Nigeria launches new geological map for mining
The government of Nigeria has unveiled a geological map to showcase mineral deposits across the country. The launch was made by Nigeria’s President, represented by the Secretary to the Government of the Federation, along with several key ministers including the Minister of Solid Minerals Development, the Minister of Steel Development, and the Minister of Industry, Trade, and Investment.
Senator Akume, representing the President, emphasized Nigeria’s dedication to supporting investors in the mining sector and maximizing its potential. He highlighted the gains made through various industrial reforms over the last 17 years.
The government has recognized the importance of adding value to mineral resources before exportation, aiming to generate foreign exchange and provide opportunities for the country’s youth. This marks a shift away from simply exporting raw mineral deposits.
Diversification
Ministers stressed that investing in Nigeria’s mineral resources has the potential to reduce dependence on oil revenues, diversify the economy, and create significant job opportunities, particularly for the country’s youth. The government envisions environmentally sustainable and socially responsible mining activities. They aim to use mining operations as catalysts for community development and job creation while adhering to best practices that minimize environmental impact.
The Minister of Steel Development highlighted the importance of steel in industrialization and infrastructure development. Nigeria possesses critical minerals like coal, tin, lead, limestone, and iron ore, which, when harnessed properly, can boost the economy.
The government plans to revitalize the Ajaokuta Steel Company Limited complex, create a Free Trade Zone, and designate a vast land area as an Industrial Park. This initiative is intended to stimulate economic growth and industrial development. The President of the Miners Association of Nigeria expressed optimism about the sector’s growth and commended the government’s efforts to develop the mineral sector for economic development.
