The Federal Government has reiterated it’s commitment to prioritize and promote value addition to mineral resources before exportation, as it will boost employment opportunities for the teeming youths and enhance foreign exchange earnings.
This declaration was made by President Bola Ahmed Tinubu, GCFR, during the opening ceremony of the 8th Edition of Nigeria Mining Week, which held at the International Conference Center in Abuja, the nation’s capital city. The theme of this year’s conference is “Capitalizing On Nigeria’s Critical Mineral Resources For it’s Growth”.
The President, ably represented by the Secretary to the Government of the Federation, Senator George Akume, stated that the Federal government under the present administration is resolutely committed to addressing the long years of neglect that the the mining industry has suffered; and has now initiated audacious reforms that include the policy of value addition to reform and reposition the sector for maximum gains.
To buttress this assertion, Mr. President said: “Having critically study the modus operandi of the Nigeria’s mining industry, the present administration has observed the huge losses recorded by the nation due to the export of crude mineral commodities, therefore has evolved the policy of value addition to it’s mineral resources before exportation.
The policy will ensure that the teeming youths in the country will also be immediately absorbed in the coming ventures that will empower them while sharpening their skills in the specialized areas of human endeavour, as well as serve as the source of generation of the much needed foreign exchange for the country”.
Elaborating further, President Bola Ahmed Tinubu GCFR, said ‘: Through this policy, the era of export of crude minerals from Nigeria is gone. Thus, it is gratifying to note that many companies in Nigeria have already adjusted their business plans to this new normal, and all others are encouraged to do so”.
In his address, the Minister of Solid Minerals Development, Dr Oladele Alake affirmed that the government has worked diligently to streamline regulatory processes, create an attractive investment climate, and instill confidence in domestic and international investors. These efforts, he noted, have borne fruit through strategic partnerships that recognize the immense potential within our borders.
The Minister said: “We have worked diligently to streamline regulatory processes, create an attractive investment climate, and instill confidence in domestic and international investors. These efforts have borne fruit through strategic partnerships that recognize the immense potential within our borders. These partnerships will be pivotal in building a sustainable and globally competitive mining industry”.
Continuing, Dr Alake said: “Our vision for the Mining Sector transcends mere resource extraction. We are firmly committed to conducting mining activities that are environmentally sustainable, socially responsible and economically beneficial. We believe mining operations should serve as catalysts for community development and job creation and adhere to Industry Best Practices that minimize ecological footprint”.
The Minister further added that Nigeria is endowed with valuable solid Minerals like Limestone, Gold, Baryte, Bitumen, Lead- Zinc, Coal and Iron ore to mention but a few, stressing “As we promote responsible and developmental extraction, we propagate value addition across the value chain as the essential principle of mineral development”.
In his welcome address, the President of the Miner’s Association of Nigeria, Mr Dele Ayanleke said: “this year’s edition is coming with a unique peculiarity as a result of some positive coincidences which include a new national administration under the leadership of President Bola Ahmed Tinubu GCFR, and newly appointed overseers of the various Ministries are drawing up agendas that will make them successfully fulfil their mandates under the umbrella of the Renewed hope”.
Furthermore it is pertinent to state that the opening ceremony of the Nigeria Mining Week witnessed the unveiling of the Nigeria Geophysical Survey Agency’s (an agency under the Ministry of Solid Minerals Development) Metalogenic Map by the President of the Federal Republic of Nigeria, ably represented by Senator George Akume, Secretary to the Government of the Federation.
Head, Press & Public Relations