ENR ADVISORY INTERVIEW: “Positioning Nigeria as a global power house in the market for critical minerals”

Exclusive interview with Jumoke Fajemirokun, a partner in ENR Advisory, who are bronze sponsors at the upcoming Nigeria Mining Week.

Welcome to Nigeria Mining Week 2023! Can we start with a quick background of the company and your offering?

ENR Advisory is a law firm based in Lagos Nigeria that focusses on providing legal support within the energy and natural resources sector. This covers oil, gas, mining, power and renewables, and our expertise cuts across the entire value chains in these sectors. We have lawyers who understand the mining business and have been instrumental in shaping policies and legislation within the mining sector.

We provide informed and nuanced legal support to investors and operators in connection with things like mineral rights acquisition and divestments, financing, exploration and mine development operations, negotiating contracts associated with these activities, as well as regulatory compliance.

Any new projects in Nigeria that you are particularly excited about currently?

Generally, it’s the potential for projects focusing on critical minerals such as lithium, graphite, PGMs, nickel and zinc, which are believed to be abundant in Nigeria. The critical mineral potential for Nigeria is particularly exciting at this time given the energy transition and the rising global demand for these minerals. Investors have been showing a lot more interest in Nigeria in recent times and I think it presents an opportunity for the government to be begin to develop and implement strategies that will position Nigeria as a global power house in the market for critical minerals, which can be leveraged upon to drive a resource-based industrialization. So that is what excites us at this time.

Where are you focusing for future growth?

Our focus is to continue to provide support to existing operators in the mining sector as well as new entrants in navigating the complexities of the regulatory framework and also providing robust legal advice that will enable them to manage their contractual, project and regulatory risks while meet their business objectives.

As we know, Nigeria’s mining sector is relatively underdeveloped compared with its African counterparts and we believe that are opportunities for early movers to take advantage of. We are focused on remaining available, ready and equipped to provide the legal support that these early movers would require.

How important is the mining sector for the future of Nigeria’s economy in your view?

The mining sector is extremely important as it holds so much potential for economic growth and economic diversification. Also, unlike petroleum which is concentrated in the southern part of the country over the years, solid minerals are spread across the country with a lot more communities that can benefit from the commercial activities associated with mining operations. As such, it holds great potential for widespread prosperity for its citizens.

Also, as the world moves towards net zero emissions, the sector becomes even more relevant because critical minerals will gradually become the new oil. A clear and focused national strategy for the exploitation of these minerals is crucial to the future of the Nigerian economy.

Is the Nigerian government doing the right things to attract investment and exploitation of the country’s mineral wealth?

Yes, the government has taken some important steps to ease market entry, such as the launch an electronic mining cadastral system. There is also the National Integrated Mineral Exploration Project (NIMEP), which is aimed at generating reliable geosciences data and has helped to de-risk some mining prospects as well as the Presidential Artisanal Gold Mining Development Initiative (PAGMI), which is a programme aimed at fostering the formalization and integration of artisanal gold mining activities. While more needs to be done, these targeted interventions are steps in the right directions.

Also, with recent announcements made by the Minister of Mines and Steel Development setting out the government’s agenda for the mining sector, it is clear that this administration intends to prioritize the mining sector and we are hopeful that over the next few years there will see a stronger political will in implementing the reforms needed to drive the mining sector forward.

You are bronze sponsors of the event. What has been your experience of Nigeria Mining Week over the years?

The Nigerian Mining Week provides an opportunity to reconnect with associates in the industry and establish new ones and get up to date with new projects as well as locally available mining services. I usually find the conference sessions to be engaging and insightful and good for business!

Anything you would like to add?

We are pleased to be partnering with Nigeria Mining Week this year as bronze sponsors. We look forward to the interactions with delegates at conference and developing mutually beneficial and long-term business relationships.

Participate alongside ENR Advisory and participate at Nigeria Mining Week 2023:

Confirm your participation by enquiring about our tailor-made sponsorship opportunities for your organisation. Get maximum exposure and benefits, tailored to meet your specific objectives.

BOOK YOUR SPACE TODAY