Nigeria secures UN-backed study on critical minerals roadmap at Mining Indaba

Nigeria’s solid minerals sector has received a significant boost as the Global Council for Critical Minerals, a specialized organ of the United Nations’ Sustainable Energy for All (SEforALL), has committed to funding a study to develop a roadmap for the country’s critical minerals value chain.

The initiative, secured by Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, on the sidelines of the ongoing Mining Indaba in Cape Town, will focus on optimizing Nigeria’s mineral resources from extraction to beneficiation.

The study will be conducted by UC Davis with support from Core International and is expected to establish international best practices for resource utilization.

One of the anticipated outcomes of the study is the development of a local industrial sector for solar power production, reducing Nigeria’s reliance on imported solar products and potentially saving foreign exchange.

During a discussion with Divyam Nagpal, Principal Specialist for Renewable Energy at SEforALL, Dr. Alake expressed appreciation for the initiative, emphasizing Nigeria’s ambition to localize solar power production.

“Since we have the materials for solar power production, we should vigorously pursue policies that stop the importation of solar products and encourage local manufacturing. Nigeria has a vast market, and many of the products already serve the West African sub-region,” he stated.

Dr. Alake also highlighted President Bola Tinubu’s administration’s efforts in reforming the mining sector, assuring the UN agency of Nigeria’s investor-friendly environment.

He noted that a new security framework is being established to safeguard both investors and mining communities, alongside a revised Community Development Agreement (CDA) to ensure local communities benefit from mineral exploitation.

“If investors operate in an unfettered environment, their profit margins will increase, leading to higher royalty payments and greater economic contributions to the government,” he added.

In his briefing, Mr. Nagpal emphasized that the critical minerals roadmap would aid Nigeria’s policy formulation and drive the growth of the sector.

He also extended an invitation to Dr. Alake to attend the Sustainable Energy for All Programme in Barbados later this year, themed “Sustainable Energy for Equity, Security, and Prosperity.”

The Barbados event is expected to convene global leaders from government, business, and finance to discuss solutions to interconnected challenges in energy, climate, and economic development.

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