The inaugural edition of the annual BusinessDay Solid Minerals Conference took place at Hawthorn Suites, FCT-Abuja on Tuesday, January 30, 2024.
The conference, themed “Digging Deeper: Diversifying Nigeria’s Economy for Wealth Creation,” drew the participation of key stakeholders in the solid minerals and mining sectors, including the Minister of Solid Minerals Development, Dele Alake; Lamin Barrow, Director General, AfDB, Nigeria Country Department; Malami Uba Sa’idu, President, Geological Society of Nigeria; and Dele Kelvin Oye, National President of NACCIMA.
In his opening remarks, Frank Aigbogun, the Publisher of BusinessDay Media Limited, emphasized the conference’s aim to propel the solid minerals sector into becoming a primary revenue generator for Nigeria and a catalyst for economic growth and development. Minister Alake’s capacity to reinvigorate the sector, attract foreign investment, and spearhead the diversification of the economy away from crude oil was also highlighted.
The Minister of Solid Minerals Development, Dr Dele Alake, delivered an address emphasizing the need for reforms to achieve international competitiveness and sustainable development in the solid minerals sector. The establishment of the Nigerian Solid Minerals Corporation as a private-sector-driven institution and other key initiatives were discussed.
During the panel session, stakeholders deliberated on the challenges facing the solid minerals and mining sectors and proposed strategies to surmount them. Key recommendations included legal and regulatory reforms, infrastructure development, geological survey and data management, investment promotion, capacity building and technology transfer, environmental and social responsibility, value addition and downstream industries, market development and export promotion, public-private partnerships, and governance and transparency.
The conference provided a platform for stakeholders to engage in critical discussions and exchange ideas on the revitalization and diversification of Nigeria’s economy through the solid minerals sector.
It is expected that the insights and recommendations generated will serve as a roadmap for policymakers, investors, and industry players to collaborate in implementing strategic reforms, promoting responsible mining practices, and harnessing the value-addition potential of solid minerals.
