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FG woos foreign mining investors with lower production cost

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Joel Ajayi

Cutting red tapes which slow business transactions and improving the security of mining operations are among fresh commitments unfolded by Nigeria’s Minister of Solid Minerals Development, Dr. Oladele Alake at the Mines & Money Conference which opened in London, United Kingdom on Tuesday.

Addressing global stakeholders in the mining industry, Alake, in the 15-minute speech pitched for more investment in Nigeria listing unique advantages such as lower production cost due to surface mining and billions of dollar untapped minerals.
He quoted recent reports by audit firm KPMG which reported that mining’s contribution to Nigeria’s GDP rose from 0.3 percent to 0.85 percent last year, indicating 0.63 percent year on year growth.

His words: “The country’s geological bounty encompasses over 44 distinct mineral types, found in exploitable quantities across more than 500 locations. Recently, recognizing the evolving global landscape and in response to emerging trends, Lithium has been included as a crucial strategic mineral of global consequence.”

Dr. Alake said the administration of President Bola Tinubu has embarked on reforms to boost investment by streamlining procedures and reducing hurdles to attract foreign investors.

Showcasing recent progress in creating conditions for solid minerals development, Dr. Alake highlighted fresh data revealed by the Airborne Geophysical Survey, memorandum of understanding with German firm Geoscan to gather more data on solid minerals across the country and access to finance through a new funding facility launched by the Africa Finance Corporation and the Solid Minerals Development Fund.

The minister reminded the global mining community of the Federal Government ‘s policies on how mining operations must benefit the communities and lead to processing instead of wholesale export of raw minerals.

“ Nigeria is currently emphasizing Solid Minerals Beneficiation and Value-Addition as a panacea for quick and sustainable growth of the Mining Industry…By adding value to our raw materials, we not only create higher value products but also generate employment opportunities for our teeming youth and increase the sector’s overall profitability and contribution to the nation’s GDP”, he said
Dr. Alake urged investors to support socio-economic development of the communities where they mine to make mining mutually beneficial.

Citing the recent launch of the revised guidelines for Community Development Agreement which provides for social amenities, educational support, health and safety environmental facilities.

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Oluwakemi Areola’s Vivacity Development Pioneers Youth Empowerment for a Sustainable Future

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Abuja based organization,Vivacity Development, has reaffirmed its commitment to nurturing the potential of young individuals for a sustainable future.

Vivacity Development is strategically directing its efforts towards capacity development initiatives meticulously designed to equip young individuals with the essential skills necessary to flourish within the green economy. Simultaneously, the organization is harnessing the power of Information and Communication Technology (ICT) for Research and Development (R&D), with the overarching goal of driving innovation and sustainability.

Founder and CEO of Vivacity Development, Oluwakemi Areola, underscores the paramount role of youth in shaping a sustainable future. By prioritizing capacity development, the organization aims to arm young people with the expertise required to excel in the dynamic landscape of the green economy.

The organization has delineated four key initiatives aimed at facilitating the achievement of these objectives:

Green Economy Training Programs: Vivacity Development is spearheading specialized training programs focusing on the green economy. These initiatives encompass crucial areas such as renewable energy, sustainable agriculture, and environmental conservation, thereby empowering young individuals to make meaningful contributions to a greener world.

ICT Integration for R&D: Recognizing the transformative potential of technology, Vivacity Development is fully embracing ICT for Research and Development endeavors. By integrating cutting-edge technologies, the organization aims to catalyze innovation in sustainable practices, environmental conservation, and eco-friendly solutions.

Collaborations with Industry Leaders: Vivacity Development is actively fostering strategic partnerships with industry leaders in both the green economy and ICT sectors. These collaborations will provide young participants with invaluable real-world insights, mentorship, and opportunities to engage in impactful projects.

Youth-Led Initiatives: The organization is championing youth-led initiatives by offering a platform for young innovators to showcase their ideas. Vivacity Development firmly believes in the potential of the younger generation to drive positive change and, through mentorship and support, aims to amplify their impact.

Areola expresses profound enthusiasm about the initiative, emphasizing Vivacity Development’s unwavering belief in the power of youth to shape a sustainable future. She reaffirms the organization’s commitment to investing in capacity development and leveraging ICT for research and development, thereby nurturing a generation of environmentally conscious and innovative leaders.

The company’s dedication to the green economy is seamlessly aligned with its steadfast commitment to utilizing technology for research and development.

On February 22, 2024, Vivacity Development will hold its first event of the year at the University of Abuja, with the primary objective of inspiring transformative actions that promote sustainable development, enhance workforce readiness for the digital age, and accelerate the transition to a green economy.

By fostering interdisciplinary collaboration, promoting best practices, and facilitating capacity building, Vivacity Development is poised to create tangible impacts that contribute to a more sustainable and prosperous future.

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