The Investment Promotion and Mineral Trade Department aims to increase investment by creating awareness on the activities in the mining sector. The department enhances the ministry’s capacity to provide through research, relevant information that will enhance and promote global competitiveness that would attract more investments into the Nigerian mining sector. Also, it provides a platform to better equip and take on the responsibility for tracking local and international developments and trends in solid minerals investments nationwide.
Roles & Responsibilities of the Department
The key roles and responsibilities of the IPMT Department include the following:
a. Serve as a One-Stop-Shop to assist and support prospective investors in their quest to explore and exploit Nigeria’s mineral resources.
b. Promote the activities of the Ministry and the mineral potential of the country.
c. Interface between the Ministry and Stakeholders.
d. Gather and publish geological information, maps and reports for public use.
e. Disseminate, through the internet and the mass media, information on the country’s mineral potential, the mineral sector legal and regulatory and fiscal regimes, and other useful information for investors.
f. Maintain an up-to-date geological and mineral titles data bases in consultation with relevant departments and agencies of the Ministry.
g. Collate and publish brochures on Nigeria’s mineral sector.
h. Participate in both local and International mineral conferences, symposia, workshops, seminars, gem shows and promotional tours.
i. Conduct research in mineral market fundamentals such as, minerals demand and supply; past, current and forecasts prices.
j. Provide information particularly to local investors on mineral market trends.
k. Prepare quarterly and annual reports on Nigeria’s mineral industry
l. Maintain a database of investors activities, their level of investment in mineral exploration and exploitation as well as publicize and promote such investments
Projects & Programmes of the Department
a. International and regional mining investment, promotion and trade – This project is aimed at showcasing and disseminating information on the solid minerals potentials of Nigeria to attract international investors at mining conferences and exhibitions worldwide. This will help to accelerate the mining sector’s investment growth.
b. National Trade Fairs – The aim of this project is to attract mining investment through organizing and participating at Annual mining conferences, summits, exhibitions and road shows across the country.
c. Subscription to international Mining Journals – This project is geared towards increasing investments in the mining sector by disseminating relevant information on the mineral resources of the country.
Head of Department
Provide one-stop-shop services to assist and support prospective investors seeking to harness the nation’s Solid’s mineral resources.
Promote the activities of the ministry, mining sector and solid minerals through participation in both local and International mineral conferences, symposia, workshops, seminars, gem shows and promotional tours.
Conduct research on the mineral market, Mineral occurrences, supply and demand for energy, metals, and non-metallic or industrial mineral resources. It also valuation of Mineral deposits, Exploration and Production cost analysis, Transportation and Marketing studies, as well as inquiries into historical use, future markets, and substitution potential for the various mineral commodities
i. Promote public private partnership (PPP) in the Nigerian Mining sector.
ii. Connect foreign and local investors to mining companies in Nigeria.
i. Management of files and staff records.
ii. Provide logistics assistance to the department.
iii. Ensure availability of stationeries and other working tools.