Minister of Solid Minerals Development, Dele Alake, has said the Federal Government is more committed to the growth in energy transition and critical minerals in the country.
Alake, represented by AbdulRazaq Garba, the director general, Nigeria Geological Survey Agency, said this during the 2023 Nigeria Energy Forum (NEF) day-two programme held virtually in Lagos, yesterday.
According to the minister, Nigeria is richly endowed with various mineral types that manifest in multiple occurrences all over the country.
“The goal of the present administration is to increase the mining sector’s contribution to the national Gross Domestic Product.
“Nigeria is investor ready. Today, there are local private players and government-led programmes that have advanced exploration projects that fit the investment criteria of investors and junior miners.
“There are opportunities in minerals such as lithium, zinc, gold, tin, bitumen, niobium, chromite and other such minerals.
“Some of these minerals are very crucial in the manufacturing of renewable energy elements like the solar panels and batteries, thus positioning Nigeria as a major player in manufacturing and investments in this field,” he said.
Alake said the country was ready to work with junior miners and investors within a private sector led play.
“We are open to working with industry experts to strengthen our local mining knowledge and policies to bring us up to speed with more advanced mining nations,” he said. Jordan Lachance, the political and economic officer, US Consulate General, Lagos, said the shift to renewable energy sources transformed the global energy map.
“These geo-political trends will impact many interconnected issues, including the demand for critical minerals, the imperative to recycle batteries, the way we power our rapidly expanding economies and the electrification of transport.
‘The US shows keen interest in Nigeria’s success because in many respects, Nigeria’s success precedes the Africa success, and Africa’s success precedes the world success,” she said.
In her keynote speech, Caroline Emboubou, chief executive officer, All On, said “solar energy represented a unique proposition to help Nigeria attain its vast unmet energy needs. “Nigeria is ideally placed to capitalise on technological improvements in the renewable energy sector and fulfil its energy needs through reliable, sustainable, and profitable solutions.”
Also, the Group Chairman, NEF, Daniel Adeuyi, said the 2023 July forum focused on ‘Energising Industrialisation and Sustainable Growth’.
Adeuyi noted that over 250 key stakeholders participated in the virtual event to exchange knowledge, originating investment deals valued at over $40 million and promoting innovations for maximising energy transition for growth.
He added that the NEF-2023 day-two featured the screening of a video documentary that highlighted how clean energy solutions were contributing to restoring economic productivity for over 20,000 people in Sagbokoji Island, Lagos.
According to him, this will improve livelihoods of women seafood processors, fishermen and children in coastal communities.
Also, Adekunle Makinde, co-chairman, NEF 2023, commended participants and companies that participated in the 2023 edition.
Makinde said the best six young energy entrepreneurs across Africa would be awarded cash grant prizes of about N4 million in the finals of the Africa Energy Innovation Competition.
He added that the event was supported by Get.Invest, Johnvents, Sahara, MOJEC, NDPHC, Jinko, Oando Clean Energy Limited, Sunking and Jubaili.