A Review of the Nigerian Energy Industry

Nigerian govt plans Mining Commission to regulate sector

Dr. Fayemi.

Princewill Demian, with agency reports

14 February 2018, Sweetcrude, Abuja – The Nigerian government has disclosed plans to establish the Nigerian Mining Commission to take charge of the regulatory role of the Ministry of Mines and Steel Development.

The Minister of Mines and Steel Development, Dr. Kayode Fayemi, disclosed this at the Nigeria Day event at the African Mining Indaba in Cape Town, South Africa, saying the bill to set up the commission was already with the National Assembly.

Fayemi spoke as Nigeria took the centre stage at the African Mining Indaba, with the formal presentation of its new Airborne Electromagnetic Survey Results amid endorsements for the country’s mining sector reforms by mining experts, operators and developmental agencies.

The presentation of the new Airborne Electromagnetic Survey Results, a major high point of the week-long mining conference, was witnessed by renowned stakeholders in global mining, including Deputy Minister of Mines and Minerals of Venezuela, Franklin Araque; Australian Ambassador to Nigeria, Paul Lehman; Nigerian High Commissioner to South Africa, Ahmed Ibeto; and the Permanent Secretary of the Ministry.

Others include representatives of top mining conglomerates and representatives of mining nations such as Canada, Zambia, Angola, South Africa and Senegal.

The minister said government was determined to strengthen regulation in the sector as well as ensure the improvement of its geological data.

He said the commission, which would be known as the Nigerian Mining Commission, would not only be the final authority on regulatory matters, but would also take charge of mining leases.

Fayemi, in an interactive session with investors and the media after the presentation of the new Nigeria Electromagnetic Survey results, said the delivery of the geological data, was in line with government’s desire to ensure bankable geological data, that would be an incentive to investors.

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