A Nigerian miner has urged the Federal Government to review regulations in the mining sector to create a more conducive environment for indigenous operators to function without hindrance.
The Managing Director and Chief Operating Officer, Dr. Kabir Hassan Yar’Adua, made the call while speaking to journalists on the need for government to create an enabling environment for Nigerians to actively participate in the mining industry.
Dr. Yar’Adua said once a favourable regulatory framework is put in place, more investors would be encouraged to invest in the sector.
He noted that the mining sector has vast potential comparable to, if not greater than, the oil sector.
He recalled that the Federal Government has been advocating diversification from oil to mining to reduce overdependence on crude oil and strengthen the non-oil sector for economic growth.
According to him, many young Nigerian entrepreneurs are willing to venture into mining but are discouraged by cumbersome and demanding regulations.
Dr. Yar’Adua explained that obtaining and maintaining mining licences in Nigeria has become difficult, especially for young miners, and urged government to provide more regulatory flexibility to help the sector grow and become as functional as the oil industry.
He added that companies such as Nichi Mines have domesticated their operations in Africa, harnessing nearly 120,000 tonnes of lithium monthly for major battery producers, creating opportunities to develop Nigeria’s lithium, rutile, fluoride, and other mineral value chains.
Dr. Yar’Adua further disclosed that his company has entered joint ventures with about five state governments for mining activities, creating jobs and boosting economic sustainability in states such as Bauchi, Benue, Nasarawa, and Kaduna.
He said other states, including Kebbi, Kogi, Kwara, and Cross River, are expected to join, noting that such partnerships would generate employment opportunities for Nigerian youths.
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