…says countries without good Geodata are disadvantaged
From Charity Nwakaudu, Abuja
The Minister of Mines and Steel Development, Olamilekan Adegbite, yesterday in Abuja launched the National Geodata Centre.
Adegbite said most countries that attract global exploration investments is based on their open policy and accessibility of Geodata information.
He explained that the Centre project would create a modern, digital, accessible infrastructure for the delivery of Nigerian Geological Data.
The Minister further added that without good Geodata availability a country is disadvantaged in the labour market.
” It is a common knowledge that Mining companies have many countries from which to select when deciding where to spend their limited exploration budgets’. Investment decisions are therefore based heavily on a company’s analysis of available GeoData. Companies will always find other jurisdictions if GeoData is not available and/or difficult to obtain. Without good GeoData, a country is disadvantaged. This accounts for a significant number of World Bank loan agreements being put in place to modernise and reform the recipient country’s mineral sector.
“When looking at investment in mining, investors want to minimise risk while maximising return. To make decisions, investors will look at geological potential (how prospective a country is) as well as country ‘risk,he said.
Adegbite on behalf of the Federal Government and the Ministry of Mines and Steel Development, appreciated the MinDiver Project for supporting the establishment of the National Geodata Centre and the BGS for providing excellence technical assistance on this sector high priority activity.
The permanent secretary Oluwatoyin Akinlade on her part stated that NGSA National Geodata Centre would provide a reliable geographical data for miners.
Akinlade who was represented by the ministry’s Director of Human Resource Alhaji Suleiman said the centre would increase investors in the mining sector.
NASA Director General Abdulrazaq Garba in his vote of thanks appreciated the Federal Government and the ministry for providing an enabling environment for the NGSA to operate.
He added that under his stewardship the agency has anchored its programs on three major platforms namely Geosciences Data Generation for Economic Diversification and National Development Infrastructural Development and tools acquisition to support data acquisition/mining development Capacity Development for professional output and in line with international best practices across board.