Abuja, May 14, 2024 – Dele Alake, the Minister of Solid Minerals Development, says the federal government has resolved to make solid minerals the mainstay of the nation’s economy in view of the dwindling fortunes of crude oil globally.
Alake said this on Tuesday while launching the Nigerian Minerals Resource Decision Support System (NMRDSS) to provide technological communication and accessibility in the mining sector.
The minister said the main objective of the administration was to significantly increase the contribution of the solid mineral sector to the nations’ Gross Domestic Product (GDP).
.“Globally oil is dwindling. Minerals are rising and by the grace of God at the end of the gestation period of all our policy initiatives when the results begin to manifest across the board.
“Nigeria will begin to grow, move on the Renewed Hope Agenda of Mr President, which is coming up to one year in a few weeks to come,” he said.
Alake said with the Nigerian Minerals Resource Decision Support System (NMRDSS), the country must shift its attention from oil to solid minerals and the shift from reliance on fossil oil to reliance on solid.
He said investors and players in the sector had difficulty in accessing inadequate information on the sector, hence the design of the platform to enhance, and provide technological communication and accessibility in the mining sector.
The minister said when the platform is fully operational, it would not only cut the cost of investment research in the sector, it will also provide all the needed information that will guide prospective investors in making well-informed decisions.
He said the system would cut the cost of investment research.
“Hitherto, many prospective investors physically travel to Nigeria to collect data on the geology, hydrology, and even urban geography of the mining business. Today, we record a giant leap in investment prospecting.
“From the comfort of your office anywhere in the world, you can click the website of the Nigerian Minerals Resource Decision Support System, and right before your eyes are the data that would have cost you air tickets to access six months ago.
“The significance of this software to ease of doing business in the Mining sector is obvious. Besides, cutting expensive travel and lodging costs, it cuts through the labyrinth of information silos which has been an investors’ nightmare.
“It answers the question bothering any investor in the mines: Is there labour to employ? Is there a river or stream that I can use its water for processing? Is there a network of roads to haul my excavated materials to the factory?
“This NMDSS answers these questions with electronic diagrams and maps enabling you to develop scenarios to project your mining investments, plan your budget, and hit the ground running.” (GBN)
