The Federal Government has restated its commitment to fast-track the development of the mineral processing sector in Nigeria through the cluster approach.
The Minister of Mines and Steel Development, Arch. Olamilekan Adegbite made this known during his welcome address at the Nigeria Day at the 2022 Prospectors & Developers Association of Canada (PDAC) International Convention, Trade Show and Investors Exchange.
Addressing prospective investors, he explained the cluster approach was part of the process of the one pilot project per geopolitical zone, to enhance local content along the mineral value chain.
According to him, each cluster is equipped with modern equipment and technologies to support a network of miners, processors, skills development providers, logistics providers, etc.
Adegbite asserted that the ministry has initiated various reforms to give impetus to its vision of making Nigeria’s natural resources work for Nigeria through shared mining prosperity.
“The roadmap, which was formulated in 2016, gave us a clear policy direction on how to develop the sector, which we have adhered to religiously to unlock the potential in the sector.
“Our mandate is to guide and solicit on your behalf, the creation of a conducive investment climate that will grow the mining sector through the delicate process of value addition to achieve national objectives of employment generation, skills acquisition and economic emancipation. Our discussions at this summit should be addressing the direction of thought as a nation and the imperatives of a long-term plan for the mineral and metals industry in Nigeria.
“It may please you to know that every policy initiated by us has been steeped in global best practices. Transparency has been our watchword and cornerstone upon which the mining industry has been administered, as we continue to foster a culture of openness which will, in turn, engender trust between all stakeholders in the industry,” he said.
Highlighting other steps taken by the ministry to spur and fast-track development in the sector, the minister revealed that the ministry launched we launched the Made in Nigeria barite in Port Harcourt, towards the end of 2021, as part of our modest efforts toward the development of industrial minerals.
He added that the initiative is expected to spur the promotion and growth of local content, boosting the economy with a corresponding increase in revenue.
“The initiative would not only put Nigeria on the radar of the global mining communities but would also save the country about $300million in annual importation costs, thereby creating employment opportunities for the teeming population,” he stated.
Adegbite added that the ministry will also commission an open marketplace portal that will connect all stakeholders along the barite value chain to a hub that allows for easy coordination, stocking, effective costing, and seamless sale of barite, as everyone adheres to the ease of doing business initiative.
