“Nigeria is on the mining map and the sector is working hard to prepare its road map because ultimately, there are enormous investment opportunities in the Nigerian mining sector,” says Elodie Delagneau, Nigeria Mining Week Event Director.
“Despite signs of recession and low global commodity prices, the Nigerian mining industry has certainly witnessed some phenomenal developments within the past 10 months,” says Delagneau.
“A lot of progress still needs to be made to develop the sector, and bring about the required grass root impact for a country in dire need of alternative sources of foreign exchange. This is expected to be achieved in the medium to longer term within the Nigerian mining sector,” she adds.
“On another note, in August 2016, the mining road map was approved by the President and a bill proposing the creation of a regulator will be the next step for the development of the industry. The new legislation is including incentives such as allowing full foreign ownership of mining projects in order to attract investments and economic growth.”
“Any individual or organisation interested in exploring the many opportunities Nigeria’s solid minerals sector presents should plan to be at this year’s Nigeria Mining Week. Building on the success of last year’s edition and the key relationships we have built over the years, this year’s Mining Week is being packaged to add great value to all participants,” says Cyril Azobu, PwC Nigeria Advisory Partner and Mining Leader.
“We at PwC are committed to this partnership with the Miners Association of Nigeria (MAN). This commitment to helping to unlock the potential in the sector aligns well with our purpose of building trust in society and solving important problems. I therefore invite all stakeholders to take advantage of the opportunity that the Nigeria Mining Week presents to make a difference for their business and the sector in general,” says Azobu.
Opportunities in the Nigerian mining sector include:
- Nigeria is looking for investments of $7 billion in mining and steel over the next decade as it seeks to develop gold and iron ore extraction industries to diversify its oil-dependent economy.
- Nigeria aims to increase mining’s contribution to gross domestic product from 0.3% in 2015 to 7% within a decade: from $1.44 billion to $33.67 billion.
- It also plans to create a $1 billion mining exploration fund from state and private capital to improve data on Nigeria’s mineral wealth. Each exploration project will be supported with about $5 million.
- The government has created a local minerals investment fund of $500 million injected for the sector.
“This strategic platform aims to initiate and fast-track a new mineral sector reform roadmap that encourages and provides innovative business ventures and supports partnership opportunities, at a time when the Government of Nigeria looks to diversify the economy outside of oil and gas,” says Delagneau.
- Welcome address: How does the road map and new policies have impacted the miners from 2016 to 2017? What changes can be observed? – Alhaji Sani Shehu, MAN Nigeria President
- A-to-Z guide to mining in Nigeria
- Investors’ breakfast: Everything you need to know about investing in mining in Nigeria
- Access to finance: learn from the leaders and established businesses
- Mining leader mentorship: Sharing best practices – Learn from the leaders and established businesses
- Mining industry as a tool for the industrialisation of Nigeria’s economy
- Addressing the issues: Open dialogue between public and private sector. How to fast track the development of the sector?
- Learning from successful players and potential off takers: What should be done to make Nigeria an attractive destination for Australian Investors?
- Solid infrastructure development: a contributor to the country’s economic growth
- Understanding the role of the manufacturing and positioning minerals end products in the economy
- CSR vs. CSI: Investing into communities for sustainable development
Nigeria Mining Week dates and location:
Pre-conference: 16 October 2017
Conference: 17 to 18 October 2017
Site visit: 19 October 2017
Venue: Nigerian Air Force Conference Center, Abuja, Nigeria