Data Collection Critical In Making Nigeria A Solid Mineral Destination

By Georgina Humphrey

Minister of Solid Minerals, Dr. Oladele Alake says unless the country improves on data collection, all efforts being made through policies, initiatives, and programs to make Nigeria a destination for Solid Minerals will be ineffective.

Dr. Alake stated this when he hosted the President and Chief Executive Officer of the Africa Finance Corporation, Mr. Samaila Zubairu, in Abuja.

According to the minister, the present administration intend investing heavily on data generation that will enable investors make informed decisions.

“We will invest heavily in data generation, concised and precised data generation that will empower and enable investors make informed decisions”. Dr. Alake added.

He stressed that the Ministry is committed to developing the necessary data needed to advance the $700 billion value under the ground data strategy.

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Dr Alake asserted that the present administration decided to shift attention from fossil fuel and its attendant climatic challenges to solid minerals as a viable alternative.

”President Bola Ahmed Tinubu decided to create the ministry, empower it, and develop policies to make it advantageous to Nigerians” Dr Alake stated.

While acknowledging the robust partnership between the Africa Finance Corporation and Solid Minerals Development Fund aimed at identifying and supporting development -stage mining projects in Nigeria, the Minister said, the visit of the CEO of Africa Finance Corporation signposts how critical the mining sector is to Nigeria’s economic growth and prosperity.

Dr Alake who commended the Africa Finance Corporation, AFC, for helping the Tinubu administration achieve its goal of making the solid minerals industry the nation’s largest source of revenue assured that the Ministry will cooperate and collaborate with the Corporation to make the organization’s roadmap actionable in tandem with the transformation agenda launched recently by the Ministry to increase revenue accruable to the government amongst others.

Earlier, the President and Chief Executive Officer, Africa Finance Corporation, Mr Samaila Zubairu stated that the quantum and value of Nigeria’s solid minerals has made it imperative to develop a framework of collaborating with the Ministry for the growth of the sector.

Mr. Zubairu advocated for the formulation of a framework that will support local investors by development banks to de-risk investment in the mining sector with positive implications on increasing tax earnings for the country.

The AFC boss pledged the corporation’s support for the BiG Data project, value added processing centres, reduction of insecurity and support for indigenous mining companies.

He added that the AFC’s support for Segilola enabled it to prove that an indigenous company could succeed in the mining sector.

Edited By Grace Namiji