The Miners Association of Nigeria has identified insecurity around mining corridors and regulatory confusion between the Federal Government and subnational authorities as major obstacles to attracting investments into the country’s solid minerals sector.
The association’s President, Oba Ayandele Ayanleke, said Nigeria needs to address the challenges to give investors the confidence to commit capital to mining projects.
He spoke on Tuesday at the opening of the 11th Nigeria Mining Week in Abuja, where industry stakeholders called for stronger partnerships, predictable regulations, safer mining operations and local processing of minerals to unlock the sector’s economic potential.
Ayanleke said bringing local and international stakeholders together would encourage the exchange of ideas, technology and investment needed to develop the industry and diversify the economy.
“When you say coming together of different stakeholders, not only within Nigeria but from outside, you see that there will be a convergence of ideas, convergence of technologies, convergence of investment, which will make the industry grow very well in Nigeria,” he said.
He added that the sector could provide an alternative source of economic growth and create wealth for Nigerians if the challenges facing operators were addressed.
“There are so many barriers. But still, you know that presently we are having a lot of insecurity issues around our mining corridors. This is one of the major barriers we need to address,” the association’s president said.
He also called for a resolution of regulatory disagreements between federal and state authorities, saying uncertainty could discourage prospective investors.
“It is necessary for us to actually sit down and fashion out what works better for Nigeria, so that there won’t be confusion, so that investors will have a clear vision of where they are coming, and the environment, like the revenue, will be conducive for them to invest and, of course, get returns on investment,” he said.
Ayanleke said it would be difficult to quantify the immediate economic benefits of the annual gathering because its impact extended beyond measurable revenue and investment figures to social and other benefits.
The concerns were echoed by the Country Manager of Segilola Resources Operating Limited, Austin Menegbo, who said Nigeria needed more commercially viable mining projects to transform its mineral wealth into lasting economic benefits.
Menegbo disclosed that the Segilola gold mine produced 91,910 ounces of gold in 2025, while Nigerians accounted for 99 per cent of its workforce.
“One successful commercial gold mine does not transform an industry. Nigeria needs a pipeline of credible projects. We need more discoveries to become mines, more mines to become enduring businesses, and more mining activity to create value for communities, investors and the country,” he said.
Menegbo identified regulatory uncertainty, illegal mining, insecurity, inadequate infrastructure, limited access to exploration finance and skills gaps as issues requiring sustained government and private sector collaboration.
He said investors could manage rigorous regulatory standards but struggled when requirements overlapped, approval timelines were unclear or government agencies issued conflicting instructions.
“Investors can manage rigorous standards. What is trouble to manage is uncertainty,” he said, urging authorities to coordinate approvals and establish transparent timelines.
The Head of Mission of the Swedish Embassy in Nigeria, Ambassador Anna Westerholm, urged Nigeria to prioritise local mineral processing, worker safety and community development to ensure that mining generated lasting benefits.
Westerholm said Sweden’s experience showed that mining companies had long-term responsibilities to the communities where they operated.
“The licence that matters the most is the trust of the community,” she said, recounting how the Swedish mining town of Kiruna was being relocated as underground iron ore mining threatened the existing settlement.
She said the mining company was responsible for the relocation under Swedish law, illustrating the importance of ensuring that communities were not left to bear the costs of mineral extraction.
The PwC Nigeria Partner and Mining Industry Leader, Cyril Azobu, also called for stronger partnerships among government, mining companies, investors, financiers, communities and development partners to convert Nigeria’s mineral resources into viable projects.
In his welcome address, Azobu said the country needed a predictable investment environment, credible projects and financing arrangements capable of supporting the development of its mineral resources.
He cited the critical minerals framework signed between Nigeria and the United States as an example of international cooperation that could connect the country’s mineral potential with investment, technology and expertise.
Azobu also urged Nigeria to move beyond exporting raw minerals towards domestic processing and value addition.
