National Mining Summit
"WE CAN BUILD A MINING SECTOR THAT NIGERIANS CAN BE PROUD OF 30 YEARS OR MORE FROM NOW. THIS SECTOR SHOULD DELIVER DOUBLE DIGIT GROWTH OVER THE NEXT DECADE WITH IMPORTANT DIRECT AND INDIRECT ECONOMIC IMPACTS ON HOUSEHOLDS"
Minister Kayode Fayemi, Ministry for Mines and Steel Development
On 31 March 2016, the Nigerian government launched the Solid Minerals Roadmap to detail the growth and development of the Nigerian Mining Industry. The successful exploration and exploitation of its mineral resources has been prioritised as the next frontier of opportunity for development in Nigeria. The government aspires to build a world class minerals and mining ecosystem designed to serve a targeted domestic and export market for minerals and ores. And with the recently announced mining sector Fund of $500 million and accompanying improvement of the investment environment – there has never been a better time to engage in the Nigerian Mining Space.
1. The government anticipates contribution to mining GDP to exceed $25 billion by 2026 as industries are better able to use the output of the sector,
2. The government has designated a number of strategic minerals that it believed had the potential to make a significant contribution to Nigeria’s economic development. These include: Barite, Gold, Bitumen, Iron ore, Lead/Zinc, Coal, Limestone.
3. A favourable climate for business and industrial ventures has been created by Government. Administrative and bureaucratic procedures have been greatly streamlined. The Government has put in place policies and programmes
Dr Kayode Fayemi - Minister for Mines and Steel, letter of Endorsement