NMGS Warns Poor Funding, Policy Failures Threaten Nigeria’s Development

Folalumi Alaran in Abuja

The Nigerian Mining and Geosciences Society (NMGS) has decried the lack of effective funding and policy implementation in Nigeria’s mineral, energy, water, and construction sectors, warning that without urgent intervention, the country’s developmental strides will remain stunted.

Speaking at a press briefing in Abuja ahead of the 60th Annual International Conference and Exhibition (AICE), NMGS President, Prof. Akinade Olatunji, emphasized that while budgetary allocations may exist, the inability to access and efficiently deploy these funds has crippled efforts to maximize the country’s vast natural resources.

“Budgetary provisions are one thing; actual release and proper utilization of funds are another. We cannot continue to allocate funds on paper without ensuring they are accessible to drive research, exploration, and development,” Olatunji stated.

The conference, which is scheduled to take place from February 16 to 21, 2025, in Abuja will bring together top industry players, policymakers, and researchers to chart a new course for Nigeria’s natural resource sector. With the theme, “Transformation of the Mineral, Energy, Water and Construction Sectors through Innovations,” the event aims to highlight the role of geosciences in sustainable national development.

Olatunji stressed that while Nigeria possesses the requisite expertise to drive transformation across these key sectors, inadequate funding and lack of strategic policy execution remain the missing links.

“The Nigerian nation is in dire need of solutions, and what we are saying as NMGS is that these solutions already exist within our grasp. But without the right financial and policy backing, we will continue to talk about potentials instead of seeing results,” he said.

The conference is expected to feature extensive discussions led by experts across the energy, solid minerals, oil and gas, and construction industries.

International delegates from Ghana, Cameroon, and Ethiopia will participate in sessions on Pan-African resource management, while leading academics from Cardiff University and other institutions will present research on water resilience, environmental hazards, and food security.