The Federal Government has called for stronger collaboration with the private sector to unlock the full potential of Nigeria’s vast mineral resources and position the solid minerals sector as a major driver of economic growth.
According to our reporter, the Permanent Secretary of the Ministry of Solid Minerals Development, Faruk Yabo, made this known while declaring open the 4th International Conference and Exhibition of the Nigerian Society of Economic Geologists in Abuja.
Yabo, represented by Deputy Director of Artisanal and Small-Scale Mining, Maroof Adeyemi, emphasized that deeper private sector participation is crucial to promoting innovation, job creation, and industrialization in Nigeria’s mining industry.
He revealed that the government is finalizing plans to establish a National Mining Corporation, to be known as the Nigeria Solid Minerals Company, a special-purpose vehicle designed to attract private investment and manage joint ventures within the sector.
“We are deploying modern technologies, including satellite monitoring systems, to curb illegal mining and promote sustainable practices,” Yabo said. “Only stronger collaboration with the private sector can accelerate our goal of making Nigeria’s mining industry globally competitive.”
He further disclosed that the National Assembly is working on a legislative framework to support this initiative, which aligns with President Tinubu’s broader reforms aimed at revitalizing the solid minerals sector as a key pillar of economic diversification.
With over 44 commercially viable mineral types across more than 500 locations nationwide, Yabo stressed the importance of responsible resource development, adding that mining must balance profitability with environmental protection and community welfare.
“The future of mining is not just about discovery,” he concluded, *“but about ensuring that exploration benefits both the economy and the peopl
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