By ABAH ADAH, Abuja
President Bola Tinubu has reiterated his administration’s commitment to the transformation of the Nigerian mining sector for sustainable inclusive growth.
Tinubu reaffirmed this while declaring open the 2024 and 9th edition of Nigerian Mining Week in Abuja with the theme “From Inside Out: Building the Mining Sector to be the Cornerstone of Nigeria’s Economy.”
Recall that in sync with the Renewed Hope Agenda of the Tinubu administration, development of the mining sector to unlock the potentials of the abundant mineral resources there is a key focus as enunciated at various economic fora in recent times.
Tinubu who was represented by the Minister of Innovation, science, and technology, Chief Uche Nnaji, said his administration is modernising the Nigerian minerals and mining Act to meet the dynamic global economy.
“This legislative reforms will bring service, transparency and international competitiveness to our mining laws, making Nigeria an attractive destination for global investors,” the President said.
The Nigeria’s number one citizen said the reforms would pave way for “environmental sustainable and socioeconomic welfare for communities ensuring that the wealth of Nigeria resources benefits every citizen”.
He however stressed that technological innovation is essential for Nigeria to able to stand in the global market.
“We are reshaping a mining sector that can stand as a global model of innovation, resilience, and sustainable development. We are constructing an ecosystem that would enhance connectivity, facilitate efficient minerals transport and prepare our resources for global market,” Tinubu noted.
Speaking , Minister of Solid Minerals Development and lead host of the event Dr Dele Henry Alake said that the Solid Minerals Sector has recorded significant transformation under the Renewed Hope Agenda of President Bola Ahmed Tinubu by putting new policies in place
Stressing the administration’s commitment responsible and sustainable mining, the Minister of Solid Minerals said that the ministry was addressing the fears of states about environmental degradation by ensuring that mining companies comply with stipulated standards, adding that there were departments responsible for overseeing the operations of the operators.
Alake added that the move was aimed at addressing reports of sub-national interference involving over-regulation of the sector and multiple taxes imposed by state governments, among other issues.
He said that the move was easing tensions in states, with infractions by mining companies being reported to the ministry for appropriate action.
The minister urged mining stakeholders to think outside the box and introduce innovations and initiatives to address their challenges, stating that concerted efforts were required to develop the sector.
On his part, Minister of Steel Development Prince Shuaibu Abubakar Audu said that the ministry was driving strong initiatives to revive the steel industry and ensure that the sector becomes operational and a great contributor to the economic diversification goals of the “Renewed Hope Agenda” of President.
He noted that the signing of the Memorandum of Understanding, MoU, between the federal government and the original builders of the Ajaokuta Steel Plant, TPE and its consortium, in September 2024 in Moscow, Russia, was a great feat in the revival efforts of the Ajaokuta steel plant, the flagship project of the Nigerian Steel and metal sector, which has been comatose for over four decades.
He said in a bid to deliver on the uphill mandate placed on the shoulder of the ministry, they were into collaboration with relevant stakeholders.
“We are collaborating with the National Assembly Committees on Steel Development for quick passage of the following bills: the National Metallurgical Training Institute, Onitsha Establishment Bill; Metallurgical Industry Bill; and amendment of National Steel Council Act.
“We have developed an in-house ten year sectoral Roadmap for the sustainable growth of the sector with a target production of 10 million tonnes of Crude Steel and other metallic products annually.
“The final Roadmap document would provide guidance to all industry players and prospective investors on the policy direction of the Federal Government of Nigeria,” Audu said.
In his presentation, the Chairman Senate Committee on Solid Minerals, Sen Ekong Sampson, disclosed that both the Senate and House of Representatives were working closely in support of the sector’s transformation, stressing that no one can drive the reforms in the Solid Minerals alone, hence all stakeholders should join hands.
On his part, the Chairman House Committee on Solid Minerals, Jonathan Gbefwi-Gaza said the Green Chamber would support any way possible with regards to legislation to ensure that the set goals are achieved, noting that Nigeria is too blessed to be facing the present economic challenges.
Earlier, the President Miners Association of Nigeria, Mr Dele Ayanleke called for all hands to be on deck to rebuild and restore the glory of the mining industry.
Also present at the event were the Minister of Budget and Economic Planning, Sen. Abubakar Atiku Bagudu, Minister of Defence, Mohammed Badaru, Minister of Information and National Orientation, Mohammed Idris, Hajiya Hadiza Bala Usman, Special Adviser to the President on Policy Coordination, among other dignitaries.
