Mining Can Make Nigeria World’s Best Investment Destination – Adegbite

The minister of Mines and Steel Development, Arc. Olamilekan Adegbite, has revealed that the enormous and abundant mineral resources spread across every part of the country has the potential to make the nation the “next best investment destination of the world, transform the economy, develop infrastructure and grow the Gross Domestic Product (GDP) of country”.

The minister disclosed this at the 2022 Nigeria Mining Week Pre-Event Press Conference yesterday at the ministry’s headquarters in Abuja.

Adegbite disclosed that the Nigeria Mining Week which is scheduled to hold between the 1st and 3rd of November 2022, at the International Conference Centre, Abuja, forms part of the ministry’s strides in beating the country’s proverbial mining drum loudly and clearly around the globe and communicating the message that the Nigerian Mining Sector is ready for investment and development.

The minister also revealed that key issues to be discussed would include the critical Mineral Resources which are the building blocks for many technologies providing the world with green renewable energy; Environmental Social Governance (ESG) global trends; the journey so far on the bankable geoscientific data acquisition; downstream opportunities, among others.

The minister further stated that Nigeria as one of the epicenters for the next technological change in the mining sector is well positioned to support supply chain diversification, as well as the security of supply on a global scale.

Adegbite noted that the 2022 Nigeria Mining Week would afford investors the opportunity to network with colleagues from all around the globe, hear expert analysis, secure deals in private chats, as well as debate the latest opportunities and challenges of the mining industry.

Speaking at the occasion, the minister of state, Sen. Gbemisola Saraki stated that the 2022 Edition of the Nigeria Mining Week will welcome the entire mining ecosystem, mining companies, operators, investors, as well as governmental representations in order to discuss the key challenges and solutions surrounding the mining industry. She added that this year’s session would address the direction of thought as a nation and the imperatives of a long term plan for the mineral and metals industry in Nigeria.

She enjoined the media to help spread the words and generate awareness about the upcoming 2022 Nigeria Mining Week.

In her remarks, the permanent secretary, Oluwatoyin Akinlade, noted that the Nigeria Mining Week has become a committed forum for mining investors all over the world. Adding that the 2022 Edition of the Nigeria Mining Week will be a game changer in the global mining ecosystem.

Earlier, Acting President, Miners Association of Nigeria (MAN), Alhaji Musa Muhammed, disclosed that the 2022 Edition of the Nigeria Mining Week aims to project the emerging developments and performance of the sector, especially towards the diversification of the nation’s economy away from oil and gas with a focus on the abundant mineral endowments of the country. He noted that the target is to see the sector contributing about USD 27 billion to the Gross Domestic Product (GDP) by the year 2025 as contained in the Nigeria Mining Roadmap of 2016.

Speaking, Echezonachukwu Uduji, Manager, Mining Sector, PriceWaterhouseCoopers Nigeria, stated that the 2022 Mining Week is positioned at ensuring that all the achievements in the Nigerian Mining Sector are being showcased to the international community and local investors. He added that the conference will also look at challenges currently faced in the sector and proffer workable solutions to ensure the challenges are resolved.

Also, Kudakwashe Tsingano, Business development manager, Vuka Group South Africa, said the Group was honoured to have relationship with mining stakeholders in Nigeria as it has given the avenue to discuss, connect and network for the development and growth of the sector.