Nigeria’s drive to attract investment into its solid minerals sector is being undermined by insecurity, regulatory conflicts, illegal mining and infrastructure gaps, industry stakeholders have warned, despite evidence that large-scale commercial gold production can succeed in the country.
The concerns came to the fore at the opening of the 11th Nigeria Mining Week in Abuja, where stakeholders stressed that predictable regulations, improved security and coordinated government policies were critical to turning Nigeria’s mineral wealth into bankable projects and sustainable economic growth.
The President of the Miners Association of Nigeria, Oba Ayandele Ayanleke, identified insecurity along mining corridors and conflicts between the federal and subnational governments over regulation as major challenges confronting operators and investors.
Ayanleke said greater clarity in the regulatory environment was necessary to strengthen investor confidence, while collaboration among local and international stakeholders would facilitate the exchange of technology, ideas and capital needed to expand mining activities.
He urged stakeholders to use the annual gathering to advance practical solutions to the challenges facing the industry, although he noted that its immediate economic benefits could be difficult to quantify.
On a recent mining incident, Ayanleke said the government had established an investigative panel and urged stakeholders to await its findings.
The concerns were reinforced by the Country Manager of Segilola Resources Operating Limited, Austin Menegbo, who disclosed that the company produced 91,910 ounces of gold in 2025, with Nigerians accounting for 99 per cent of its workforce.
Menegbo said Nigeria needed to build on the performance of its first large-scale commercial gold mine to establish a more competitive mining industry capable of attracting further investment and creating economic opportunities.
He identified regulatory uncertainty, poor coordination among government agencies, illegal mining, insecurity, infrastructure constraints and limited access to finance as persistent obstacles to the sector’s development.
According to him, a more efficient approval process, predictable regulatory timelines and sustained engagement among government, mining companies, investors and host communities would help improve the operating environment.
He also called for the formalisation of artisanal and small-scale mining through safety training, access to finance, technical support and cooperative structures, stressing that industry growth must be matched by environmental protection, workers’ safety and responsible community engagement.
The Head of Mission of the Swedish Embassy in Nigeria, Ambassador Anna Westerholm, said international partnerships could help Nigeria strengthen its mining industry through technology transfer, automation, skills development and responsible mineral production.
She said mining investment must deliver benefits beyond mineral extraction, including local value addition, workers’ safety, community welfare and transparency.
Westerholm also highlighted mineral traceability as an increasingly important consideration in international markets, noting that the ability to verify the origin of minerals and the conditions under which they were produced could improve Nigeria’s competitiveness.
She said Sweden was ready to deepen cooperation with Nigeria through technical expertise, trade and investment partnerships.
Earlier, a Partner and Mining Industry Leader at PwC Nigeria, Cyril Azobu, said the country needed to convert its mineral potential and growing international interest into bankable projects capable of attracting capital and generating sustainable economic benefits.
Azobu said achieving this would require a predictable investment environment and stronger partnerships linking domestic opportunities with international finance, technology and expertise.
He also stressed the need to move beyond the export of raw minerals towards domestic processing and value addition, which could increase the economic benefits retained within the country.
The 11th Nigeria Mining Week is being held under the theme, “Unlocking Investment and Growth through Partnerships.”
