…Through SMDF partnerships with NASD Plc and other financial institutions.
ABUJA, NIGERIA – iNews Times |
SMDF has taken center stage in Nigeria’s renewed commitment to repositioning the mining sector as a key driver of economic diversification. At a high-level virtual meeting hosted by SMDF in collaboration with NASD Plc, government officials, investors, and industry stakeholders agreed that transparent licensing, innovative financing models, and digital reforms are crucial to unlocking Nigeria’s estimated $1 trillion in mineral wealth.
Delivering remarks on behalf of the Minister of Solid Minerals Development, Senior Adviser on Mining and Policy, Amira Waziri, reaffirmed that SMDF is a critical vehicle for delivering the Ministry’s seven-point agenda for transforming the sector. Waziri explained that this agenda focuses on creating a Nigeria Solid Minerals Company, deploying Mines Marshalls to combat illegal mining, developing a comprehensive national geological data bank, and formalizing artisanal miners into cooperatives through SMDF-supported programs.
Other priorities outlined include boosting local mineral processing, attracting large-scale domestic and international investment, and strengthening stakeholder engagement to ensure host communities benefit from mining operations. Waziri stressed that SMDF will be instrumental in bridging funding gaps, de-risking exploration projects, and mobilizing capital for small and junior mining companies.
“The capital market is a critical pillar in this journey,” Waziri said. “Through SMDF partnerships with NASD Plc and other financial institutions, we will mobilize long-term financing for exploration, scale up junior mining operations, and even securitize geological assets to attract global investors. The solid minerals development Fund is designed to catalyze a sustainable, profitable, and inclusive mining industry.”
In her own remarks, Executive Secretary of The solid minerals development Fund Hajia Fatima Umaru Shinkafi (represented by her Executive Assistant), highlighted the Fund’s unique mandate to act as a bridge between the public sector, private investors, and host communities. She noted that SMDF is pioneering innovative financing tools such as digital fundraising platforms, tokenization of mineral assets, and Foreign Direct Investment-as-a-Service (FDIaaS) models to unlock global capital flows into Nigeria’s mining ecosystem.
Shinkafi stressed that solid minerals development Fund is not only a financing body but also a strategic partner in policy advocacy, stakeholder engagement, and technical capacity building. “Our goal is to ensure that every dollar invested in Nigeria’s mining sector delivers real value — to investors, to government, and most importantly, to the communities where mining takes place,” she said.
Speaking on the regulatory framework, Director-General of the Mining Cadastral Office (MCO), Mr. Obadiah Nkom, emphasized that valid licenses are the economic backbone of the sector. He reiterated that solid minerals development Fund supported projects will strictly comply with the “first come, first served” principle and leverage digital monitoring systems to guarantee transparency and accountability.
“Without valid MCO licenses, mineral resources remain mere geological data,” Nkom warned. “But with SMDF’s intervention, these assets become bankable, tradable, and capable of attracting world-class investment.”
The forum concluded with stakeholders agreeing that SMDF is central to Nigeria’s mining renaissance. With more than 44 commercially viable minerals spread across the six geopolitical zones, they said SMDF’s catalytic financing role will help convert potential into real economic growth, create jobs, and boost government revenues.
Participants stressed that the right mix of capital, technology, and partnerships – facilitated by SMDF – will translate Nigeria’s mineral wealth into long-term prosperity and reduce the nation’s dependence on oil revenues.
