, mining marshals have been deployed, and about 152 cooperatives have been formed to legalize artisanal mining operations.
