By ABAH SUNDAY, Abuja
Minister of Solid Minerals Development Dr Oladele Alake has stated that advanced technology has offered new ways to achieve that strategy desired to be on top of the solid minerals investment attraction game internationally.
Alake stated this in his keynote address while launching the Nigerian Minerals Resource Decision Support System (NMRDSS) in Abuja on Tuesday, a statement said.
According to the Minister, The event was crucial to the Renewed Hope Agenda of President Bola Ahmed Tinubu because it creates a critical instrument for economic growth and development, two important goals of our administration.
He said, “In my declaration of the Seven Point Agenda of the Ministry, I emphasised international competitiveness as a key objective of our plan.
“International investment marketing recognises that many countries are running the race to attract foreign direct investment. We meet each other at mining conferences, display samples of our minerals and try to convince as many callers as possible that Nigeria is the best destination.
“Yet the struggle to be on top of the attraction game continues. Generating investor traffic requires the deployment of strategies to gain competitive advantage. Technology has offered new ways to achieve that strategy.”
Stressing the importance of the system being launched, the Minister said, “What we are here to launch 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.
“Hitherto, many prospective investors physically travel to Nigeria to collect data on the geology, hydrology and even urban geography of the mining business.
“Today, we record a giant leap in investment prospecting. From the comfort of your office anywhere in the world, you can click the website of the Nigerian Minerals Resource Decision Support System and right before your eyes are the data that would have cost you air tickets to access six months ago.
The significance of this software to ease of doing business in the mining sector is obvious. Besides, cutting expensive travel and lodging costs, it cuts through the labyrinth of information silos which has been an investors’ nightmare.
“It answers the question bothering any investor in the mines: Is there labour to employ? Is there a river or stream that I can use its water for processing? Is there a network of roads to haul my excavated materials to the factory? This NMDSS 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.
“There is no doubt in my mind that, when fully operational, it will demonstrate the seriousness of this administration about investment promotions and accelerate the setting up of businesses in the mining sector.”