This article discusses the development of Mining sector and how it will create job opportunities in the country.
There are several areas of investment opportunities for mining sector in Nigeria. Some of the minerals that can be invested in Nigeria include coal, limestone, iron ore, gold, lead-zinc, tin, limestone, and barite.
The Nigerian government has implemented a number of policies and initiatives to encourage investment in the mining sector. These include the establishment of the Ministry of Mines and Steel Development, the creation of a solid minerals development fund, and the development of a national action plan for the development of the mining sector. Additionally, the government has also introduced a number of fiscal incentives for investors, such as tax holidays, duty exemptions, and waivers on import and export restrictions.
Read: MINING BUSINESS OPPORTUNITIES
The mining sector in Nigeria is still in its infancy, with only a small percentage of the country’s mineral resources currently being exploited. However, there is significant potential for growth in the sector, and the government is working to create an enabling environment for investors. The focus is on developing the sector to create jobs, increase revenue, and promote economic development.
The government has also initiated a number of programs to develop the human capital required for the mining sector. This includes the establishment of a mining cadastre office, which is responsible for the registration and regulation of mining activities in the country. The government is also working to establish a national mining institute to provide training and education for the mining sector.
Director General of NMCO, Obadiah Simon Nkom stated this in Abuja while being conferred with the Outstanding Leadership Award by the National Association of Nigerian students, NANS for his contributions to the growth of the country through the Mining sector.
Nkom who explained that no nation can develop industrially without the mining sector noted that the essence for development of the sector was to create more jobs for the well-being of citizens in the country, especially for the youths.
The Director General of NMCO promised close collaboration between his office and NANS to boost the growth of the nation through innovation.
Nkom praised President Bola Ahmed Tinubu’s administration for showing concern on the plight and well-being of Nigerian students.
He also appreciated the Executives of NANS for recognizing his efforts to ensure the growth of the country’s economy through NMCO.
He further explained that on his reappointment as the Director General of the Office in January this year, a clear mandate was established to promote transparency, accountability and ensure that revenue was maximized noting that the NMCO’s revenue since 2019 has always surpassed that of the previous year.
Read: NIGERIAN MINING BUSINESS
“When you look at our revenue since 2019, we have always surpassed the previous year. During the COVID-19 in 2020, we supposed to have shut down, but we still surpassed the previous year, even as I speak today even though we are in the middle of the year, we have surpassed last year’s revenue” Nkom added.
“It simply means that if at the end of June, we are already surpassing last year, then we have a target, we need this Internally Generated Revenue, IGR”.
“It now bestows on me greater responsibilities, expectations, more work. I feel touched for this honor you have given to me and with the NANS, we can go through the journey together.
“We are now partners in growing the economy and together we are going to move forward. When the Former President renewed my tenure, he said I through the NMCO have increased revenue by 86 percent,” he added.
On his part, the National Secretary of the National Association of Nigerian Students, NANS, Usman Baba Kaikai said that the NMCO has contributed immensely to the economic growth of the country.
Kaikai said that NANS came to affirm its support on the leadership, Management and Staff of the NMCO for the positive impact it has made on the institution.
He said that the Apex body of Nigerian Students at home and in the diaspora were impressed with his efforts towards ensuring zero tolerance for corruption and the enablement of transparency and accountability the Director General had brought to the NMCO.
In conclusion, The mining sector in Nigeria has vast potential for growth, with large deposits of minerals such as coal, iron ore, gold, limestone, and lead-zinc. The government of Nigeria is committed to creating an enabling environment for investors by providing the necessary infrastructure, legal framework, and support services. The government’s focus on developing the sector to create jobs, increase revenue, and promote economic development make Nigeria an attractive destination for mining investment.