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UNGA: Nigeria Will be a ig global Player in Supply of Critical Minerals-Minister

Published

1 year ago

September 20, 2023

…Says Nigeria’s minerals deposit worth $700billion

Joel Ajayi
Minister of Solid Minerals Development, Dele Alake, said Nigeria is ready to play an important role in meeting the global demand for critical minerals.

Alake who was speaking at a special session on the sidelines of the ongoing United Nations General Assembly in New York, said the nation’s mineral resources make it one of the top 10 players in the energy sector.

The minister spoke on the topic: “From critical minerals to energy transition: Africa in the driver’s seat” at the event organised by the Corporate Council of Africa.
He said despite being behind of other African countries in mining, Nigeria’s mineral deposit is valued at over $700bn with very huge potential to increase.
Speaking broadly of the continent, Alake said Africa is fit for the driver’s seat of the global energy transition that will be driven by critical minerals.

He said, “Nigeria has always occupied a special position in global energy discourse. Nigeria played a vital role as a key oil exporter during the era of hydrocarbon and became a top 10 exporter of oil.

As the face of global energy changes, Nigeria once again emerges as a key supplier of gas which we know is an important energy transition fuel today. Last year in the midst of the Russia-Ukraine crisis, Nigeria was one of the top exporters of LNG to Europe and was the 6th largest LNG global exporter in 2022. As you can see, there is a clear trend, whenever Nigeria is active in the global energy space, it emerges a top 10 global player and it will be no different with critical minerals.

“Nigeria is endowed with a vast deposit of minerals critical to our new world. In our new world mobility requires a new form of energy driven by minerals in our new electric vehicle world; technology is more mineral-dependent; our energy source will depend more on the energy converted from the sun and other sources; and energy storage is even more mineral reliant.

This trend does not have any reversal in sight and demand will only continue particularly as the world seeks and envisions a lower carbon future where environment, social and governance (ESG) factors are prioritized in governance and investment decisions. Therefore, minerals are at the forefront.”

He also traced the transition from different sources of energy to the now prominent renewable sources of energy.

“The shift from fossil-based energy systems to renewable energy such as wind and solar has meant that minerals that were not a part of general and public parlance have become a part of everyday speech. Today, lithium for example is woven through everyday conversations and this only just the beginning.

“Without a doubt, minerals are a major focus of our world today and rightly so. Nigeria is well positioned to play an important role in our new world. Our Solid mineral sector is valued at over USD$700bn and we know there is more to be discovered. Endowed with critical minerals, Nigeria should not and dare I say, cannot be ignored.

“We may not have a strong historic mining history like some of our neighbours such as Ghana, Mali and those in the South such as South Africa, Botswana, etc. but things are about to change,” he added.

According to him, Lithium hosted pegmatite rocks are available in Nigeria across states such as Nasarawa, Kwara, Oyo, Abuja, Kebbi and much more. Graphite is found in states such as Kaduna. One of the key objectives of the President Bola Tinubu’s administration according to Mr. Alake is to develop the entire value chain in-country – in the case of lithium.
“We want to go from Ore to concentrate to lithium hydroxide to end product,” the Minister emphasised.

He also listed states with rare Earth Elements critical for wind turbines and EV motors as Nasarawa and Plateau.

He added, “Platinum group minerals can be seen in the middle belt such as Benue and other regions. We have nickel in Kaduna and other locations. Zinc which is vital to offshore and onshore wind power generation has been a mainstay in Nigeria and is available in Ebonyi, Nasarawa, Plateau and so many other Nigerian states.
He further added that the nation was ready for foreign investment in the solid mineral sector, with President Bola Tinubu giving it a prominence.

“It is clear that Nigeria is important to the world and we are ready for investment, collaboration and partnerships in our solid mineral sector. Our new president, President Bola Ahmed Tinubu has made the solid mineral development sector vital in his administration and we are committed to making it a key contributor to our national GDP. A lot of work has been done in the sector under former administrations and we plan to take it further. Nigeria is prime to becoming a mining destination on thecontinent and it will happen in our time.”

He listed the incentives available for potential investors as:
1. up to 95% capital allowances of qualifying capital expenditure.

2. up to 3-5 years tax holidays.

3. possible capitalization of expenditure on exploration and surveys.

4. free transferability of foreign currency through the Central Bank of Nigeria for servicing of foreign loans and remittances of foreign capital and much more.

He said the country was interested in joint ventures with foreign major mining companies to explore the critical minerals.
Many leaders in the public sector, financial services and mining sectors were present at Roundtable session.

Some of them include Minister of Solid Minerals and Mines from Namibia, Ambassadors of Tanzania to United States, Ambassador of Zambia to United States, Alexia Latortue from US Treasury Department, Ms Inesha Premaratne from US International Development Finance Corporation, Seth Levey from Glencore, Hannah Gardner from DLA Piper, Daniele Laporta from Gerald Group among others.

