The federal government says Nigeria is repositioning its solid minerals sector to move beyond the extraction and export of raw minerals, urging investors to support projects that promote local processing, manufacturing, and value addition.
Dele Alake, minister of solid minerals development, spoke on
Thursday in Abuja at a press briefing ahead of the maiden ‘Nigeria NOW Global
Investors’ expo 2026.
Alake was represented by Obadiah Nkom, director-general of
the Mining Cadastre Office (MCO), an agency under the ministry.
He said the ministry’s strategy is to build a mining
industry that creates jobs, supports industrialisation and strengthens linkages
with other productive sectors of the economy.
“The ministry’s approach is to move the sector from simple
extraction and export of raw minerals towards a system that supports
processing, manufacturing, employment and stronger linkages with other parts of
the economy,” he said.
“This requires patient capital, technical expertise, modern
equipment and partnerships that recognise both commercial interests and
Nigeria’s development priorities.
“It also requires investors who are prepared to comply with
the law, protect host communities and the environment, and maintain transparent
relationships with government and other stakeholders.”
The minister said the success of the mining sector depends
on coordinated investments across power, transport, finance, and
infrastructure, noting that mining projects cannot thrive in isolation.
“A mine cannot operate effectively without reliable power,
roads, railways, processing facilities, access to financing and predictable
regulation,” he said.
“In the same way, industrial development depends on a steady
supply of raw materials, effective logistics and markets that can support
production.”
‘NIGERIA NOW EXPO WILL CONNECT INVESTORS WITH BANKABLE
PROJECTS’
Alake said the expo, scheduled for November 19 to November
20 in Abuja, will provide a platform for investors to engage directly with
government institutions on bankable projects and policy reforms.
According to the minister, the forum will also enable
stakeholders to discuss key investment bottlenecks, including infrastructure
deficits, licensing, financing, technology, security, and market access.
He said the participation of the ministries of industry,
trade and investment, power, and petroleum resources reflects the
interconnected nature of economic development.
“The Expo covers areas that fall across several mandates,
and no single ministry can address them in isolation,” he said.
The minister also stressed the importance of state
governments in attracting investment, noting that mineral resources are located
within states and host communities.
“Strong coordination among the federal government, state,
investors and host communities is necessary to avoid delays, reduce disputes
and create benefits that are widely shared,” he said.
Alake assured investors that the federal government remains
committed to improving coordination among public institutions and creating a
predictable investment environment.
“I therefore invite investors, project developers, financial
institutions, technology companies, professional bodies, development partners
and interested stakeholders to participate actively in the preparations and the
Expo itself,” he said.
On his part, Abdoulaye Sylla, portfolio manager and head of
corporate development at EnergyNet, organisers of the event, said Nigeria has
struggled to attract foreign direct investment (FDI) commensurate with the size
of its economy despite its enormous investment potential.
“For the past 15 years, Nigeria has been unable to attract
foreign direct investment that matches the scale of the opportunities the
country offers,” Sylla said.
He said the expo is designed to become the country’s
flagship annual investment platform, bringing together government institutions,
investors, development finance institutions (DFIs), technology providers and
project developers around bankable projects.
“Nigeria is ready for a new approach to attracting global
investment. Nigeria NOW is designed to become the annual platform that brings
together all the key stakeholders required to accelerate investment and project
delivery across strategic sectors,” he said.
Sylla also said the event would feature a youth summit
focused on connecting young Nigerians with opportunities emerging from the
country’s economic transformation.
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