Alake commits to elevating solid minerals as a significant source of revenue for Nigeria’s economy.

admin October 10, 2023
Updated 2023/10/10 at 11:05 AM

The Minister of Solid Minerals Development, Mr. Dele Alake, has made a commitment to actively pursue opportunities in the solid minerals sector to support the country’s economic growth.

This promise was expressed during a meeting with a delegation from the Miners Association of Nigeria, led by its National President, Mr. Dele Ayanleke.

The statement was released by Alaba Balogun, the Head of Press and Public Relations at the Ministry of Solid Minerals Development.

During the meeting, Dr. Alake emphasized the importance of the Federal Government’s decision to shift its focus from hydrocarbon resources to the minerals sector, which he believes will contribute significantly to Nigeria’s gross domestic product and help address climate change.

He praised the Miners Association for their valuable suggestions and ongoing work in coordinating the Mining Week.

In his statement, he expressed, “For a long time, Nigeria has been relying solely on a monocultural economy. It is now time to switch to solid minerals. Our goal is to establish solid minerals as a source of national pride and a significant contributor to Nigeria’s gross domestic product.

We aim to diversify from oil and use it to sustain Nigeria. This is our way of addressing climate change.”

The Federal Government (FG) plans to interact with state Governors to address concerns regarding mining rights. The Minister affirmed the ministry’s dedication to creating effective policies that will enhance and streamline the regulatory framework, benefiting both local and foreign investors.

The Minister also assured that the FG will work closely with state and local governments to resolve any issues in relation to their involvement in mining activities, all while staying within legal boundaries.

Key considerations:

  • Nigeria has a vast array of solid mineral resources primarily located in the Northern regions.
  • Due to the environmental impact and the necessity to transition to cleaner energy sources, the solid minerals industry has become increasingly important, after years of neglect due to the focus on oil exploration.

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