PwC Nigeria, knowledge partner of Nigeria Mining Week
PWC has been the knowledge partner of Nigeria Mining Week and iPAD Nigeria Mining and Quarrying Forum since the beginning of this promising adventure. PwC is a crucial actor when it comes to determining opportunities for the solid minerals and quarrying sector in Nigeria. With a new government in place with a desire to exploit Nigeria’s vastly underexploited natural resources in the wake of the drop in oil prices, Nigeria Mining Week aims to open the door to an exclusive investment and networking opportunity for mining stakeholders to implement lasting policies that will shape the future of Nigeria’s mining industry.
PwC has been working closely with MAN and the Ministry of Mines and Steel Development to deliver a full analysis of what are the needs and challenges to unlock the potential of mining in Nigeria.
To name a few, this is what has been highlighted at the last edition in 2016:
- Funding should be provided at single digit interest rate for operators in the mining space.
- There is need for the generation of inventory and data on minerals deposits in Nigeria and their properties. The Geological Survey Agency should do a thorough appraisal and investigation on mineral deposit locations and quantities including geophysical mapping in order to attract investment.
- There is need for governments (fed & state) to get involved in creating an enabling environment especially in areas like provision of access roads, and reviewing the import waivers given for the import of mineral materials available locally.
- There is need for the fortunes of the mining sector to be revised to contribute more to GDP. Doing this will involve prioritizing certain areas like the allocation of resources and building capacity.
- Need to establish Public Private Partnership in the development and establishment of infrastructure, laboratories, data banks, and other capital intensive projects for the mining industry
- Government & businesses can ensure the involvement of communities in mining through land ownership, company ownership and land reforms and all of these should be provided for in legislation
- There should be investment in infrastructural development and establishment of intergenerational fund that ensures even after the mining operations have ended, the community continues to benefit from the proceeds
- Nigeria needs to move away from exploration in their primary form to processed forms hence manufacturing. Turning the mineral resources into feedstock and raw materials needed by industries
- Issues of insecurity around mining sites should be addressed.
For the 2nd annual edition of Nigeria Mining Week, PwC will be following up on the issues raised for the past 12 months and analyse the commodities trends for this specific region.
Register now and make sure you meet and greet with PwC senior representatives from 16 to 19 October in Abuja.Learn more about PwC Nigeria