Senate Collaborates with Solid Minerals Development Fund to Revitalize Mining Sector

By Iyojo Ameh

In a bid to stimulate growth and development in Nigeria’s mining sector, the Senate Committee on Solid Minerals has entered into a strategic partnership with the Solid Minerals Development Fund (SMDF).

Led by Fatima Shinkafi, the Executive Secretary and CEO of SMDF, the collaboration aims to attract foreign investment, boost export earnings, and foster job creation.

Through this initiative, SMDF seeks to expand its fund base by leveraging partnerships, with a focus on generating critical geological data to guide investment decisions.

SMDF, under the leadership of Fatima Shinkafi will prioritizes foreign investment attraction, export revenue enhancement, and domestic job creation.

She also noted that the partnership with the Senate Committee on Solid Minerals aims to address legislative and policy gaps to facilitate sectoral growth.

Senator Sampson Ekong, Chair of the Senate Committee on Solid Minerals, underscores the country’s abundant mineral resources and emphasizes the need for a robust legal framework.
He said the collaboration with the African Finance Corporation (AFC) is central to financing Greenfield exploration projects, crucial for attracting investment into the sector.

To this effect, the Senate Committee pledges to provide legislative support and oversight to strengthen the existing policy framework guiding SMDF’s activities.

The collaboration between the Senate Committee on Solid Minerals and SMDF signifies a unified effort to unlock the potential of Nigeria’s mining sector, by fostering partnerships, enhancing data-driven decision-making, and addressing regulatory challenges, the initiative aims to create an enabling environment for sustainable growth and development in the industry.