In a significant move towards economic diversification, the Nigerian government has reaffirmed its commitment to tapping into the potential of the solid mineral industry to boost revenue and create sustainable opportunities. Mr. Dele Alake, Minister of Solid Minerals, speaking on behalf of the government through the Ministry’s Head of Press and Public Relations, unveiled initiatives aimed at revitalising the mining sector. These efforts include cleaning up the mining industry, revamping the regulatory landscape, and enhancing the investment climate to attract both foreign and domestic companies.
One notable advocate for this cause is Lola Oladunjoye, the founder of Lola Fenhirst, an independent, small-batch fine jewellery company. Oladunjoye emphasised the need for sustainable mining practices and the involvement of transnational mining companies (TMCs) to unlock Nigeria’s rich mineral potential.
“Our mineral table is one of the richest, and the potential is enormous,” she stated optimistically.
However, she acknowledged the challenges faced, particularly in creating a conducive framework for sourcing metals and precious stones within Nigeria.
Addressing the sourcing dilemma, Oladunjoye expressed her desire to obtain materials from her home country. However, she lamented the absence of a suitable framework, which currently forces her to acquire most of her minerals and metals from Southern Africa. “Wherever you have effective extractive mining, it’s an economic game changer,” she remarked, underlining the transformative impact a robust mining industry could have on Nigeria’s economy.
Oladunjoye passionately advocated for a comprehensive approach that involves every stage of the jewellery-making process within Nigeria. She highlighted the importance of in-country operations, including extraction, cutting, polishing, sorting, and retail.
Drawing parallels with countries like Botswana, Namibia, and South Africa, where the entire jewellery ecosystem operates domestically, she envisioned a similar strategy for Nigeria.
Reflecting on her personal journey, Oladunjoye explained her transition from law to jewellery branding. Despite a background in law, she felt a deep creative calling within her. “I have another side to my personality that I want to explore,” she shared. Leaving the legal profession in 2015, she ventured into the realm of fine jewellery, founding Lola Fenhirst. Her courage to explore her creative gifts has led her to the helm of a successful jewellery enterprise today.
As the Nigerian government and entrepreneurs like Oladunjoye strive to harness the nation’s mineral wealth, the prospects for economic growth and sustainable development in Nigeria’s mining sector appear promising. The synergy between governmental initiatives and the creative prowess of individuals like Oladunjoye signals a potential renaissance for the country’s mining and jewellery industries.
Kiki Garba.
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