The Nigerian economy is being diversified and the mining sector in Nigeria is being reinvigorated to ensure that the sector contributes substantial revenues and job creation in Nigeria within a decade. At a breakfast hosted by BLP and Nigerian firm Ajumogobia & Okeke, Hon. Dr. Kayode Fayemi, Minister of Solid Minerals, Nigeria outlined his plans for developing the sector.
The Minister held up the Nigerian limestone industry as an example of what is possible as the industry transformation has taken Nigeria from a net importer of cement products to an exporter. The Minister set out his vision to see Nigeria do the same across a range of industrial minerals.
The Minister highlighted the importance of changing the perception of Nigeria as a mining destination to inspire confidence and attract investors. As part of this his ministry will be enforcing licence terms and publishing a list of licences which are not compliant or are at risk. His ministry are also working to resolve the tensions between land ownership, a state matter, and mining title, a federal issue.
One of the immediate priorities for his ministry is to provide access to data for investors, to encourage investment and this is most advanced for bitumen.
The minister left everyone with a firm understanding of his commitment and passion to develop Nigeria as Africa’s Next Mining power.