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RMRDC: Making Giant Strides Under Prof. Nnanyelugo Martins Ike-Muonso

Published

12 hours ago

September 19, 2024

The Gleamer

By Joel Ajayi

As we embark on a journey, we always pray for an able, experienced, and courageous driver, pilot, or sailor depending on the means of transportation.

This is because the captain will have enough experience and boldness to navigate out of turbulence and to bring all the passengers and crew to the intended destination.

Interestingly, these fine qualities of ability, experience, boldness, and many more, abound in the man, Prof. Nnanyelugo Martins Ike-Muonso, who we all are pleased was appointed the Raw Materials Research and Development Council, RMRDC, the Director General/CEO by President Bola Ahmed Tinubu a few months ago. This is because he has brought his knowledge, ability, experience, and doggedness to bear in carrying out his assignment in charge of the Council.

The RMRDC, operating under the Federal Ministry of Innovation, Science, and Technology, is pivotal in driving Nigeria’s industrial growth by optimizing local raw materials exploitation, development, and utilization. RMRDC, ab initio, was conceived as a child of necessity when Nigeria was reeling from the throes of global recession and plummeting crude oil prices.

Without an iota of doubt, today, the council is experiencing a transformation with massive innovation in raw material exploitation, development, and utilization, supporting business and industrial growth, and contributing to Nigeria’s economic prosperity.

Speaking during a press briefing on Tuesday, in Abuja to commemorate his 100 days in office, he said the council is laying a solid foundation through numerous innovations that will further enhance growth in the country.

According to him, “In the past 100 days, my strategic pursuits have been to lay solid foundations for enduring success in these goals.

“Upon assuming this position, I set five crucial deliverables which include, refocusing the Council as a premier research institution; Strengthening the Council’s productivity and operational efficiency; and Significantly improving the staff welfare to be the best in the class of similar organizations.

“Others include, Boosting the Council’s visibility and instituting remarkable culture change that encourages ownership and productivity as well as Strengthening and deepening the Council’s place in the international arena.”While speaking on his Achievements so far, the DG revealed further: “My first task, therefore, was to implement a strategic goal-setting for the Council’s staff to define and set out clear objectives and targets to be achieved by the Council within a specified period towards refocusing on this historical mandate. We unleashed five significant initiatives in that regard.

“The nationwide raw material data collection exercise that focused on technical and investment information to drive our mission forward.

“The restructuring and renaming of the former Technology Innovation Complex (TIC), at the Obasanjo Space Center at Airport Road, Abuja, to a Research and Demonstration Plants Complex (RDPC). This complex will be Africa’s first center of excellence in raw material research, featuring state-of-the-art laboratories, technology development workshops, and proof of concept demonstrations.

“We have reactivated the Council’s Journal and repositioned it internationally. The repositioned Journal of Raw Material Research (JORMAR) will host RMRDC’s researchers’ publications, which are crucial in promoting awareness, facilitating knowledge sharing, and informing stakeholders about the opportunities and challenges in Nigeria’s raw materials sector. “The collaboration with universities and academies will strengthen our capacity for conducting market-guided research, ensuring sustained workforce training while deepening our orientation in science.

“The council has reformulated a new template for all our research proposals to ensure and sustain a clear departure from the old culture of blue-sky and deliberately endless research.”Speaking further, Prof Nwanyelugo Martins Ike-Muonso stated that Staff welfare remains a top priority as an issue of unpaid salaries is settled as well as set up a comprehensive welfare program. “Similarly, we established the RMRDC Training School to sustainably build our staff and stakeholders’ capacity to further the staff welfare improvement goal.

“We are committed to openness, inclusiveness, and performance management and have initiated steps to continuously improve staff ownership, orchestrate transformative culture change, boost our corporate visibility, and enhance.

“To further strengthen our visibility and communication strategies, we are upgrading our media infrastructure, which includes the launch of the RMRDC online media platform, The RMRDC TV Online.

“Additionally, we are working hard to effectively enhance the intellectual property and patent portfolio of RMRDC from its current 40 to approximately 200 new patents within the next 24 months. This proactive approach secures valuable IP assets and positions the Council as a leader in innovation within the raw materials sector, contributing to Nigeria’s overall economic growth.“As well as launching an e-registration and certification portal to enhance transparency in the raw materials sector,” DG revealed.

He however reaffirmed his commitment to reshape the future of research, technology, and innovation, driving Nigeria towards an industrially vibrant and technologically resilient economy.

“As I mark 100 days in office, I boldly say that the Council is on the verge of rewriting its history.

“I believe that in no distant future, RMRDC will play a leading role in enhancing raw materials’ development to boost raw materials’ industrial trial processing and attain sustainable industrial growth in Nigeria.

The DG, however, applauded the Minister of Innovation, Science, and Technology, Chief Uche Geoffrey Nnaji, for his unwavering support and mentorship, saying the Minister’s leadership has been instrumental in the progress made so far.

In his opening remarks, the Directorate of Corporate Affairs, Mr Chucks Ngaha commended the hard-working DG who has weathered the storm further to put the Council on the ladder of more prosperity.

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