The Federal Government of Nigeria has initiated the formalization of 250 small and artisanal miners into cooperatives as part of its strategy to combat illegal mining and promote a more structured industry. This announcement was made by the Minister of Solid Minerals Development, Dele Alake, during a briefing ahead of the upcoming Nigeria Mining Week. The move aims to encourage artisanal miners to transition from informal and illegal activities to regulated operations, enhancing accountability and industry standards. Alake highlighted the success of this strategy, noting the increase in registered cooperatives and the establishment of over 150 new buying centers as of October 2024.
Minister Alake emphasized the government’s commitment to transforming the mining sector by focusing on value addition, processing, and local beneficiation rather than mere raw material extraction. He pointed out that Nigeria is endowed with more than 44 types of minerals, many of which remain largely untapped. This underutilization represents a substantial opportunity for economic growth and industrialization. The minister reiterated the government’s objective to harness the country’s mineral wealth to drive job creation, bolster local businesses, and contribute significantly to national economic development.
Alake also unveiled several projects aimed at enhancing Nigeria’s mining capabilities, including processing plants for lithium and rare earth elements in Kwara and Kebbi states, a tantalite processing plant in Abuja, and a new gold refinery set to be established in Gwarinpa. He announced the progress made in setting up the Nigerian Solid Minerals Company, an initiative being fast-tracked through the Ministry of Finance. These projects are expected to strengthen the mining sector’s infrastructure, boost local processing capabilities, and attract further investment, positioning Nigeria as a key player in the global mineral market.
As Nigeria prepares for the 9th edition of Nigeria Mining Week from November 18 to 20, Alake highlighted the event’s theme, “From the Inside Out: Building the Mining Sector to be the Cornerstone of Nigeria’s Economy.” The conference will feature discussions on vital issues such as environmental reforms, innovative financing solutions, and gender inclusion in mining. Alake underscored the event’s significance as part of President Bola Tinubu’s Renewed Hope Agenda, aimed at diversifying the economy, creating jobs, and promoting sustainable community development. The minister expressed confidence that the event would solidify Nigeria’s ambitions to become a leader in the global mineral value chain and drive economic prosperity.
