Oritsegbubemi Omatseyin
Lagos — The Minister of Solid Minerals Development, Dele Alake, has credited the rapid growth of Nigeria’s solid minerals sector to President Bola Tinubu’s reforms.
According to Alake, the gains include an increase in the sector’s contribution to the Gross Domestic Product, GDP, more foreign direct investment and the country’s rising profile as the best destination for mining.
Speaking through the Director-General, Mining Cadastre Office, Engineer Obadiah Nkom at the Prospectors and Development Association of Canada, PDAC, conference held in Toronto, Canada, the minister emphasized Nigeria’s readiness to partner with credible investors committed to responsible and sustainable mining in the country.
Addressing participants at the 27th Annual African Mining Breakfast, a high-level platform convening African Ministers, industry leaders, and global investors for sustained dialogue on unlocking the continent’s mineral wealth, he canvassed the need for synergy among African countries to unlock the vast potentials in the sector.
The Ministry’s delegation also participated at the International Mines Ministers Summit that had in attendance representatives from France, Chile, Saudi Arabia, DRC, Cameroon, Sierra Leone, Canada, Egypt, Australia, IGF, World Economic Forum, WEF, amongst others.
Alake expressed the commitment of the Federal Government to promoting value addition within the solid minerals sector, stressing that Nigeria has moved beyond merely exporting raw minerals to emphasizing local processing in order to ensure maximum beneficiation for citizens and the nation’s economy.
He also underscored the importance of stronger cross-border integration within the mining industry, adding that establishing structured agreements and coordinated policies would help unlock greater opportunities for trade, investment and shared infrastructure development across borders.
“Integration does not fail because Africa lacks frameworks. It fails because projects stall between borders. A mine may be viable in one country, but the rail link, the power line, or the processing facility sits across the border. And no one institution takes responsibility for stitching these pieces together. I want to charge development finance institutions and strategic investors to go beyond funding local investments in isolation and start funding regional linking systems,” Alake said.
He assured: “Nigeria is ready to anchor such corridors. We have the data, the reforms and the political backing and all we need right now is capital that is structured for integration”.
Also on the sidelines of PDAC, the Nigerian team held a meeting with Ms. Paula Caldwell, Chairperson of the Canada–Africa Chamber of Business, to discuss opportunities for strengthening Canada–Nigeria business engagement in the mining sector.
The meeting was facilitated by the Canadian High Commissioner to Nigeria, Pasquale Salvaggio who underscored the importance of expanding commercial and investment partnerships between Canadian companies and Nigeria’s solid minerals sector.
The discussion centered on an upcoming Canada–Africa business engagement initiative, particularly the proposed African Partnership Business Conference scheduled to take place in May. Ms. Caldwell explained that the conference is designed as a high-level platform to connect Canadian companies with African investment opportunities and government stakeholders.
“The conference aims to bring together Canadian companies seeking to expand their presence in Africa, including firms already operating on the continent but looking to enter or grow within the Nigerian market,” she added.
The 4-day conference also featured high-level engagements with international mining executives, development partners and prospective investors to highlight Nigeria’s vast mineral potential and ongoing reforms aimed at improving transparency, strengthening geological data, formalizing artisanal mining activities, and creating a more competitive investment climate.
