The Minister of Solid Minerals Development, Dr Dele Alake, has said that Nigeria must move beyond extraction in mining to reap the gains of the sector.
Alake stated this at a press conference to kick-start activities of the ninth edition of the Annual Nigeria Mining Week last week, in Abuja.
He said that even though Nigeria was blessed with 44 minerals and possesses the critical minerals needed for energy transition, it must move beyond extraction to yield its full potential.
“We are focused on establishing systems and structures that allow Nigerians to benefit directly from our resources.
“Through local value addition, processing and beneficiation, our aim is to transform Nigeria’s wealth into industrial and economic power, generating jobs and supporting local businesses in ways that ripple through our economy.
“Lithium processing plants have been inaugurated in Nasarawa State, and plans are under way to unveil more processing plants on the outskirts of the Federal Capital Territory.
“Value addition is gaining traction and momentum because of the determination of the government to reposition the solid minerals sector to contribute significantly to the Gross Domestic Product,” he added.
He said that President Bola Tinubu’s administration was determined to implement its value addition policy by ensuring that mineral resources do not leave the shores of the country in their raw form.
According to him, the government is positioning Nigeria as a formidable player in the global mineral value chain, driven by a commitment to retain the wealth generated within the communities.
He added that the administration was also prioritising security of mineral resources through addressing illegal mining using both persuasive and coercive measures.
Alake stated that the mining week provides a unique opportunity to bring together investors, experts and government leaders from around the world to foster partnerships.
The minister explained that the move was aimed at driving innovation, financing and policy evolution, adding that the event was aimed at addressing both current challenges and future opportunities in Nigeria’s mining sector.
