Nigeria Presents Reforms at Mining Week 2024

Nigeria's recent National Mining Week conference emphasized government efforts to revitalize the mining sector and position the country as a global mining hub. Minister of Solid Minerals Development, Dr. Dele Alake, highlighted significant reforms, including the establishment of the Nigeria Solid Minerals Corporation, aimed at enhancing investment and international collaboration. The government is implementing measures to combat illegal mining, resulting in over 300 arrests and the formation of 250 artisanal mining cooperatives to promote formalization. President Bola Tinubu praised the mining sector's potential for economic growth and reiterated the administration's commitment to transparency and environmental sustainability. With rich mineral deposits and new regulations requiring local processing, Nigeria aims to maximize its resource potential and create jobs. Continued investment in technology and enforcement is essential to address illegal exploitation and improve local revenue generation.