A Business Development and Marketing Manager at Dragon Abundant International Limited, Mr. Shedrach Deshi has called on the Nigerian government to address security concerns to boost both local and foreign investments in the country’s solid minerals sector.
In an interview with Voice of Nigeria in Abuja, Mr. Deshi emphasised the importance of Lead/Zinc as a key mineral resource for Nigeria’s economic growth.
He pointed out that while Nigeria is endowed with significant Lead/Zinc deposits, these resources are not being fully exploited.
‘Lead/Zinc deposits, which contain Zinc, are vital for various industrial applications, including manufacturing and galvanizing. Despite having substantial deposits, we are not leveraging these resources effectively. The demand for Lead/Zinc is high, and Nigeria has the geological potential to meet this demand,’ Mr. Deshi explained.
He highlighted several challenges facing the Lead/Zinc mining sector in Nigeria, including insufficient productivity, lack of investment, and in
adequate infrastructure.
‘There are several issues impacting Lead/Zinc mining. Firstly, productivity is low and does not meet local and international demands. Secondly, there is a significant lack of investment in the sector. Thirdly, poor infrastructure, such as inadequate transport networks and energy supply, hampers operations. For instance, poor road conditions can delay shipments, affecting turnaround times. Despite government efforts to address these issues, regulatory challenges and security concerns, including kidnapping and banditry, continue to impact production,’ Mr. Deshi noted.
He also outlined potential opportunities for the Nigerian Lead/Zinc mining industry, including the need for increased capital investment, improved infrastructure, better regulatory frameworks, technology transfer, and enhanced security measures.
‘Increasing investment in mining operations could boost productivity to meet both local and international demands. Improvements in infrastructure, such as road networks and ener
gy supply, are crucial. Enhancing the regulatory framework and transferring advanced technology will also help address sector bottlenecks. Additionally, improving security is essential for boosting investor confidence and increasing production,’ Mr. Deshi said.
Regarding regulatory requirements, Mr. Deshi outlined the necessary compliance measures for both local and foreign investors, including adherence to the Mineral and Mining Act of 2007, registration with the Nigerian Investment Promotion Commission, and compliance with environmental regulations. Foreign investors must also obtain the required permits, licenses, and approvals, and maintain accurate records.
‘The regulatory landscape includes compliance with mining laws and environmental regulations, registration with relevant investment agencies, and obtaining necessary permits. Foreign investors must also adhere to tax and expatriate regulations and engage legal and regulatory experts,’ Mr. Deshi added.
Source: Voice of Nigeria