Nigeria's Minister of Solid Minerals Development, Dr. Dele Alake, has emphasized that the capital market is indispensable to the nation's push for sustainable mining. Speaking at a webinar on Wednesday, the Minister, represented by his Senior Adviser on Mining and Policy, Amira Adamu Waziri, said that the capital market offers a pathway for mobilizing the substantial, long-term financing necessary to transform the sector.
The webinar, titled "Unlocking Nigeria's Solid Minerals Potentials Through the Capital Market," was jointly organized by the Solid Minerals Development Fund (SMDF) and NASD Plc. The event provided a platform for industry experts and stakeholders to explore innovative funding models. According to The Guardian Nigeria, Minister Alake noted that despite the country being endowed with over 44 commercially viable minerals, the sector contributes less than one percent to the nation's GDP. He identified a significant financing gap, along with weak infrastructure and insufficient geological data, as major reasons for this underperformance.
Alake's remarks, as reported by Vanguard News, highlighted that the capital market can serve as a channel for "patient, long-term, and strategic investment" in the mining value chain. He explained that it could support junior mining companies in raising capital, facilitate the securitization of geological assets, and direct institutional funds toward critical infrastructure and processing hubs. The Minister stated that this strategic approach is a key part of the Ministry's seven-point agenda, which aims to create a commercially-driven Nigerian Solid Minerals Company, establish Mines Marshalls to combat illegal mining, and accelerate the acquisition of comprehensive geological data.
According to a report from ThisDayLive, the Minister emphasized the need for transparent licensing, governance, and digital reforms to reduce investor risk. He said the Ministry is committed to fostering an environment where investor confidence can thrive. Alake's representative reiterated that the Ministry is actively seeking partnerships and is open to ideas that advance the collective good of the industry, stressing that this includes continuous dialogue with host communities to ensure they benefit from mining activities. The Minister concluded that while Nigeria has the mineral resources and political will, what is now required is the capital, technology, and partnerships to truly unlock the sector's immense potential.