Dele Alake, the Minister of Solid Minerals, has proposed a N200 billion budget allocation toward a big data exploration project which already exists.
As part of his 7-point agenda, he stated that the big data project is aimed at attracting foreign investors to Nigeria’s solid mineral sector which was not mentioned before.
According to report, it is curious to hear the Minister advocate for a N200 billion budget for mining data gathering, especially when we already have a well-established geodata infrastructure in place.
Global consulting firm KPMG released a mining sector watch report in May of 2023 titled “FG Launches the National Geodata Centre”.
The report states that “In fulfilment of the FG’s promise made in 2021 the minister of Mines and Steel Development recently unveiled the National Geodata Center (NGC), located at the Nigerian Geological Survey Agency (NGSA) with an arm at the National Steel Raw Material Exploration Agency (NSRMEA).
“The electronic data facility is expected to enhance the ease of online access to appropriate (reliable and up to date) geological reports and data about mineral reserves and/or deposits in the country.
“The facility, which can be viewed as an “electronic geodata bank” is aimed at boosting
investment decisions, research, and the overall ease of doing mining business in the country.
“This initiative is highly laudable, given that reliable geological data is the foundation of any mining investment. We commend the Ministry on achieving this feat. The NGC will no doubt increase the attractiveness of the Sector to both foreign and local investors, act as a driver for economic diversification, and assist in creating a globally competitive sector.
The Nigerian Geological Survey Agency home page shows an existing research report that they already released.
There is also a solid mineral development fund set up to invest in the sector. One cannot invest without data.
