Data Is The New Oil In Mineral Exploration – Shinkafi

The executive secretary of the Solid Minerals Development Fund (SMDF), Hajiya Fatima Umaru Shinkafi, has declared that “data is the new oil” in Nigeria’s mining sector.

She outlined a shift toward data-driven exploration and mineral development under the newly launched Exploration, Mineral Evaluation, Research, Growth and Economic Recovery (EMERGE) initiative.

At the launch of EMERGE programme on Wednesday in Abuja, Shinkafi said the future of mining would be defined by the ability to generate, interpret, and monetise geological data rather than rely solely on extraction.

She explained that early-stage exploration remains the riskiest but most critical phase of mining development, stressing that modern tools such as geophysics and advanced geological surveys are essential to unlocking Nigeria’s mineral wealth.

“Data is the new oil… and data monetisation is now the future,” she said.

“You cannot do new projects without understanding what is under the ground. The only way is exploration using geophysics and modern tools,” she said.

According to her, EMERGE was designed as a structured framework that connects all stages of the mining value chain—from exploration and research to project development, construction, and production—into a single coordinated system.

“These are not isolated interventions, but a single, coherent, continuous framework,” Shinkafi said.

“Each policy builds on the ones before it, improving value in the sector and aligning to a diversified, productive economy built on metallic minerals,” the executive secretary said.

She noted that the programme also introduces a new investment logic for the sector, where data itself becomes an economic asset capable of attracting funding even before physical extraction begins.

Shinkafi added that Nigeria must position itself competitively in the global critical minerals race by strengthening capacity, improving access to geological information, and supporting indigenous miners with modern systems and tools.

“We are encouraging Nigerians to use these tools on new systems… We are trying to make life easier for indigenous miners,” she said.

She further described Nigeria as increasingly attractive to global investors in solid minerals, urging stronger institutional readiness to manage rising international interest.

On his part, the minister of Solid Minerals Development, Dele Alake, said EMERGE is part of broader reforms aimed at turning Nigeria’s mineral resources into industrial and economic value through structured investment streams.

He explained that the programme focuses on exploration, critical minerals development, and research and innovation, all aimed at deepening local value addition.

“We are funding not only the digging, but the science of turning what we find into finished higher-value products on Nigerian soil,” Alake said.

“This government is no longer offering a single door; it is offering a full corridor of support from geological data to the final product.”