The Federal Government has said Nigeria’s capital market will play a central role in bridging the huge financing gap hindering the growth of the country’s solid minerals sector.
Speaking at a webinar organised by NASD PLC and the Solid Minerals Development Fund (SMDF) on “Understanding the Mining Asset Development Cyle, Amira Adamu Waziri, Senior Adviser on Mining and Policy, delivered remarks on behalf of Dele Alake, Minister of Solid Minerals Development.
She noted that despite Nigeria’s endowment of over 44 commercially-viable minerals across all six geopolitical zones, the sector contributes less than 1% to GDP, largely due to inadequate data, weak infrastructure, illegal mining, and poor access to finance.
According to her, the Ministry’s 7-point agenda aims to reposition mining as a major driver of economic transformation.
The plans, she said, include “establishing the Nigeria Solid Minerals Company, partly owned by the government, private sector, and Nigerian citizens through the stock exchange, deploying Mines Marshalls in collaboration with security agencies to combat illegal mining and comprehensive geological data acquisition to de-risk investments.”
Others, she said, include the formalisation of artisanal and small-scale mining, promotion of local value addition and processing, investor-friendly reforms to attract large-scale investments and strong stakeholder engagement with communities, financiers, and development partners.
Waziri stressed that mobilising long-term capital through the stock exchange would help exploration firms and junior miners raise funds, while enabling securitisation of geological assets and channeling institutional capital into processing hubs.
“The Honourable Minister believes this webinar marks the beginning of a broader national conversation on using structured capital to unlock Nigeria’s mineral wealth,” she said, adding that inclusive partnerships and strict governance remain top priorities.
Alake reiterated that Nigeria is on the threshold of a mining renaissance, driven by political will, resources, and collaboration with the private sector.
In his presentation entitled, “Licencing Processes and Requirements of a Mining Asset”, Obadiah Nkom, Director-General, Mining Cadaster Office, NMCO defined mining assets as both physical and intangible asset own and used by mining companies in their operations to extract valuable and other minerals from the earth.
Nkom noted that licensing is crucial to mining assets because it is the backbone of production, adds financial value and aids operation efficiency among others.
At the close of the NASD–SMDF webinar Solid Minerals Development Fund (SMDF) expressed appreciation to speakers, stakeholders, and participants, while stressing the importance of capital market involvement in Nigeria’s mining sector.
Fatima Umaru Shinkafi, Executive Secretary, Solid Minerals Development Fund, represented by her aide, Omotayo Omitokun, said: “Today’s conversations have shed light on critical elements of the mining asset development cycle.
She said that the insights are vital as we work to deepen capital market participation and unlock the true value of our mineral resources.
Jon O Callaghan, in his presentation, noted that mining is capital intensive operation spanning reconnaissance, prospecting, exploration, resource definitions, feasibility and economic evaluation, financing and development as well as Mining and Production
Meanwhile Dele Ayanleke, President Miners Association, raised concerns on the ‘Use it or Lose it’ Principle operated by the Mining Cadaster Office, noting the security situation that sometimes impedes miners access to their mining sites.
