May 14, 2024

The Federal Government has unveiled the Nigerian Minerals Resource Decision Support System (DSS), aimed at helping investors make informed decisions in the sector.

The Minister of Solid Minerals Development, Dr Dele Alake unveiled the software on Tuesday in Abuja.

The DSS is a comprehensive software platform that serves as a one-stop shop for investors seeking credible and decisive information on Nigeria’s mineral resources, facilities and infrastructure.

It was established to create awareness of the Nigerian mineral potential to a broad public, demonstrate transparency and reliability of public services, and develop the national economy.

Alake said that the software was part of President Bola Tinubu’s renewed hope agenda to revamp the solid minerals sector and boost the country’s economic profile.

According to him, revamping the sector involved introducing technological innovations in marketing, which the software leveraged to achieve.

“Generating investor traffic requires the deployment of strategies to gain competitive advantage. Technology has offered new ways to achieve that strategy.

“What we are here to inaugurate today is a game changer. It is the most investor-friendly magnet that has ever happened in this industry. It seeks to cut the cost of investment research, ” he said.

He described the software as a marketing strategy aimed at enhancing the ease of doing business in the solid minerals sector by helping investors access the necessary information to make informed decisions.

He said that the software was designed to be interactive with its users and provide data on the geology, hydrology and urban geography of the mining business.

“It answers these questions with electronic diagrams and maps enabling you to develop scenarios to project your mining investments, plan your budget and hit the ground running,“ he said.

According to the minister, Nigeria is determined to diversify its economy, especially with the global upsurge of energy transition, creating high demand for critical minerals which it possesses in commercial quantities.

“Our mineral resources have the potential of superseding oil in generating Gross Domestic Product (GDP) for the country,“ he said.

The minister said that since the inception of the Tinubu’s administration, the ministry had been embarking on aggressive marketing to attract investors to the sector which was yielding positive outcome.

He said that the government had put in place policies and initiatives aimed at sanitising the sector which included a dual-pronged approach of coercive and persuasive measures, being concurrently implemented to combat illegal mining

According to him, part of the coercive measure is the establishment of the Mining Marshal Corp, who has been deployed to the 36 states and the Federal Capital territory (FCT) to secure the mining environment.

He said that the persuasive measure involved formalising artisanal and illegal miners into cooperatives, which has resulted in the establishment of more than 150 cooperatives.

In his goodwill message, the Minister of Interior, Hon. Olubunmi Tunji-Ojo, said that the unveiled portal was for the benefit of all Nigerians and urged prospective investors to take advantage of it to explore investment opportunities.

On her part, the Permanent Secretary of the ministry, Dr Mary Ogbe, urged Nigerians to focus on marketing the country`s mineral resources and to be patient in achieving the projected results as every country had its challenges.(NAN)