LAGOS, Nigeria (VOICE OF NAIJA)–Minister of Solid Minerals Development, Dr. Oladele Alake says that President Bola Ahmed Tinubu has committed to making solid minerals a key parts of Nigeria’s economy as global oil fortunes decline.
He announced this in Abuja during the launch of the Nigerian Minerals Resource Decision Support System (NMRDSS), a platform designed to improve communication and accessibility in the mining sector.
Alake stated that the administration’s main objective is to significantly increase the solid mineral sector’s contribution to Nigeria’s gross domestic product, aiming to surpass the revenue currently generated from oil.
He said: “Globally oil is dwindling. Minerals are rising and by the grace of God at the end of the gestation period of all our policy initiatives when the results begin to manifest across board. Nigeria will begin to grow, move on the Renewed Hope Agenda of Mr President, which is coming up to one year in a few weeks to come.”
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Unveiling the Nigerian Minerals Resource Decision Support System (NMRDSS), the minister emphasized the need for Nigeria to shift its focus from oil to solid minerals.
He noted that investors in the sector often face challenges accessing adequate information, which the new platform aims to address by enhancing technological communication and accessibility in the mining sector.
The minister stated that once fully operational, the platform would reduce the cost of investment research in the sector and provide all the necessary information to help prospective investors make well-informed decisions.
According to him, the system “seeks to cut the cost of investment research. Hitherto, many prospective investors physically travel to Nigeria to collect data on the geology, hydrology and even urban geography of the mining business. Today, we record a giant leap in investment prospecting.
“From the comfort of your office anywhere in the world, you can click the website of the Nigerian Minerals Resource Decision Support System and right before your eyes are the data that would have cost you air tickets to access six months ago.
The significance of this software in easing business operations in the mining sector is clear. In addition to reducing expensive travel and lodging costs, it simplifies access to information, overcoming the complex data silos that have long been a challenge for investors.
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“It answers the question bothering any investor in the mines: Is there labour to employ? Is there a river or stream that I can use its water for processing? Is there a network of roads to haul my excavated materials to the factory?
“This NMDSS answers these questions with electronic diagrams and maps enabling you to develop scenarios to project your mining investments, plan your budget and hit the ground running.”
The unveiling ceremony was attended by stakeholders in the mining sector.