By SUNDAY ABBA, Abuja
Nigeria’s Minister of Solid Minerals Development Dr Dele Alake has underscored his ministry’s resolve to collaborate with all stakeholders, including the NASD (National Association of Security Dealers) and SMDF (Solid Minerals Development Fund) to build a robust capital market, while implementing the Ministerial 7-point agenda for unfettered development of the mining sector.
Speaking on Wednesday Speaking at an NASD–SMDF Webinar themed, “Unlocking Nigeria’s Solid Minerals Potentials Through the Capital Market”, the Minister who thanked NASD and SMDF for organising the virtual event, emphasised that the capital market is a critical pillar in the journey toward a sustainable mining sector.
“The ministry is also working closely with relevant agencies to ensure that financing, infrastructure, security, and technical support are aligned with our national mining priorities,” he said.
According to him, the webinar marked the beginning of a broader national conversation on using structured capital to unlock mineral wealth.
Alake who was represented by his Senior Adviser on Mining & Policy, Amira Adamu Waziri, said, “We look forward to collaborating with NSMC, SMDF, and other stakeholders to develop bespoke instruments, listings, and frameworks that will make this vision a reality.
“Let me also underscore that the ministry remains committed to inclusive and strategic stakeholder engagement. We are open to ideas, partnerships, and joint efforts that advance the collective good of the mining industry.”
In his presentation on “Real World Asset Tokenisation as a Means to Unlock Early-stage Exploration Funding”, keynote speaker and Director at Agile Dynamics, Paul Lalovich, said the future lies in sovereign-compatible blockchain infrastructure.
tHe disclosed that “the leading innovator in blockchain technology, and Agile Dynamics, a global consultancy specializing in digital assets and transformation, have signed a Memorandum of Understanding (MOU) to launch a long-term strategic partnership”.
He highlighted that tokenization can enable more transparent capital flows and innovative cross-border digital finance models to fund early-stage exploration.
According to him, the collaboration marks a joint commitment to building the next generation of sovereign-compatible blockchain infrastructure, enabling more transparent capital flows, the tokenization of realworld assets, and new models of cross-border digital finance.
Lalovich added that combining Hyperchain’s deep technological expertise with Agile Dynamics’ international business and regulatory capabilities, the partnership will accelerate blockchain adoption across emerging markets in Africa, Latin America, Asia, and the Middle East.
Also speaking on ‘Mining asset development cycle and investment readiness” a Mining expert and corporate financier, Jon O’ Callaghan, warned that Nigeria’s solid minerals sector will remain trapped in artisanal practices if urgent steps are not taken to attract risk capital for exploration.
O’Callaghan, stressed that investors must understand the seven stages of a mineral project and follow them in sequence, from reconnaissance and licensing to feasibility studies, financing, and eventual mining, insisting on no shortcuts in mining.
“You can not jump from licensing straight to production and expect financing because without feasibility studies and proper exploration, investors will not commit funds”
He added that Nigeria’s abundant mineral wealth remains largely underexplored due to the absence of readily available risk capital.
Speaking earlier, the Director General (DG), Nigeria Mining Cadastre Office (NMCO), Engr Obadiah Nkom, who spoke elaborately on “Licensing processes and conditions surrounding mining assets,” stressed the imperative of having mining assets licensed.
Giving the vote of thanks, the Executive Secretary (ES) of the SMDF, Hajia Fatima Shinkafi stressed that insights shared during the session would help drive sustainable growth in Nigeria’s mining industry by boosting capital market participation.
Shinkafi, who was represented by her assistant, Omotayo Omitokun, expressed appreciation to all speakers, participants, and stakeholders for their contributions as she reiterated the fund’s commitment to collaborating with stakeholders to unlock the country’s vast mineral wealth in line with the Renewed Hope Agenda of the federal government.