SMDF, NASD Move To Unlock $700b Capital Market Funding for Nigeria’s Solid Minerals Sector

"Despite Nigeria’s vast endowment of strategic and precious minerals across all 36 states and the FCT, the sector contributes less than 1% to the nation’s GDP." Shinkafi, Executive Secretary SMDF.

In a move described as strategic which aims to bridge the gap between technical mining capacity and financial innovation, the federal government has initiated the unlocking of an estimated $700 billion mineral wealth through a landmark partnership between the Solid Minerals Development Fund (SMDF) and National Association of Securities Dealers (NASD).

This was the disclosure of Mrs. Fatima Shinkafi, the Executive Secretary of SMDF,  represented by Abdulmajeed Amussah, Technical Adviser while giving his presentation at the ongoing 10th Nigeria Mining Week in Abuja on Wednesday.

Amussah described the collaboration as a “forward-looking effort to integrate market-based funding solutions into the solid minerals value chain,” noting that it will “redefine mining finance by mobilising domestic and foreign capital through structured, transparent, and innovative instruments.”

Highlighting the significance of the initiative, Amussah observed that despite Nigeria’s vast endowment of strategic and precious minerals across all 36 states and the FCT, the sector contributes less than 1% to the nation’s GDP.

“With the right data, transparency, and investment platforms, Nigeria can replicate the transformation achieved by countries like Botswana and Australia, turning mineral resources into shared prosperity and sustainable national growth,” he said.

He explained that the SMDF–NASD partnership would open structured investment pathways for mining companies, particularly newly licensed operators, through NASD’s Digital Securities Platform (DSP).

According to him, the collaboration will deliver tangible value through project pipeline development, capacity building, investor protection, and post-issuance governance, thereby boosting confidence and accountability in the mining ecosystem.

“The future of funding for Nigeria’s solid minerals sector lies in innovation,” Shinkafi affirmed through her representative, urging investors, regulators, and operators to seize the opportunity to align finance and mining for sustainable national transformation.