General News
Mining Stakeholders Seek Stronger Partnerships To Attract Investments
Stakeholders in Nigeria’s mining sector have called for stronger security, regulatory coordination and strategic partnerships to attract investment and accelerate the development of the country’s solid minerals industry.
They made the call at the opening of the 11th Nigeria Mining Week in Abuja, which brought together government officials, mining operators, investors, international partners and other industry stakeholders to discuss ways of unlocking the sector’s economic potential.
The President of the Miners Association of Nigeria, Oba Ayandele Ayanleke, identified insecurity along mining corridors and regulatory conflicts between the Federal Government and subnational authorities as major challenges confronting the industry.
Ayanleke said collaboration among local and international stakeholders would promote the exchange of ideas, technology and investment needed to expand mining activities and create wealth for Nigerians.
He called for greater clarity in the regulatory environment to give investors confidence and ensure a more conducive business climate.
The association president, however, said it would be difficult to quantify the immediate economic benefits of the annual event, noting that its impact extended beyond measurable revenue to include social and other developmental benefits.
On a recent mining incident, Ayanleke said the government had established an investigative panel and urged stakeholders to await its findings.
In his remarks, the Country Manager of Segilola Resources Operating Limited, Austin Menegbo, said Nigeria needed to build on the success of its first large-scale commercial gold mine to establish a stronger and more competitive mining industry.
Menegbo stated that Segilola produced 91,910 ounces of gold in 2025, adding that Nigerians accounted for 99 per cent of its workforce.
He said the mine had demonstrated that responsible investment, technical expertise, effective regulation and sustained engagement with host communities could support globally competitive mining operations in Nigeria.
Menegbo identified regulatory uncertainty, inadequate coordination among government agencies, illegal mining, insecurity, infrastructure constraints and limited access to finance as issues requiring urgent attention.
He called for a more coordinated approval process, predictable regulatory timelines and sustained dialogue among government, operators, investors, host communities and civil society.
The Segilola country manager also advocated measures to formalise artisanal and small-scale mining through safety training, access to finance, technical support and cooperative structures.
He stressed that improving the investment climate should go hand in hand with environmental protection, workers’ safety and responsible community engagement.
Also speaking, the Head of Mission of the Swedish Embassy in Nigeria, Ambassador Anna Westerholm, called for mining partnerships that prioritised local value addition, workers’ safety, community welfare and transparency.
Westerholm said Nigeria could benefit from Sweden’s experience in mining technology, automation, skills development and responsible mineral production.
She emphasised that mining companies must earn the trust of host communities, noting that the long-term success of mining projects depended on how they affected the people and environment around them.
The Swedish envoy also highlighted the growing importance of mineral traceability, saying the ability to establish where minerals originated and the conditions under which they were produced would strengthen Nigeria’s competitiveness in international markets.
She said Sweden was ready to deepen cooperation with Nigeria through technical expertise, trade and investment partnerships.
Earlier, a Partner and Mining Industry Leader at PwC Nigeria, Cyril Azobu, said the country needed to translate its mineral potential and growing international interest into bankable projects and sustainable economic growth.
Azobu said achieving this would require a predictable investment environment, credible projects and stronger partnerships capable of connecting local opportunities with international capital, technology and expertise.
He highlighted the importance of moving beyond raw mineral exports towards domestic processing and value addition to increase economic benefits for the country.
Azobu also reaffirmed PwC Nigeria’s commitment to supporting the development of the mining industry through technical expertise, regulatory guidance and engagement with industry stakeholders.
The 11th Nigeria Mining Week is being held under the theme, “Unlocking Investment and Growth through Partnerships.