ABUJA – Minister of Solid Minerals Development, Dr. Dele Alake, has emphasized that Nigeria’s capital market remains a critical pillar for achieving sustainable mining development.
Speaking at the NASD–SMDF Webinar themed “Unlocking Nigeria’s Solid Minerals Potentials Through the Capital Market”, Alake—represented by his Senior Adviser on Mining and Policy, Amira Adamu Waziri—said the government is determined to position the mining sector as a driver of economic transformation. The event, jointly hosted by NASD Plc and the Solid Minerals Development Fund (SMDF), drew over 200 stakeholders.
Alake outlined the Tinubu administration’s 7-Point Agenda for the solid minerals sector, which includes:
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Establishment of the Nigeria Solid Minerals Company
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Creation of the Mines Marshalls
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Comprehensive geological data acquisition
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Formalization of artisanal and small-scale mining (ASM)
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Promotion of value addition and local processing
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Attraction of large-scale foreign and local investment
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Robust stakeholder engagement
“These pillars guide all of our current efforts toward building a world-class mining ecosystem in Nigeria,” he said.
The minister stressed that although Nigeria is endowed with over 44 commercially viable minerals—including gold, lithium, tin, lead-zinc, barite, and rare earth elements—the sector contributes less than 1% to national GDP due to challenges such as poor data, weak infrastructure, informal mining, illegal activities, and a significant financing gap.
“It is this financing gap that today’s conversation seeks to address—by exploring how Nigeria’s capital market can serve as a channel for patient, long-term, and strategic investment,” he explained.
According to him, the capital market can:
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Mobilize long-term financing for exploration and project development
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Support junior mining companies to list, raise funds, and expand
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Facilitate securitisation and monetisation of geological assets
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Channel institutional capital into infrastructure and processing hubs
Alake concluded: “Nigeria stands at the threshold of a mining renaissance. We have the mineral resources. We have the political will. What we now require is the capital, technology, and partnerships to unlock this potential.”
Other experts at the webinar also stressed the importance of early-stage investment, innovative financing models, and digital regulatory processes.
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Engr. Obadiah Simon Nkom, DG of the Nigerian Mining Cadastre Office (MCO), encouraged investors to take advantage of reconnaissance as an affordable entry point.
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Jon O’Callaghan, Advisor at Ore Reserve Development Forum, emphasized corporate governance and capital market access for investment readiness.
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Paul Lalovich, Director of Agile Dynamics, highlighted asset tokenisation as a way to unlock early-stage exploration funding.
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Fatima Shinkafi, Executive Secretary of SMDF (represented by Omotayo Omitokun), appreciated participants and noted that insights from the discussion will accelerate growth and value creation in the mining industry.