As the federal government is working towards economic diversification, stakeholders in the solid minerals development have expressed support for the $10 trillion solid minerals sector investment target in Nigeria.
The stakeholders said President Bola Ahmed Tinubu’s vision for the sector and the patriotic zeal of the Minister of Solid Minerals Development, Dr. Dele Alake, had repositioned the sector.
Nigeria’s solid minerals deposit and value chain is worth over $10 trillion, and that, if fully explored, could overtake oil revenue and create millions of jobs for our teeming youth.
This was made known by Alhaji Mohammed Abba Liman, who spoke on behalf of the Nigerian delegates from both public and private sectors that participated in the third edition of Saudi Arabia’s Future Minerals Forum (FMF) held in Riyadh from January 9 to 11, 2024.
Saudi Arabian Minister of Industry and Mineral Resources, Bandar AlKhorayef, hosted the FMF event.
Liman, business man with big stakes in the mining sector, said that, “The forum which brought together over 80 countries with solid minerals deposit, was a huge platform where Nigeria showcased its massive economic and investment opportunities in the solid minerals sector, government’s strategic plan and where government wooed foreign investors and partners into our market, which is the biggest in Africa”, he said.
The delegates commended the minister, Dr. Alake, “for making Nigeria proud with his vision and articulation of government’s strategic plan which targets local and global investment market at Riyadh for the huge deposit of solid minerals in the country”.
Liman described the minister as a “visionary and result-driven manager who has successfully put Nigeria on the global map of solid minerals investment market thereby attracting investors coming to Nigeria to invest huge amount of money in our economy.
“The minister has transformed and repositioned the solid minerals sector within a short period of time. He understands the sector so well, he has been mobilising local and international stakeholders and partners for this purpose and we are so happy and proud of him.”
He added that it was high time solid minerals became the mainstay of Nigeria’s economy, noting that, revenue generated from lithium deposit in Nigeria alone can overtake oil.
“All vehicles using fuel can convert to using e-battery produced with lithium. Just imagine the benefits of that alone to our economy, not to talk about gold, leads, tin, iron ore, name them,” he said.