Time for Nigeria to focus on solid minerals sector

Nigeria’s solid mineral sector, which was once crucial to the nation’s economy, lost that recognition immediately the nation found oil.

But, with the decreasing oil revenue, the President Bola Tinubu-led administration is revitalising the solid mineral sector and developing its infrastructure to attract foreign investments.

According to the Minister of Solid Minerals Development, Dr Dele Alake, the sector is being repositioned as a major driver of the nation’s economic growth.

As the minister strives toward achieving this goal, critical stakeholders in the industry have emphasised the need to sustain the efforts to meet the goal of diversifying the economy.

One such stakeholder, Mr Mikali Mumuni, believes that the sector has the potential to significantly create wealth and numerous employment opportunities.

Mumini, the Managing Director of Miners Communication Limited, publishers of Miner Magazine, says that the sector is “too good to be ignored”.

“Today, it is dawning upon us that we can no longer depend solely on oil because of the vagaries of international oil market.

“It has become obvious that Nigeria is now earning less and less income from oil.

“Apparently, this is the reason why successive governments have been talking of diversifying the nation’s economic base.

“One of the easiest and surest way to do this is to refocus attention on the solid minerals sector.

“The sector has the highest capacity to create multiple employment opportunities for our teeming population, particularly the youth.

“Basically, the solid mineral sector has been long neglected because of the discovery of oil which made some public policy analysts argued that oil made the nation lazy.

“The reality is dawning on the nation that the holiday is over. It is time to face the reality,” he told newsmen recently.

Mr Abidoye Abiosun, Marketing Director of Miners Communication, while corroborating Mumini, identified lithium as one solid mineral that had gained global focus.

“From what I observed, the Nigerian government is prioritising the expansion and development of its lithium resources in the country.

“The idea is to generate power without polluting the environment.

“To the best of my knowledge, lithium is the major focus in the whole world and that is why, I think, the Nigerian government is really focusing attention on its expansion and development.

“When you are looking at the area of power generation without polluting the air, creating nuisance and ecological hazard, lithium is the safest,” he said.

Abiosun speaks further on the solid mineral.

“Lithium is also the mineral resource crucial to the production of battery used in the generation of solar energy and other similar products.

“With records showing that Nigeria has a very large deposit of lithium, it should be annexed, properly looked into, and tapped so that it would be a ready-made replacement and alternative to oil.

“Lithium is a versatile element with various applications. Lithium-ion batteries power electric vehicles, mobile devices and renewable energy systems.

“This is due to their high energy density and long lifespan.

“Lithium carbonate is used as a medication to treat bipolar disorder, depression and anxiety disorders.

“Lithium is also used in nuclear reactors as a neutron absorber and in nuclear fusion research.

“Lithium oxide is used to produce specialised glass and ceramics with unique properties. Lithium-based lubricants are used in industrial applications due to their high performance and resistance to extreme temperatures.

“It has long been established that lithium-ion batteries have a high energy-to-weight ratio, making them ideal for portable electronics and electric vehicles.

“This is just as lithium-ion batteries can be charged and discharged many times without losing capacity.

“Lithium carbonate also helps stabilise mood and reduce symptoms of mental health conditions.

“Lithium’s ability to absorb neutrons makes it useful in nuclear applications.

“Lithium-based materials have high thermal resistance, making them suitable for extreme temperature applications,” he explained.

Expectedly, stakeholders have lauded government’s efforts in taking steps to reactivate mining licences and address security concerns so as to make the sector more attractive to investors.

They note that Alake has launched the mineral resources database through which anybody that is interested in investing in solid minerals could access information on which part of the country he or she could get a particular mineral or the other.

The minister said recently that investors could express interest where such lies.

The government has also created the Mining Marshall to make the different mining sites safer for investors as well as miners.

Just recently, President Bola Tinubu gave a matching order to the armed forces to redouble their efforts at curbing illegal mining.

“This, to me, is a great assurance to investors in the mining sector,” Mumuni said.

For Abiosun, the renewed interest on the mineral resources sector by Alake and the Federal Government is commendable and must be supported.

“I think it is a very good step in the right direction,” Abiosun says.

Analysts have, however, said that there is the need to review mining licences as many had been issued but not activated.

“If the government is looking at generating employment through solid mineral and mineral resources in the country, all the mining licence that have been given out, need to be activated.

“Serious investors need to invest in the sector, start action and, at the end of the day, the unemployment rate in the country would have decreased.

“We look at majority of our youths that are at home unemployed; they will have areas in which they can be useful at the mining sites and other activities that are associated with mining in the country.

“I think the Federal Government is taking the right step in the right direction,” Abiosun says.

Stakeholders have also emphasised the need for specialised media coverage to promote and support the growth of the sector.

Mumini emphasises this.

“As journalists, it is our duty to ensure that we do not lower the bar of reportage of the sector.

“This is what forced some of us to come up with the idea of the Miners Communication outfit under which we currently have a monthly news magazine solely devoted to reporting the solid mineral sector.

“It is the only magazine that is doing that in the country. We have taken the lead and we are determined to consistently do this by highlighting the diverse and vast opportunities that abound in the sector,” Mumuni says.

Abiosun notes further: “This is an aspect of journalism that has not been looked into.

“The area is a growing sector and it is a genre that we need to encourage just the way the Nigerian government is trying to encourage the mineral resources industry.”

By Kamal Tayo Oropo