Nigeria says Africa has more than 60 percent of the world’s natural resources.
The continent, Nigeria said should take advantage of the resources to develop its economy.
African nations should be demanding value addition for its mineral resources, Mr Dele Alake, Nigeria’s solid mineral development minister said.
He reiterated that approval for licences should only be given to mining companies that would comply with value addition to mineral resources.
Alake pointed out that Nigeria has the critical minerals needed for the global energy transition in commercial quantities but required the cooperation of its workforce to assist in marketing the products and sanitising the sector.
Alake, has said that the Federal Government is employing a dual-pronged approach to combating illegal mining in the country.
Alake spoke at the opening of a two-day ministerial stepdown retreat in Abuja on Saturday.
The theme of the retreat is “Delivering on the Eight Presidential Priorities.”
The retreat is geared towards ensuring that the workers performed their duties diligently in line with the eight presidential priorities of the administration, particularly in unlocking energy and natural resources for sustainable development.
Alake said that the dual approach comprised both coercive and persuasive measures, being concurrently implemented to get the desired result.
He explained that the persuasive method involved formalising artisanal and illegal miners into cooperatives, where they could attract adequate funding and be easily identified for incentives and other interventions.
“Their business will become enhanced and they can attract funding from financial institutions.
“They can increase their profits then government can identify with them and obtain the necessary royalties, taxes and revenue that have been lost before,” he said.
According to the minister, within three months of the policy, no fewer than 70 cooperatives have been established.
He said that part of the coercive approach was the establishment of the Mining Marshal Corp who were recently deployed to the 36 states and the Federal Capital Territory to secure the mining environment.
Alake pointed out that Nigeria has the critical minerals needed for the global energy transition in commercial quantities but required the cooperation of its workforce to assist in marketing the products and sanitising the sector.
He said that the government was marketing its solid minerals to attract foreign direct investment, create jobs, support small and medium-sized companies, and foster sustainable economic development.
He added that it was an opportunity for the workers to engage in fruitful discussions, especially towards the ministry’s seven-point agenda, shared best practices, and identifying innovative strategies to actualise the presidential priorities.
“The importance of delivering on this priority area (energy and natural resources) cannot be over emphasised.
“The Nigerian economy is in dire need of rapid economic growth through the solid mineral sector, given the limitless value this sector can provide.
“I believe with the efforts of everyone in this room, the Nigerian Economy can be positively catalysed,” he said.
The Minister maintained that good character and the right mental capacity were required to achieve the ministry’s seven-point.
