Alake secures UN agency’s study facility for critical minerals in Nigeria

*UC Davis, supported by Core International, will undertake the study to examine critical mineral resources and reserves, and set international best practices for value development to ensure the effort contributes to growth of the Nigerian economy

Alexander Davis | ConsumerConnect

Dr. Oladele Alake, Honourable Minister for Solid Minerals Development, has secured a study facility to develop a roadmap on Nigeria’s critical value chain from extraction to beneficiation to be funded by the Global Council for Critical Minerals.

The Federal Government noted Dr. Alake attained this as one of the low-hanging fruits on the sidelines of the ongoing annual Mining Indaba, holding in Cape Town, South Africa.

The Global Council for Critical Minerals is a specialised organ of the Sustainable Energy for All, a United Nations (UN) agency setup to implement the Agenda for Sustainable Development.

The study, to be conducted by UC Davis, and supported by Core International, will examine the country’s critical mineral resources and reserves, and set international best practices for value development to ensure that effort contributes to value addition to grow the Nigerian economy.

The Nigerian Government affirmed one of the expected benefits is the development of an industrial sector for the local production of solar power and foreign exchange savings from the reduction of imports of solar power products.

Mr. Kehinde Bamigbetan, Special Adviser to the Minister on Media, stated the Alake said this while exchanging views with the Principal Specialist, Renewable Energy, Sustainable Energy for All, Mr. Divyam Nagpal.

The Minister commended the UN agency for the gesture, saying it would enrich the development of Nigeria’s policy on solar power.

He also stated: “Since we have the materials for the production of solar power, we should vigorously pursue the policy of stopping the importation of solar power products and localise the production in Nigeria.

“We have a large market. Already, a lot of the products in Nigeria service the West African sub-region.

“So whatever material we are producing or manufacturing has a ready West African market.”

The statement noted the Minister equally reviewed steps taken by the administration of President Bola Ahmed Tinubu in the mining sector since assumption of office.

Building a new security architecture in mining

Alake further assured the UN agency, that the investment climate in Nigeria is positive and friendly.

He noted: “We are putting in place a new security architecture that will ensure, not just the safety of the investor, but also the protection of the mining environment.

“We also had to re-draw the Community Development Agreement to ensure that the local populace benefit maximally from these developments, so that at the end of the day, it is a win-win for the investor, the populace and the State.”

Alake explained that if investors have an unfettered environment to operate, their profit margin would increase, and they would pay their royalties and discharge their obligations to the government.

Briefing the Minister earlier, Mr. Nagpal said the critical minerals’ roadmap of Nigeria would support the country’s policy formulation process and aid the development of the critical minerals sub-sector.

The Principal Specialist of Renewable Energy, Sustainable Energy for All invited the Minister to this year’s Sustainable Energy for All Programme in Barbados with the theme, Sustainable Energy for Equity, Security and Prosperity.

The Nigerian Government noted the event is considered the pivotal gathering for leaders from government, business, finance, and communities to stimulate investment and tackle the inter-connected challenges of energy, climate, and development.

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