The Federal Government has introduced the Nigerian Minerals Resource Decision Support System (DSS), to aid investors in making well-informed decisions within the sector.Dr. Dele Alake, the Minister of Solid Minerals Development, revealed the software yesterday in Abuja.
The DSS is an extensive software platform serving as a centralized hub for investors seeking reliable and crucial information on Nigeria’s mineral resources, facilities, and infrastructure.It was developed to raise awareness of Nigeria’s mineral potential to a wide audience, showcase transparency and dependability in public services, and promote the growth of the national economy.Alake stated that the software is part of President Bola Tinubu’s revitalized commitment to overhaul the solid minerals sector and enhance the country’s economic standing.
He emphasized that revamping the sector involves introducing technological advancements in marketing, which the software effectively utilizes to accomplish.”Generating investor traffic necessitates the implementation of strategies for gaining a competitive edge. Technology has introduced new avenues to achieve this strategy.
“What we are inaugurating today is a game-changing tool. It is the most investor-friendly attraction that has ever been introduced in this industry. Its aim is to reduce the costs associated with investment research,” he remarked.He characterized the software as a marketing tactic designed to streamline the process of conducting business in the solid minerals sector by facilitating investor access to essential information for making informed decisions.He explained that the software is interactive with users and provides data on the geology, hydrology, and urban geography of the mining business.
“It addresses these inquiries through electronic diagrams and maps, enabling you to develop scenarios for projecting your mining investments, planning your budget, and commencing operations,” he articulated.According to the minister, Nigeria is committed to diversifying its economy, especially given the global surge in energy transition, which has led to a high demand for critical minerals that Nigeria possesses in substantial quantities.”Our mineral resources have the potential to surpass oil in contributing to the country’s Gross Domestic Product (GDP),” he pointed out.
The minister highlighted that since the inception of Tinubu’s administration, the ministry has been actively engaged in aggressive marketing efforts to attract investors to the sector, which have yielded positive outcomes.He mentioned that the government has implemented policies and initiatives aimed at cleansing the sector, including a dual-pronged approach of coercive and persuasive measures to combat illegal mining.He detailed that part of the coercive measures involves the establishment of the Mining Marshal Corp, which has been deployed to all 36 states and the Federal Capital Territory (FCT) to secure the mining environment.
He added that the persuasive measure entails formalizing artisanal and illegal miners into cooperatives, resulting in the formation of over 150 cooperatives.In his message of goodwill, the Minister of Interior, Olubunmi Tunji-Ojo, emphasized that the newly unveiled portal is beneficial for all Nigerians and encouraged potential investors to capitalize on it to explore investment opportunities.
FG Introduces Software to Showcase Nigeria’s Mineral Resources to InvestorsDr. Mary Ogbe, the ministry’s permanent secretary, encouraged Nigerians to focus on marketing the country’s mineral resources and to remain patient in achieving the anticipated results, as every country faces its own set of challenges.From: Nwakaji Peace Martins
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