Nigeria's mineral sector is overdue for development. Several leaders in the time past have one way or the other come up with diverse policies and agenda to strengthens the sector. It is no longer news that the defunct Ministry of Mines and Steel Development has been split into the Ministry of Solid Minerals Development, and the Ministry of Steel Development. I think kudos should be given to the present government of Nigeria for an immediate split of the Ministry and action plans towards growth of the sector.
Recently released was the 7-point agenda of the newly appointed Minister of Solid Mineral Development Mr Dele Alake. His submission focused on inefficient geo-data, weak implementation and enforcement, poor environmental, safety, and health policies, fragility and conflict, unregulated artisanal mining, low technical capacity, lack of access to financing, weak inter-governmental and inter-agency coordination, and weak federal/state relationship.
Honestly, I think these points stands are very important if thoroughly addressed.
NB
For this article, I will address 2 of these points and further explain more in other articles to come.
In my view these 7-point agenda should be addressed as follows:
PLANS TO IMPROVE IN GEO-DATA
It's so inundating to find out that geo-data is either not correct or not sufficient. These data insufficiency has been one of the major reason why the sector still beg for improvement. A recent report from KPMG pointed out that there had not been enough and deliberate funding or resources to improve geo-data in the industry. KPMG further stated that the industry would have grown if resources were also allocated just like the oil and gas, there would have been a meaningful solid mineral sector in the country. What is attainable in the oil and gas industry is that whoever is interested in oil and gas simply goes to the institutions responsible for paying a nonrefundable fee to get accurate data before going into the business. The latest agenda to look into geo-data me would be the right step in the right direction. This will no doubt attract investors, generate revenue, and stabilize the industry. I also believe that incentivizing along with this move, will encourage foreign investors. Kudos to the federal government on this development to come.
WEAK IMPLEMENTATION AND ENFORCEMENT
Weak implementation of the policy has also been a major setback to previous agendas in the sector. Previous ministers have come up with beautiful ideas, some even inaugurated different committees to see into various policies that eventually didn't work. These have been traced to weak implementation of plans. Not long ago was plan to revive Ajaokuta surfaced and several ideas were put together to revive Ajaokuta Steel. 2012 was a year that would not quickly be forgotten when points were raised to improve the sector and bring back the idea behind Ajaokuta. Weak implementation and political reason we're the reasons why the plans were not achieved. Today similar thing could happen if the goals to make Solid Mineral boost our GDP are not well followed to letters. These goals should be SMART (Simple, Measurable, Accurate, Reliable and Time-bound) enough to be bring the required change.
To be Continued…………
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