6th Edition Of The Nigerian Mining Week At The International Conference Centre, Abuja

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ADDRESS BY HIS EXCELLENCY, MUHAMMADU BUHARI, GCFR, PRESIDENT OF THE FEDERAL REPUBLIC OF NIGERIA, DELIVERED BY HIS EXCELLENCY, PROF. YEMI OSINBAJO, SAN, GCON, VICE PRESIDENT OF THE FEDERAL REPUBLIC OF NIGERIA, AT THE OPENING CEREMONY OF THE 6TH EDITION OF THE NIGERIAN MINING WEEK, AT THE INTERNATIONAL CONFERENCE CENTER, ABUJA ON THE 1ST NOVEMBER 2022,

PROTOCOLS

I am pleased to join you all at this opening ceremony of the 6th Edition of the Nigerian Mining Week. I bring you the very warm felicitations of President Muhammadu Buhari who would have liked to be here himself but as you know, he is currently out of the country.

I must say that the organisers of the mining week, the Miners Association of Nigeria, PwC and our host, the Ministry of Mines and Steel Development, deserve our commendation for so faithfully organizing this event in the last 6 years. In fact, the last two years virtually.

Year after year, you have outdone yourselves by showcasing Nigeria’s mineral assets and its dynamic mining ecosystem to potential local and international investors. Well done indeed.

I must also say that this event is a very significant complement to our vision and sustained effort to accelerate the growth of the mining sector as a major contributor to Nigeria’s economic diversification programme. But we all know that the mining sector has always needed a transformational leap to contribute meaningfully to the envisioned economic growth of the country because despite the glorious contribution of the mining sector to our national economy in the past, and the abundance of mineral resources found in almost every State of the Federation, the growth of the sector stagnated for many years, especially since the early 1970s. And there have been many notable contributions and efforts by previous administrations to wake the sleeping giant that is the Nigerian mining industry up.

But at the beginning of our administration in 2015, we intentionally prioritised the development of the country’s mineral resources as one of the frontiers for economic growth. This led to the comprehensive Roadmap for the Growth and Development of the Nigerian Mining Sector and we have steadily followed the steps set out in the roadmap. So far, we can say without fear of contradiction that this administration has committed more resources to the development of the mining sector than any other government in the history of our country.

And we are proud that the indices of development in the sector are rapidly changing. Part of these are the increased revenue generation and of course the unprecedented investment interest that the industry has attracted in the past few years.

Nigeria, for the first time, has a world-class gold mine in Segilola, Osun State, operated by Thor Exploration. Also, Eta Zuma Mining and Industries Limited and Mosra Enerji, are mining and supplying the coal needs of Dangote and Bua Cement factories.

In the steel industry, African Natural Resources and Mines Limited, owners of the Kagarko Integrated Steel plant, are about to produce liquid steel from its Iron ore mine in Kaduna State. Several other investors are at different stages of mine development in various parts of the country, and these strategic milestones will hopefully catalyse more mining investment in the country.

I firmly believe that the sector, when fully developed, will outstrip other sectors of the economy in export earnings, and the creation of good paying jobs and opportunities.

Besides, it will stimulate industrial growth as a local source of raw materials and improve the quality of lives in rural communities. Again, we must commend the efforts of the Ministry of Mines and Steel Development and other stakeholders in providing a conducive environment for investment.

Some of the thematic activities that have been delivered include:
1. As we have heard, the deployment of a digital application at the Mining Cadastre Office, Abuja, and its offices in the six geo-political zones of the country for the grant and administration of mining titles (and by the way I will have the privilege of commissioning this online innovation, the Electronic Mining Cadastre Plus, today).

2. Of great interest also is the escalation of geological information gathering, data storage and dissemination. This has led to increased mineral finds across the country and the issuance of exploration licenses to miners. We must also appreciate the return of the geological data generated in Nigeria during the pre-independence era by the British Geological Survey Agency. The availability of these data in the recently established National Geodata Center at the Nigerian Geological Survey Agency is a big boost to the sector.

3. The organisation of informal miners into productive work groups is another landmark activity. The Ministry has increased the formalisation of mining activities and stimulated downstream development by the establishment of a gemstones and Jewellery Marketing Centre in Oyo State; Gold Ore processing plant in Kogi State; a Gold Souk in Kano State; the construction of a Barite plant in Cross River State; Kaoline plant in Bauchi State; and a Lead/Zinc processing plant in Ebonyi State.

The aim of these clusters is to provide direct and indirect economic opportunities for many Nigerians.

The development of the steel sector is still a huge priority of our administration. Our vision for an industrialized nation cannot be achieved without a vibrant steel sector. We understand the huge demand for steel and iron in our domestic markets and across the sub-region. This is why we prioritized the resolution of all the issues constraining the full operation of the Ajaokuta Steel Company.

To this end, a transaction adviser has been appointed to concession the Ajaokuta Steel Company and the Nigerian Iron Ore Mining Company, Itakpe. The selection process is going on and our commitment is to break what appears to be a jinx on Ajaokuta Steel Company and actualise the dream of a vibrant steel sector.

Excellencies, distinguished guests, we must reiterate our responsibilities both as public and private sector entities for the issues of sustainable development and climate change. The extraction of mineral commodities entails considerable impact on land, water, air and other environmental assets that are central to human living both now and in the future.

The painful experience of the negative impact of oil exploration in the Niger Delta cannot be ignored. Therefore, all operators in the mining sector are obliged by law and ethics, and our responsibility for the future, to ensure that proper environmental, social and governance principles are practiced in the sector.

On our part, the government will continue to intensify its regulatory and supervisory role in ensuring that mining is held to the highest standards of sustainable development and intergenerational equity.

On a brighter note, it is now well known that the global energy systems are transiting to clean energy to reduce greenhouse gas emissions. These massive changes will increase the demand for critical minerals for clean energy generation. And leveraging on the opportunities emerging from the market potential for these minerals, government is encouraging the intensification of the exploration of these critical minerals. The investment community is also invited to participate in the mining and processing of minerals along the entire value chain of this emerging opportunity.

Let me then thank you all again for making the time to attend this 6th Edition of the Nigerian Mining Week and assure you of the commitment of the government of the Federation of Nigeria to support mining activities towards the shared prosperity for the Nigerian people.

It is now my special pleasure and privilege to declare this conference, the 6th Edition of the Nigerian Mining Week, open. I wish you all a highly rewarding engagement.

Thank you very much.