The Nigerian mineral sector, especially solid minerals, has been on the lookout for big investors in mines to build the sector. In a bid to ensure that investors are wooed into this sector, the Minister of Solid Mineral Development, Dele Alake, has promised to employ every necessary initiative to ensure the safety of investment and attract big players into this sector.
As part of his effort to restore the Nigerian mines, the minister has announced that the federal government will deploy technology to monitor mining sites all over the world.
What They Are Saying
In an interview on Sunday, the minister mentioned that the government is looking to deploy satellite surveillance gadgets in addition to the 2,220 personnel of the Mining Marshal Corps drawn from the Nigeria Security and Civil Defence Corps (NSCDC) to monitor mines and combat illegal mining.
“We are introducing some technology; we are not just relying on men and materials alone,” said Mr. Alake. “The satellite surveillance gadgets we are putting in there enable us to see all mining sites in Nigeria in real-time.”
“That reduces the time of knowledge and action. Right now, we depend on people passing intelligence to us, but when the satellite surveillance gadget is working, we will be able to see it ourselves,” he said.
This move is to encourage security in the mining sector, making it attractive to big investors.
Mr. Alake noted, “We needed to put in place policy measures to ensure that when these investors come, they are not just coming into the darkness that we had here before.
“They will ask some questions about the security of their operating environment, investment, personnel, and the ease of doing business in Nigeria and the sector.”
He said President Bola Tinubu’s administration inherited many security challenges, such as banditry, kidnapping, and terrorism, associated with the solid mineral sector.
Mr. Alake said concerted efforts are being deployed to curb the menace with other government agencies, such as the Economic and Financial Crime Commission (EFCC), the Nigerian Army, and the police, for rapid results.
Mr. Alake also said plans are ongoing to establish six mineral centers in the six geo-political zones to boost the sector.
He said the plan was part of the current administration’s commitment to diversifying the country’s economy by developing key sectors such as the solid minerals industry.
“Another one is the creation of six minerals centers in each of the six geo-political zones.
“We have our minerals all over the country, and we cannot concentrate the mineral processing centers in one center, and as we speak, those plans are ongoing in the zones,” he said.
Why It Matters
The Nigerian mines seem to be the least exploited sector of the Nigerian economy, with little impact on the economic development of Nigeria. Nigeria is currently looking for ways to benefit from its mineral resources and is therefore seeking investors in the mines. However, the price of foreign investments has always left the communities where these mines were situated suffering worse woes with no development. This will not be the case going forward as the ministry sets to implement policies that will ensure that mines add value to the Nigerian economy. Encouraging security and ample monitoring of mines will give the ministry more control over these mines.
Bottom Line
By implementing advanced surveillance technology and robust security measures, Nigeria aims to transform its solid mineral sector, making it more attractive to investors and ensuring that mining activities contribute significantly to the nation’s economic growth and community development.
