NASD Restates Importance Of Well-developed Solid Minerals Sector For Economic Growth

NASD OTC Exchange Plc has stated the importance of a well-developed solid minerals sector in driving economic growth and development.

This is as the Exchange congratulated Hajiya Fatima Shinkafi on her re-appointment as the executive secretary/CEO of the Solid Minerals Development Fund (SMDF).

The OTC Exchange said that Shinkafi’s re-appointment will continue to foster a conducive environment for investment and growth in the sector.

It said, “we are thrilled that this re-appointment by President Bola Ahmed Tinubu, is a testament to her exceptional leadership and dedication to the development of the solid minerals sector in Nigeria. Under Shinkafi’s guidance, the SMDF has made significant strides in promoting the growth and diversification of the Nigerian economy.

“We look forward to continuing our collaboration with the SMDF under her exceptional leadership and exploring opportunities for mutual growth and development.

“SMDF possesses clear expertise in the needs and peculiarities of the Solid Minerals sector, having brought to bear structure, data and critical skilled partnerships in the development of the sector over the last few years as well as having delivered discernible initiatives to specific mining products such as the Presidential Artisanal Gold Mining Development Initiative (PAGMI).”

NASD noted that, “introducing the concept of digital Security Token Offerings (STOs) to exploring the funding of the Solid Minerals sector, is one area that NASD and SMDF are convinced will evolve efficient and simplified arrangements to attracting broad-based private sector funding via the Nigerian Capital Market to the sector.

“This combination of the two organisations would work to gradually nurture the Solid Minerals sector in a way as to make it amenable and adequately securitised for easy accessibility to local and international investors.”

The Exchange stated that, “the Nigerian Solid Minerals sector is at a stage today where the Oil and Gas industry was in the early 1960s. The same development and investment process of going through proper codifying, assembling data and evolving order to the exploration and development process is required in the Solid Minerals sector.

“It is only in this way that the industry will achieve its appropriate scale and deliver on the much-vaunted potential that has been spoken about the industry over the years.”