In a significant move to streamline the mining sector, the Nigerian government has apprehended over 300 illegal miners, with more than 133 currently undergoing prosecution, according to the Minister of Solid Minerals Development, Dele Alake.
As reported by PUNCH, Speaking at the Nigeria Middle East Investors Expo and Awards, Alake highlighted the Tinubu administration's comprehensive plan to sanitize the mining environment, which has led to the deployment of "mining marshals" tasked with combating illicit activities.
Alake stated that the government has identified over 44 globally sought-after mineral resources in abundance across the country, including over 40 million tonnes of talc deposits, approximately 1 billion metric tonnes of iron ore, and an estimated 10 metric tonnes of lead and zinc.
To capitalize on this vast mineral wealth, the Minister emphasized the government's focus on generating the necessary "big data" to attract major international players and position Nigeria as a global mining destination.
"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," Alake said.
In a bid to enhance the operations of the mining marshals, the government plans to incorporate satellite monitoring of mining sites, allowing the Minister's office to identify any illicit activities and promptly deploy mobile mining marshals to address them.
The Minister also highlighted the recent launch of the Decision Support System, an online platform providing comprehensive information about Nigeria's solid minerals sector, aimed at assisting prospective investors worldwide in making informed decisions about investing in the mining sector.
Furthermore, Alake announced a review of mining rates and dues to enhance the ease of doing business and consolidate ongoing reforms, with a focus on maximizing royalties from critical minerals such as lithium and gold to boost the nation's revenue and contribute significantly to economic development.
The government's crackdown on illegal mining and the implementation of reforms have already yielded positive results, as Alake affirmed the renewed investor interest in Nigeria's mining sector, driven by the improved regulatory frameworks and incentives.
"Reforms implemented by the Tinubu administration have led to a renewed investor interest in Nigeria's mining sector, spurring increased investments and revenue for the country," Alake stated.