The Minister of Solid Minerals Development, Dele Alake, has highlighted that Nigeria possesses 44 mineral resources that are highly sought after globally.

He also mentioned that the government has apprehended over 300 illegal operators, with more than 133 currently facing prosecution.

Alake noted that reforms introduced by the Tinubu administration have sparked renewed investor interest in Nigeria’s mining sector.

In his keynote address at the Nigeria Middle East Investors Expo and Awards on Friday, July 5, Alake stated that the Federal Government’s focus on solid minerals has attracted global attention to Nigeria’s mining sector, resulting in increased investments and revenue for the country.

He disclosed that the government has identified over 40 million tonnes of talc deposits in Niger, Osun, Kogi, Ogun, and Kaduna states.

Additionally, there are approximately 1 billion metric tonnes of iron ore in Kogi, Enugu, Niger states, and the Federal Capital Territory, as well as an estimated 10 metric tonnes of lead and zinc spread across eight states, according to available mineral data.

Alake said, “We have over 44 globally sought critical minerals in Nigeria. A crucial factor for foreign investment is data. We are working to significantly increase funding for exploration to generate the necessary big data that will attract major international players and position Nigeria as a global mining destination.”

Emphasizing the impact of his 7-point agenda, the Minister outlined the successes of the mining marshals in tackling illegal mining activities, resulting in the arrest and prosecution of many offenders nationwide.

He disclosed that the officers have apprehended over 300 illegal operators, with more than 133 currently facing prosecution.

“Since deploying the mining marshals as part of our comprehensive plan to sanitize the mining environment, they have been working assiduously and efficiently. Over 300 illegal operators have been apprehended, with more than 133 currently undergoing prosecution. We are making significant progress,” A statement by the Special Assistant on Media
to the Minister, Segun Tomori read.

To improve the effectiveness of the mining marshals, Alake announced plans to implement satellite monitoring of mining sites.

“We are installing satellite surveillance mechanisms, allowing us to monitor all mining sites in Nigeria from the Minister’s office, identify any illicit activities, and promptly deploy mobile mining marshals,” he said.

In a bid to enhance the operating environment and ease of doing business, Alake highlighted the recent launch of the Decision Support System, an online platform that provides comprehensive information about Nigeria’s solid minerals sector. This platform is designed to help prospective investors worldwide make informed decisions about investing in the mining sector.

Emphasizing the abundance of high-grade critical minerals in the country, Alake reaffirmed Nigeria’s readiness for business and encouraged investors to take advantage of the improved regulatory frameworks and incentives.

On Thursday, July 4, the minister announced a review of mining rates and dues to further improve the ease of doing business and support ongoing reforms.

The new rates, which apply to 268 items in the industry, aim to maximize royalties from critical minerals such as lithium and gold, boosting the nation’s revenue and contributing significantly to economic development.