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…demand local processing, cheaper loans, stronger security
Stakeholders in Nigeria’s mining sector have called for an end to raw gemstone exports, improved security and affordable financing to unlock the industry’s potential and attract investment.
They made the call at the ongoing 11th Nigeria Mining Week in Abuja, stressing the need for local processing, skills development, modern technology and stronger partnerships to boost revenue and create jobs.
The Country Manager of Adelia, Segun Okoh, advocated gemstone processing clusters that bring mining, grading, cutting and jewellery production together.
Citing Tanzania’s experience, Okoh said the model would reduce costs, create jobs and enable mining communities to benefit from the entire value chain.
He also called for structured skills development, standardised quality control, financial literacy and entrepreneurial training to help skilled Nigerians establish businesses.
Similarly, the Chief Executive Officer of Laurel School of Mines, Tope Adebanjo, lamented that Nigeria continued to export gemstones in their raw form instead of processing them locally.
Adebanjo, whose institution was established in 2013 to develop entrepreneurs in gemstone and jewellery production, identified gemstone treatment, enhancement, evaluation and jewellery making as critical areas requiring investment.
He urged the government to support local entrepreneurs to transform mineral resources into finished products.
The President of the Gemstones Miners and Marketers Association of Nigeria, Engineer Adeniran Ajibade, called for sustained training, improved branding and better access to local and international markets.
Ajibade also proposed an international gemstone buying centre in Nigeria to attract buyers and improve returns for local miners. He stressed the need to organise artisanal miners into cooperatives, improve environmental compliance and strengthen small-scale operators.
On investment challenges, Exploration Manager at JFR Gold, Kieran Harrington, said Nigeria had enormous gold mining potential but continued to attract limited international investment.
He identified insecurity as a major factor discouraging foreign investors, although he said some security concerns were overstated.
Harrington urged the government to sustain its support for the sector and intensify efforts to attract international investors, particularly in gold exploration and production.
The Sales Manager of Mecano Motors Division, Mecano International Limited, Michael Adekoya, called for affordable financing to enable miners to acquire essential equipment.
He said high interest rates had discouraged customers, urging the government to engage banks on more favourable lending terms.
The Deputy Managing Director of Rapid Link Resources Limited, Enema Samson, said the company supported mineral exploration through geological surveys, drilling and laboratory analysis.
He emphasised the need for modern technology and local expertise, noting that the company was wholly Nigerian-owned.
On illegal mining, a representative of Segilola Resources Operating Limited, Maduri Saka Amoda, called for stronger collaboration among government, investors and host communities.
She said community sensitisation had helped reduce illegal mining activities, adding that Nigerians accounted for 99 per cent of the company’s workforce.
Meanwhile, the Permanent Secretary of the Taraba State Bureau for Solid Minerals, Matai David Anji, disclosed that the state had about 16 mining licences covering minerals such as gold, lithium, sapphire, tourmaline and copper ore.
He said the state was seeking investors for joint ventures to develop its mineral resources.
Anji explained that mining activities had been suspended in Taraba because of insecurity and other challenges, adding that the government was working to formalise artisanal mining and attract responsible investors.
The stakeholders maintained that local processing, skills development, improved security, affordable financing and stronger public-private partnerships were critical to expanding Nigeria’s mining industry and ensuring greater economic benefits from its mineral resources.
