Minister of Solid Minerals Development, Dele Alake has revealed that Nigeria’s solid minerals sector has started attracting significant international interest as foreign investors showing a keen desire to key into the country’s mineral resources industry.
He noted that President Bola Tinubu gave his word to increase funding for the mining sector through the ministry.
The minister, who spoke at the close out session of the Nigeria Mining Week 2023 yesterday in Abuja, explained that the funding will facilitate the generation of essential big data to further provide both local and foreign investors with information to make decisions and judgments about areas of operation.
He said: “ On our part, I can assure you that the president has given his pledge to increase funding into this sector through the Federal Ministry of Solid Minerals Development.
“With such funding, we can then embark on those very significant steps that we need to take going forward, such as generating the big data, without which we cannot begin to talk about any serious implementation or execution of policies or attracting the much needed foreign investment.
“ So, moving forward, we are going to invest heavily in big data generation efficient data that would enable investors both local and foreign to make informed decisions and judgments for areas where they want to operate. To learn, let them know what is where and how.
“I mentioned it again yesterday in my opening remarks. We are rejigging the security architecture that we have on the ground and it’s going to be a security agency structure with a large dose of technology to ensure that those that are newly licensed would have a very peaceful environment to operate.
“It reduces friction between operators in the field and their host communities, reduces whatever acrimony between operators and other levels of government– state, local, whatever.
“We are going to ensure that going forward, all our environments are made safe, operating environments are made safe for the players in the industry, so that the government too can rest on it for us. And expect the windfall that we have seen in the horizon coming into the kits of government.”
