Abuja: President Bola Tinubu has announced that his administration is adopting advanced technology, including artificial intelligence, to transform Nigeria’s mining sector. This strategic move is part of ongoing efforts to reposition the industry and enhance its global competitiveness. President Tinubu made these remarks while inaugurating the ninth Nigeria Mining Week in Abuja on Tuesday.
According to News Agency of Nigeria, President Tinubu, represented by the Minister of Innovation, Science, and Technology, Chief Uche Nnaji, emphasized the role of technological innovation in maintaining a competitive edge on the global stage. He noted that his administration’s ‘Renewed Hope Agenda’ is focused on establishing a mining sector recognized for innovation, resilience, and sustainable development. The president highlighted ongoing reforms aimed at adapting to the evolving industry landscape, which are intended to strengthen Nigeria’s local economy.
President Tinubu also underscored the importance of fair revenu
e distribution, environmental sustainability, and socio-economic welfare, asserting that Nigeria’s vast resources should benefit all its citizens. He pointed out that strategic global partnerships are helping Nigeria unlock new markets and showcase its mineral wealth internationally. The summit, he noted, is a platform for stakeholders to evaluate the mining sector and plan its transformation into a catalyst for national economic growth and shared prosperity.
Minister of Solid Minerals Development, Dr. Dele Alake, also addressed attendees, detailing new policies and regulations introduced by the Tinubu administration to address existing gaps in the solid minerals sector. These policies include a value addition requirement for investors, mandating plans for value addition to minerals before exportation. Alake highlighted a dual-pronged strategy to tackle illegal mining and enhance site security, which includes the formation of a special security unit that has successfully arrested 300 illegal miners.
Dr. Ala
ke also announced the integration of satellite technology for enhanced monitoring of mining activities, alongside the introduction of a new mining rate regime designed to attract serious investors. He expressed optimism about the mining industry’s potential to become a cornerstone of Nigeria’s economy, driven by collaborative efforts among stakeholders.
The News Agency of Nigeria reported that the theme for the mining week is ‘From the Inside Out: Building the Mining Sector to be the Cornerstone of the Economy’.