Nigeria At The Threshold Of Mining Renaissance – Alake

The Minister of Solid Minerals Development, Dr Dele Alake has reiterated that Nigeria stands at the threshold of a mining renaissance.

Dr. Alake stated this at the National Association of Securities Dealers and the Solid Minerals Development Fund SMDF, NASD -SMDF webinar on unlocking Nigeria’s minerals potential through the capital market.

The minister who was represented by his Senior Adviser on Mining & Policy, Amira Adamu Waziri, stressed that capital, technology and partnership is critical to unlocking Nigeria’s vast resources.

He explained that the sector is not only after extracting the available mineral resources but how to use it for the economic development of the nation.

“We have the mineral resources. We have the political will. What we now require is the capital, technology, and partnership to unlock this potential.

“As we explore the possibilities before us today, let us keep in mind that this sector is not just about extracting minerals—it is about building an economy that is inclusive, resilient, and globally competitive” Dr. Alake stated.

One of the keynote speakers, Director at Agile Dynamics, Paul Lalovich, in his presentation on “Real World Asset Tokenization, said the future lies in sovereign-compatible blockchain infrastructure.

He highlighted that tokenization can enable more transparent capital flows and innovative cross-border digital finance models to fund early-stage exploration.

According to him, the collaboration marks a joint commitment to building the next generation of sovereign-compatible blockchain infrastructure, enabling more transparent capital flows, the tokenization of realworld assets, and new models of cross-border digital finance.

Lalovich added that combining Hyperchain’s deep technological expertise with Agile Dynamics’ international business and regulatory capabilities, the partnership will accelerate blockchain adoption across emerging markets in Africa, Latin America, Asia, and the Middle East.

Also speaking on ‘Mining asset development cycle and investment readiness” a Mining expert and corporate financier, Jon O’ Callaghan, warned that Nigeria’s solid minerals sector will remain trapped in artisanal practices if urgent steps are not taken to attract risk capital for exploration.

O’Callaghan, stressed that investors must understand the seven stages of a mineral project and follow them in sequence, from reconnaissance and licensing to feasibility studies, financing, and eventual mining, insisting on no shortcuts in mining.

“You can not jump from licensing straight to production and expect financing because without feasibility studies and proper exploration, investors will not commit funds”

He added that Nigeria’s abundant mineral wealth remains largely underexplored due to the absence of readily available risk capital.

Earlier, the Director General Nigeria Mining Cadastre Office, Obadiah Simon Nkom, who spoke on “Licensing processes and requirements of a mining asset,” said investors must comply with reporting obligations, periodic progress reports and payment of yearly service fees to retain permits.

He explained that mining assets gain economic and legal value only after validation under existing laws and regulations.

In her closing remarks, the Executive Secretary of the Solid Minerals Development Fund, Hajia Fatimah Shinkafi stressed that insights shared during the session will help drive sustainable growth in Nigeria’s mining industry by boosting capital market participation.

Shinkafi, who was represented by her assistant, Omotayo Omitokun, expressed appreciation to all speakers, participants, and stakeholders for their contributions.

She reaffirmed SMDF’s commitment to partnering with stakeholders to unlock the country’s vast mineral wealth and support the Renewed Hope Agenda of President Bola Ahmed Tinubu.

Georgina Humphrey, Edited By Grace Namiji