A former Chairman of the Non-Metallic and Minerals Products Sectoral Group/Council Member of the Manufacturers Association of Nigeria (MAN), Mr. Afam Mallinson Ukatu, has urged the Federal Government to channel energy and focus more investment in the non-metallic mining sector.

Ukatu, who is also the Managing Director/Chief Executive Officer (CEO), Mallinson & Partners, stated in Lagos that the mining sector was the next cash cow to recalibrate the country’s fragile economy.

While describing the sector as very rich with enormous potential, the MAN Council member said it cost less to invest in the mining sector than in the oil sector, adding that it had more returns on investment for investors and GDP.

Ukatu said: “Once again, I wish to use this opportunity to call for more investment in the non-metallic mining group sector of MAN. This is because this sector, if well harnessed can lift Nigeria out of the economic quagmire. This sector is very rich.

“Moreover, until the country looks away from the oil sector, it will be very difficult to come out of the woods. Important to note is that it costs less to invest in the mining sector than in the oil sector, which has more returns on investment.

“On this note, I urge the Federal Government of Nigeria to urgently rework the policies of the sector, which has gone obsolete, to make it more investment-friendly and attractive.”

Expatiating the potential of the mining sector, Ukatu said that the mining sector and its values chain could generate over 15 million jobs (direct and indirect jobs), thereby addressing the ever-growing unemployment ravaging the country.

While he emphasised that innovation, technology, and sustainability are key drivers of growth, he added that as the government shifts focus towards economic diversification, the mining sector “stands poised to play a pivotal role in Nigeria’s future development.”

The industrialist explained that irrespective of the various obstacles “we face, ranging from infrastructure deficits, regulatory burdens, the threat of substandard imports, and massive invasion of the sector by some foreigners who connive with some unpatriotic Nigerians to disorganise the sector, the players in the sector remained resolute.”

On the rule of law, Ukatu advised the government to look into multiple taxes and how it is administered. “The three tiers of government should encourage more people to participate in mining and give others the opportunity to come up, knowing what is needed to boost the country’s GDP.

“Our industry has shown resilience, and with pragmatic solutions, and we must be prepared to compete both locally and across the continent.

Together, we can drive our sector toward greater achievements and ensure our competitiveness on a global scale,” he added.