The Solid Minerals Development Fund (SMDF) is established under the Nigerian Minerals and Mining Act of 2007 in Section 34 (2) (a-e) to develop human and physical capacity; fund geo-scientific data gathering, storage and retrieval, to meet the needs of private sector-led mining industry; and to equip the mining institutions to enable them perform their statutory functions; and also for funding of extension and advisory services to small-scale and artisanal mining operators pursuant to section 91 of the Act establishing the solid minerals development fund.
To serve as a world-class intervention agency for the transformation and development of Nigeria’s mining industry to be the leading mining destination in Africa
To promote and facilitate sustainable development of solid minerals sector to satisfy the needs of all stakeholders for a modern profitable, robust and reliable mining sector that meets Nigeria’s aspiration for national development. The SMDF is principally focused on supporting programmes and projects that can generate the data required to attract capital into the Nigerian mining sector.
Within the overall scheme of fulfilling its charter of responsibilities and attaining its vision, the SMDF, guided by key critical values seeks to be a self-sustaining mining investment and support organization in the next five years.
Driving Investment in Mining: SMDF’s Catalyst for Economic Growth