The mining sector in Nigeria is set to receive a boost as investors from South Africa, Canada, Australia , Dubai and Thailand have declared their interest to mine in Nigeria. South Africa, Australia and Canada are known to have very good experience in this area which may have come naturally, as they are resource rich countries and have presence of Multinationals like Rio Tinto, BHP Billiton,De Beers etc. There are 44 minerals occurring in no fewer than 500 locations in Nigeria; the notable minerals are Metallic, Tin, Tantalite, Columbite, Iron ore, Nickel, Lead, Zinc, Zircon, Silver, and Copper.
“Among them are industrial minerals, Barytes, Talc, Limestone, Clays, Marble, Graphite, Asbestos, Feldspars, Glass sand, Gypsum, Talc, Mica, Precious minerals, Gold, Silver, Gemstones Coal, Bitumen, Lignite and Uranium.”
The President, Miners Association of Nigeria, Alhaji Sani Shehu told the News Agency of Nigeria that the Nigerian Minerals and Mining Act, 2007, and its Regulations 2011, were in line with international standard and guaranteed security of tenure.
He also said Nigeria had a favourable geology and readily available geosciences data for prospective investors.
According to him, Nigeria is richly endowed with various minerals that manifested in multiple occurrences all over the country.
The Nigerian mining association has said that a bank for miners will soon be established. this it said would enable members access to finance for mining activities.However, there still needs to be a proper framework to guide and protect investors. Currently most of the activities are still relatively primitive, with very good opportunities for investors. The government should remember it's experience from the petroleum industry and strive to develop a world class transparent and vibrant mining industry , which ensures that the adequate income accruable to the coffers of government is properly accounted for.
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