In its quest to turn around the sector for rapid economic growth, the Federal Government of Nigeria, FGN, has assured that it will collaborate with development partners and think-tanks such as the Nigeria Society of Economic Geologists, NSEG, to promote research in mineral exploration as it relates to mining, mineral resource classification and mineral processing.
Minister of Solid Minerals Development Dele Alake disclosed this while delivering his goodwill message at the 2nd International Conference of NSEG slated for 22 – 25 October, 2023 in Abuja, a statement obtained by The Rock Post said.
Describing the theme of this year’s conference, “Economic Diversification in Nigeria – The Roles of the Minerals and Metals Sector” as germane and timely in relation to the present administration’s drive for accelerated industrial growth for poverty alleviation, the Minister said the federal government is seriously taking steps aimed at diversifying the economic base of the country through promotion of maximum utilisation of the abundant mineral resources.
Highlighting some of the key efforts of government, he said, “The completion of the NIMEP phase I and the conclusion of plans to commence phase Il is a testament to the administration’s unwavering efforts to continue to provide the much-needed geoscientific data for the growth of the mining industry in Nigeria.
“The importance of these landmark achievements cannot be overemphasised as they would stimulate global interest in mineral exploration and mining in Nigeria.
“However, It is instructive to note that presently, the mineral production in Nigeria has been very minimal, contributing to a less than 1% to the country’s GDP despite its huge potentials.
“The present administration is determined to change this narrative; hence it is willing to collaborate with development partners and Think-tanks such as the Nigeria Society of Economic Geologists to promote research in mineral exploration as it relates to mining, mineral resource classification and mineral processing.
Speaking earlier, the President of NSEG and DG, Nigerian Geological Survey Agency, NGSA, Abdulrazaq Garba whose words the Minister corroborated, indicated that the paradox of performing woefully in revenue generation amidst country’s vast mineral resources over the years is unacceptable, hence there was urgent need for stakeholders to close ranks towards unlocking the potentials for economic and industrial growth, job and wealth creation.
“There is therefore the need to tap the full potential offered by this vital sector to boost its contribution to the GDP, create wealth, reduce poverty, and provide jobs for the teeming masses of the unemployed youth of our dear country.
“This gathering is significant in that it signifies an attempt to engineer a paradigm shift in our mining value chain operations so as to derive maximum benefit from solid minerals and consequently reposition the economy of our great nation through alternative sources of revenue generation,” the nation’s number one geologist said.
According to Dr Garba, NSEG has over the years been contributing its own quota to the development and repositioning of the sector through generation of geoscientific data, and will continue to do more to ensure that the aspirations of government for the sector are achieved.
He said, “It is heartwarming to note that members of the Nigerian Society of Economic Geologists have played a vital role in the generation of geoscientific data needed to woo investors into the solid mineral industry in Nigeria.
“The Nigerian Geological Survey Agency over the years have played a leading role in the execution of exploration projects, that have given birth to many mining endeavours.”
