Giving the keynote address at the annual conference of the Nigerian Mining and Geosciences Society (NMGS) on Tuesday, Alake, represented by the Director-General of the Mining Cadastral Office (MCO), Engr. Obadiah Nkom hailed the professional services rendered by mining engineers and geologists in areas of exploration and extraction, emphasising that without their input, mining operations would have been a herculean challenge. 

Speaking further, the minister charged the society to partner with the Nigeria Geological Survey Agency (NGSA) by sharing new findings to ensure that the agency becomes a repository of accurate data that will guide prospective investors in making informed decisions about the mining sector. 

“It is now very obvious that unless we come together to build the NGSA as a data behemoth that commands the respect of investors and financiers locally and internationally, our efforts to transform the sector will not be sustained, he said. 

Alake also urged mining professionals to focus on improving their skills and knowledge to earn the respect of their counterparts globally, emphasising the imperative of putting in place technical instruments germane to the development of the scientific reporting system in line with the Pan-African Reporting Code (PARC) developed by the African Minerals Development Centre (AMDC).

Stressing the need to groom a new generation of mining professionals, the Minister urged NMGS to focus on sensitising students in secondary schools on the imperative of pursuing careers in mining sciences. 

“Let us recognise the need to build a good foundation for the next generation of mining engineers and geologists. As we sit here, many students in secondary schools are about to choose their career paths. How many teachers and counsellors know about the geology and mining professions?

“Most of the students are going to be advised to choose the traditional disciplines. I therefore urge the NMGS to engage in enlightenment at the secondary school level, to initiate contests and activities that will make many youths see the advantages of pursuing careers in mining sciences, Dr. Alake added.

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Prof. Gbenga Okunlola, the President of the society, who gave the advice in an interview with the News Agency of Nigeria (NAN) in Abuja, said that although work at the plant had reached 98 per cent completion, Nigeria still require $4bn (N1.2 trillion) to complete the construction.

Okunlola said the society had advised the government to run the company as a private entity and not as a government driven company.

According to him, government may not be able to raise the fund at this time of recession and as such, the way out is concessioning

“Government has no business in steel production; Ajaokuta must be concession to private company that has experience in steel production.

“One of the strengths of a country is the steel industry,’’ Okunlola said.

He said there should be holistic and stringent arrangement with whoever the company would be given on concessional basis, to avoid mismanagement.

The society’s president said the steel company could create 200,000 direct and indirect jobs, when it becomes operational.

He added that the company would also reduce importation of steel into the country.

NAN recalls the federal government in August 2016, re-concessioned the National Iron Ore Mining Company [NIOMCO] at Itakpe to Global Infrastructure Holding Limited (GIHL), an India company, but took full control of the Ajaokuta steel company.

Former President Olusegun Obasanjo’s administration had concessioned Ajaokuta steel and NIOMCO to GIHL in 2004 and 2005 respectively.

The Indian firm, however, did not live up to expectations in managing the two companies.

Consequently the federal government, under the late Umaru Yar’Adua, revoked the Ajaokuta concession contract in April 2008.

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Saraki according to a statement by his Chief Press Secretary, Sanni Onogu, in Abuja, stated this when he received the national executive of the Nigerian Mining and Geosciences Society (NMGS) led by its President, Professor Olugbenga Okunola.

He said the Senate is on a mission to ensure that the country harnesses her non-oil resources and achieve full diversification of the economy.

“For us in the 8th Senate we have said it that our focus is to continue to give support to those sectors of our economy that will provide employment, increase the earnings of government and the growth of the economy in general.

“And if you are talking about the growth of the economy, you have to give particular consideration to the mining sector. And what do we need to do to get that done? I want to assure you that the message I will like you to take away is that the 8th Senate is ready to give all the support in ensuring that we truly begin to harness the hitherto the unexplored and neglected potentials that we have.

“We have been talking about these potentials for a long time. It is time to talk about realising the potentials and translating them to economic power. how to bring. That is our own vision and mission.

“We have all seen the downside of being a mono-product economy. We are all suffering from it now. When you see what is happening to our revenues, our foreign exchange inflows and particularly what is happening to even the foreign exchange rate due to our over dependence on crude oil.

“The projections that it is going to be down for a couple of years means that any serious minded country needs to look at the options available. And some of the things we are seeing now is because there is a lot of speculation out there.

“A lot of the speculators believe that we don’t have the political will to see through some of the policies and programmes aimed at diversifying the economy and that is why you see a lot of them are betting against the Naira. That is why you see all of a sudden, the Naira is rebounding because they are beginning to see that it appears that this government is committed on its policy.

“I want to assure you that we are committed. The political will is there. We are very determined to see that we diversify. All these things you are talking about are well known to a lot of us. The frustration has een that we have not been able to see it through. I want to assure you that this Senate is committed to ensure that we support the executive in sustaining these long term polices. This is important and that is where we must start from,” he said.

Earlier, Professor Gbenga Okunola, said the Society visited the Senate President to among others appreciate what the 8th Senate has been doing.

He said: “We have been talking about diversification of the nation’s economy over the years….I think as a society, as professionals, this is what we have been clamouring for over the years that we are sitting on buried riches and that the government is now saying that they want to take this serious gladdens us.

“That is why we are here to appreciate this government for what they are doing and we are ready to offer our professional help – we are not talking in terms of financial reward – but this is one thing we want to offer our country,” he said.

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