Report: The Nigerian Economic Summit Group Solid Minerals Development Thematic Group Stakeholders' Dialogue (April 2018)

On Tuesday, 10 April 2018, I had the rare privilege to be part of the High Level Stakeholders' Dialogue with the Nigerian Economic Summit Group (NESG) Solid Minerals Development Thematic Group held in Lagos, Nigeria, in my capacity as the Managing Partner of Primus Grace LP.

The #NESG #Solid #Minerals #Development #Thematic #Group is mostly focused on maximizing the solid minerals Nigeria has to their fullest potentials, while giving benefits to all relevant stakeholders and adding value to all.

Inspired by the brilliant Keynote Speech from Prof. Gbenga Okunola, the Chair of the #NESG #Mining #Thematic #Group and a distinguished #Professor of #Geology from the #University of #Ibadan, #Nigeria and another fantastic presentation on the NESG Mining Thematic Group Workplan by Mr. Femi Awofala, the Chief Executive Officer at #Brickstone Partners Limited (a major driving force in the #NESG #Solid #Minerals #Development #Thematic #Group), I recommended the #FDIC approach to the distinguished members of Group.

The FDIC approach, a strategy I came up with while at the High Level Stakeholders' Dialogue, entails the following:

F stands for #Formulation of relevant, workable and practicable #policies, focused mainly on getting the best result through the use of (international) best practices, boosting investors' confidence in the Solid Minerals sector, increased public private partnership, removing regulatory uncertainties, providing a more favorable investment climate, whilst catering for the interests cum concerns of all relevant stakeholders.

D stands for #Direction that should be provided by the NESG Solid Minerals Thematic Group, given how strategically placed the NESG is and how lots of people look to the NSEG for both practicable solutions to the prolonged issues in the Solid Minerals Sector in Nigeria and world class thought leadership. In providing support for my position, I succinctly noted that given that the NESG is a platform that brings together private sector leaders and senior public sector officials to discuss and dialogue on the future of the Nigerian Economy, with a mandate to promote and champion the reform of the Nigerian economy into an open, private sector-led globally competitive economy, having emerged as the most important platform for public-private dialogue in Nigeria.

I stands for #Implementation. I opined that Beyond the brilliant paper work, formulation of policies and direction to be provided for the sector to move forward, it is pertinent for the Group to ensure that the gap between what is known and what is done is bridged. I equally stated that it is not enough to have brilliant ideas in writing prepared by the best brains without execution of such brilliant ideas. I underscored the fact that the major problem we had in the past and perhaps even in the present is not that we do not know but more often than not, we rarely implement the things we know. Hence, the NESG should leverage on its existing network, to see that the needful is done.

C stands for #Collaboration: I equally underscored that the Group needs to collaborate with all relevant stakeholders in achieving the desired objectives and driving the change we need in the Solid Minerals Sector in Nigeria.