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Alake pledges to make solid minerals a major contributor to Nigeria’s economy

The Minister of Solid Minerals Development, Mr. Dele Alake has pledged that his ministry would actively explore opportunities within the solid minerals sector to bolster the nation’s economic growth.

Mr. Alake conveyed this pledge during a meeting with a delegation from the Miners Association of Nigeria, led by its National President, Mr. Dele Ayanleke.

This information was communicated in a statement released on Monday by Alaba Balogun, the Head of Press and Public Relations at the Ministry of Solid Minerals Development.

During the meeting, Dr. Alake underscored the significance of the Federal Government’s decision to shift its focus from hydrocarbon resources to making the minerals sector a major contributor to Nigeria’s gross domestic product, framing it as a contribution to addressing climate change.

He commended the Miners Association for its valuable recommendations and consistent efforts in organizing the Mining Week.

In his words,

  • “Nigeria has been operating mono- a mono-cultural economy for a long; a shift to solid minerals is overdue. Our vision is to make solid minerals our pride, a major contributor to Nigeria’s gross domestic product. We will diversify from oil, to exploit it for the survival of Nigeria. This is our contribution to climate change.”

FG to engage with state Governors in mining rights issues

The Minister reaffirmed the ministry’s commitment to formulating effective policies that would improve and streamline the regulatory framework, making it more favourable for both local and foreign investors.

Regarding the issue of incursions by subnational governments into mining activities, Dr. Alake assured that the Federal Government would engage with state and local governments to resolve these matters within the boundaries of the law.

Insights

Nigeria is blessed with a plethora of solid mineral resources concentrated mainly in the Northern parts of the country.

Decades of oil exploration ensured the neglect of this equally productive sector, but with the effects of fossil fuels on the environment and the need to transition into cleaner sources of energy, solid minerals have become the new bride.

Mineral resources such as copper, lithium, and silicon are critical in the global energy transition and luckily, they are found in Nigeria.

However, exploiting these minerals comes with challenges as armed non-state actors have taken hold of some critical mining fields coupled with a lack of regulation in the sector, and adequate data to monitor activities and capture investments.

 


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