Frank Aigbogun, the publisher BusinessDay Media Limited, has expressed optimism that Nigeria’s solid minerals sector will become the next economic powerhouse, rivalling the significance of crude oil.
Aigbogun, who stated this at the ongoing BusinessDay Solid Minerals conference in Abuja with the theme Digging Deeper: Diversifying Nigeria’s Economy for Wealth Creation, noted that Nigeria’s dependence on crude oil must dwindle for the solid minerals sector to thrive.
The publisher added that the Federal Government must also demonstrate strong political will to address the menace of illegal mining, which has hitherto stopped the sector from contributing meaningfully to the nation’s revenue.
According to him, a secure and enabling environment will attract investors into the sector, especially to communities where such resources abound.
“These are areas that are full of potential; let me tell you, in those days, you can go in there and mine; even if you are alone, nobody will attack you,” Aigbogun said.
“If the government is to derive revenue from those resources, it has to take security seriously to protect the people and their investments and to attract more investors to come into mining.”
According to him, “In finding solace for the economy of Nigeria, we must begin to think towards harnessing the great potentials in the solid minerals sector to boost the nation’s economy.
“We engage the government and private sector in a period of solid minerals to deliver huge results that we see around the world.
“We have people who are facilitating transactions and of course, we have those who are watching as well. Just to ensure that as we grow and expand the mining sector, the solid mineral sector in Nigeria and get it ready for significant inward investment, we are also looking after the people, the communities that are the host communities for many of the minerals that we’re talking about.
“I have no doubt, especially given the huge potentials in the solid minerals sector—the ones that we have seen already and the ones that I believe will be discovered in the months and years ahead.
“At Businessday, we pride ourselves on the work that we do, engaging with government and the private sector for the full benefit of the economy of Nigeria. That is why we have put this together to enable stakeholders to brainstorm.
“We have set the stage for what I believe would be a very successful, productive conversation and dialogue here today.”
He also expressed confidence in Dele Alake, the minister of solid mineral development, and the Bola Tinubu-led administration.
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