By Gabriel Ewepu

The Minister of Solid Minerals Development, Dr Dele Alake, Wednesday, expressed optimism that structured capital will unlock mineral wealth in the nation’s solid minerals sector.

Alake made stated this in a remark at the NASD PLC–Solid Minerals Development Fund, SMDF, Webinar on ‘Unlocking Nigeria’s Solid Minerals Potentials Through the Capital Market’, through which he showcased efforts by the ministry to position the sector on an enviable height with various initiatives, policies and programmes.

The initiatives have also led to the establishment of the Nigeria Solid Minerals Company, a commercially driven national champion to catalyze investment in strategic minerals.

However, according to the minister, who was represented by his Senior Adviser on Mining & Policy, Amira Waziri, even though Nigeria is blessed with an extraordinary endowment of solid mineral resources with over 44 commercially viable minerals, ranging from gold and lithium to tin, lead-zinc, barite, and rare earth elements, across the country’s six geopolitical zones, the sector currently contributes less than one per cent to national Gross Domestic Product, GDP.

This is said to be due to the insufficient geological data, weak infrastructure, informal operations, illegal mining, and a significant financing gap.

Meanwhile, Alake commended the organisers of the event for convening what he described as timely and strategic webinar.

He said: “Today’s theme, ‘Unlocking Nigeria’s Solid Minerals Potentials Through the Capital Market’, is closely aligned with the Ministry’s vision of building a sustainable and investment-driven mining sector —one that serves as a foundation for economic transformation.

“This webinar marks the beginning of a broader national conversation on using structured capital to unlock mineral wealth.

“We look forward to collaborating with NSMC, SMDF, and other stakeholders to develop bespoke instruments, listings, and frameworks that will make this vision a reality.

“The Ministry is also working closely with relevant agencies to ensure that financing, infrastructure, security, and technical support are aligned with our national mining priorities.

“Let me emphasize: the capital market is a critical pillar in the journey toward a sustainable mining sector.

“Through the capital market, we can:- Mobilize long-term financing for exploration and project development;- Support junior mining companies to list, raise funds, and scale operations;- facilitate securitization and monetization of geological assets;- channel institutional capital into infrastructure and processing hubs.

“Let me also underscore that the ministry remains committed to inclusive and strategic stakeholder engagement.

“We are open to ideas, partnerships, and joint efforts that advance the collective good of the mining industry.

“This includes:- Continuous dialogue with host communities to ensure local participation and benefits;- Stronger collaboration with financial institutions, DFIs, and capital market operators;- Alignment with environmental and social best practices to ensure sustainability.

In conclusion, the Honourable Minister reiterates that 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.

“As we explore the possibilities before us today, let us keep in mind that this sector is not just about extracting minerals—it is about building an economy that is inclusive, resilient, and globally competitive.”

Vanguard News