Nigeria, Africa’s Investment Destination In Solid Minerals – FG

Nigeria has positioned itself as the top investment destination in the solid minerals on the African continent, and is now looking to achieve global relevance in the industry in the coming years.

The minister of solid minerals development, Dr Dele Alake made this declaration at the pre-event press conference in Abuja on Thursday to foreshadow the tenth edition of the Nigeria Mining Week holding on 13–15 October this year
Noting that the theme of the three-day event —Nigeria Mining Industry: From Progress to Global Relevance—was apt, the minister, represented by the permanent secretary, Engr. Faruk Yusuf Yabo, said that with 44 solid minerals discovered across the country, and steady innovation introduced by the government, Nigeria’s mining industry was no longer a hidden frontier, but one that represents the most exciting destination for investment on the African continent.

Looking ahead to the next decade, Alake said the Ministry had now gone beyond mineral extraction to setting higher goals such as scaling up production responsibly, building sustainable value chains, promoting beneficiation and value addition, raising the mining industry’s contribution to GDP, creating jobs and supporting community development, and embedding global best practices in environmental and social governance.

He said, “As we enter the next decade, our focus is to scale up the industry and ensure sustainability, drive value addition, and firmly position Nigeria as a globally relevant mining hub.”

Alake also remarked that the Mining Week event had evolved from a modest industry gathering into a significant platform that brings together government, investors, operators, and development partners

The event, hosted by the Ministry of Solid Minerals Development in partnership with the Miners Association of Nigeria, the Vuka Group, and PricewaterhouseCoopers, will provide a platform for industry professionals, government officials, policymakers, and other key stakeholders to engage, share ideas and insights, discuss challenges, and explore business opportunities, among other objectives.
According to him, the Ministry’s role as host of the event reflects the government’s commitment to making mining a central pillar of Nigeria’s economic diversification agenda.

Alake noted that the Tinubu administration had identified the industrial sector as key to its effort to wean the country off over-dependence on oil.
He lauded the Miners’ Association of Nigeria, the Vuka Group, and PwC Nigeria for working with the Ministry to deliver a world-class event.
In his speech, President of the Miners Association of Nigeria. Dele Ayanleke, , highlighted the transformative journey of Nigeria’s solid minerals sector over the past nine years, crediting Nigeria Mining Week as a vital platform in this progress.

According to him, the event has consistently fostered innovation, attracted investment, and driven policy and regulatory reforms, playing a crucial role in modernising mining operations, educating small-scale miners, and facilitating deals with both local and international investors.
Ayanleke pointed to several achievements: increased exploration activities, formalisation of artisanal mining, adoption of new technologies, growth in mineral production (notably gold, limestone, and bitumen), and improved compliance and governance. He noted that policy reforms such as streamlined licensing and fiscal incentives have enhanced the ease of doing business in the sector.

Despite these gains, he acknowledged persistent challenges, including infrastructure deficits, limited access to finance, regulatory hurdles, and the need for greater skill development and technology adoption.

He, however, said these also present opportunities to push for sustainable growth through collaboration, innovation, and investment.

“With the right policies, collaboration, and investment, our sector can drive economic diversification, create jobs, and contribute significantly to national development,” he said.
Habib Jaiyeola, Partner and Head of Mining Sector Business Development at PricewaterhouseCoopers (PwC)—one of the event partners—said the Mining Week would provide a fertile ground for stakeholder engagement that would contribute to making Nigeria’s mining sector globally competitive. He also noted that the sector was critical to Nigeria’s diversification drive.

In his remarks, Samukelo Madlabane, event director of Mining at the Vuka Group,, said the Mining Week event started ten years ago with just 200 mining stakeholders gathering to hold a small exhibition.

“From that humble start, our annual conference and exhibition—from 2016 to 2019—became a vital platform for policy dialogue, reforms, and new initiatives, attracting a growing number of government officials, industry leaders, and investors,” he said.

He added that the 2023 edition attracted over 2,100 mining professionals, over 200 sponsors and exhibitor delegates, and more than 40 mining operators.

“This year, Nigeria Mining Week continues its critical role in shaping our industry’s future by championing collaboration, innovation, and sustainable development. We are not just a platform—we are the catalyst for progress,” he said.

The event organisers say the 2,300 2024 event delegates included seven African countries, 23 international companies, 10 ministers, and 47 expert speakers, among others.