Mining Week: Stakeholders Demand Investment-friendly Policies, Local Mineral Processing

Nigeria must establish a predictable investment environment, develop bankable mining projects and expand domestic mineral processing to attract capital and unlock greater economic value from its solid minerals sector, the Miners Association of Nigeria (MAN) and PricewaterhouseCoopers (PwC) Nigeria have said.

They made the call on Tuesday at the opening of the 11th edition of Nigeria Mining Week in Abuja, stressing that collaboration among government, mining companies, investors, financiers and host communities was essential to developing the industry.

Speaking at the event, PwC Nigeria’s Partner and Mining Industry Leader, Cyril Azobu, said the country’s mineral endowment would not automatically translate into economic growth without viable projects, predictable regulations and access to investment capital.

“Nigeria’s mineral potential is well established, but unlocking its full value requires more than mineral endowment,” Azobu said.

“It requires collaboration between government, mining companies, investors, financiers, communities and development partners to create the conditions for viable projects to attract capital, develop successfully and generate lasting economic value.”

He said the priority should be to convert Nigeria’s mineral resources into bankable projects and productive assets by creating an investment environment that attracts credible investors and provides access to finance, technology and technical expertise.

Azobu also called for a shift from exporting raw minerals to domestic processing and value addition, arguing that Nigeria needed to capture a greater share of the economic benefits generated across the global minerals value chain.

US Partnership Offers Opportunity

Azobu identified the recently signed critical minerals framework between Nigeria and the United States as an example of international cooperation that could connect Nigeria’s mineral resources with the investment, technology and expertise required to develop them.

He said growing international interest in Nigeria’s critical minerals presented an opportunity to attract investment and strengthen the country’s position in global mineral supply chains.

However, he stressed that the country needed to translate that interest into viable projects and productive assets capable of generating sustainable economic benefits.

PwC, he added, would continue to support the industry through its advisory services and global network, helping investors and operators navigate regulatory and operational challenges, structure transactions and adopt sustainable mining practices.

MAN Emphasises Industry Collaboration

On his part, the president of MAN, HRH Oba Ayandele Olaitan Oyebisi Ayanleke Elegbede, Gbolahan II, said stronger partnerships among industry stakeholders were essential to transforming Nigeria’s solid minerals sector.

“The strength of our sector lies in collaboration,” he said.

He noted that MAN’s partnerships with the Federal Ministry of Solid Minerals Development, investors and other industry stakeholders had contributed to policy development, improved operational standards and greater confidence in the sector.

According to him, Nigeria Mining Week has, over the past decade, provided a platform for introducing innovative ideas, emerging technologies and international best practices, while facilitating business connections and investment deals involving local and foreign investors.

He said the annual event had also helped educate small-scale mining titleholders and indigenous operators on global best practices and local operating standards.

Founded in 1944, MAN represents organisations involved in mining, quarrying, mineral trading, consultancy and related services, with members and chapters across the 36 states and the Federal Capital Territory.

Oyebisi said this year’s programme would focus on promoting investment, improving safety, supporting artisanal and small-scale miners and strengthening compliance with global best practices.

According to him, the programme features a Deal Room, the Nigeria Steel Forum, Gold Day, the Women in Extractive Industries Forum, a chief executive officers’ roundtable and technical workshops covering exploration, financing, processing, infrastructure, transparency and regional collaboration.

He urged participants to use the engagements to develop practical solutions, establish business relationships and translate discussions into tangible investment outcomes.