Solid Minerals Development Fund Optimistic Of Mining Future In Nigeria

 “If we build the right financing system, mining can become a true pillar of economic diversification,” Shinkafi concluded.

Chairman of the Geological Society of Nigeria, Uba Saidu Malami said Nigeria’s mineral wealth will only translate into national wealth when the country scientifically qualifies its resources to global standards

He added that mining financing largely comes from capital markets, not banks, making internationally certified reports critical for junior mining companies.

Malami also highlighted links between natural resources and insecurity, stressing the need to mitigate risks while ensuring Nigeria assigns real value to its gold, diamonds, and transition minerals through reliable exploration and reserve reporting.

In his submission, a Mining investment expert and Mont Capital executive, Jon O’Callaghan, says Nigeria could build a mining industry bigger than oil and gas within 25 years — but only if the country attracts risk capital into exploration, not just mining.

O’Callaghan said Nigeria already has the right policies in place and the Federal Government has “done its job” by creating an enabling environment.