In a bid to combat illegal mining and formalize the sector, the Federal Government has successfully registered 250 cooperatives for small and artisanal miners. This initiative, led by the Ministry of Solid Minerals Development, was announced by Minister Dele Alake at a briefing for the upcoming 9th Nigeria Mining Week.
As of October 2024, the initiative has led to the establishment of 250 new cooperatives under the Artisanal and Small Scale Mining Department, marking a significant step toward formalizing the mining industry. Additionally, the government reports the creation of 150 buying centers, promoting regulated trading and encouraging miners to transition to legal activities.
Alake emphasized the government’s goal to shift the mining sector from raw extraction to value addition, processing, and local beneficiation, with the aim of boosting Nigeria’s economy. The country’s abundant mineral wealth, with over 44 untapped types, is viewed as a key area for economic transformation.
The Minister also highlighted major ongoing projects in the mining sector, including lithium and rare earth processing plants in Kwara and Kebbi states, a tantalite processing facility in the FCT, and a new gold refinery in Gwarinpa. These projects, along with the establishment of the Nigerian Solid Minerals Company, are expected to boost Nigeria’s mining capabilities.
Nigeria Mining Week, which runs from November 18–20, will focus on issues like environmental reforms, financing innovations, and the global positioning of Nigerian minerals. The event aligns with the government’s strategy to make the mining sector a cornerstone of Nigeria’s economic growth.
