The Nigerian government has announced a new policy that requires all mining companies to establish local processing facilities before they can be granted licenses. This move aims to create jobs, boost the economy, and ensure communities benefit from their natural resources.
Dr. Dele Alake, the Minister of Solid Minerals Development, announced during a meeting with the House Committee on Solid Minerals. He emphasized that the export of raw minerals like lithium and gold will no longer be permitted.
“We are no longer going to license any company that doesn’t have a plan for local value addition,” Minister Alake declared. “Minerals must be processed in Nigeria, creating more value and benefits for the local communities.”
This policy shift is expected to generate significant economic benefits. Processing minerals domestically creates more jobs and retains a larger share of the profits within Nigeria. Local communities will also see increased investment and infrastructure development around mine sites.
Minister Alake also highlighted plans to improve security for the nation’s mineral resources. The government intends to establish a new security force built upon the existing structure of the Nigeria Security and Civil Defence Corps (NSCDC). This force will utilize advanced technology and specialized training to combat illegal mining and theft.
The House Committee on Solid Minerals expressed their support for the Ministry’s initiatives. Chairman Hon. Gaza Gbefwi pledged the committee’s collaboration in crafting necessary legislation to propel the mining sector forward.
This renewed focus on local processing and security positions Nigeria to become a major player in the global minerals market. The country’s abundant resources, coupled with a strategic development plan, hold immense potential for economic diversification and prosperity.
