The Minister of Solid Minerals Development, Dr Dele Alake, says the Federal Government would make solid minerals the most valuable resource that will surpass crude oil’s contribution to the nation’s Gross Domestic Product (GDP).
Alake, while restating the commitment of the ministry to revolutionising the mining sector for productivity, said President Bola Tinubu is committed to diversifying the Nigerian economy from age-long dependency on oil to solid minerals
The minister said this at the three-day eighth edition of the Nigerian Mining Week in Abuja on Wednesday, October 18, 2023.
He said: “Nigeria has a surfeit of most sought-after critical minerals. The desired minerals in the world today, we have in abundance. What is needed is the methodology, strategy, and tactics to ensure the efficient and proficient exploration, exploitation, and expenditure of the accruable resources, and government cannot do it alone.
“Yes, we are doing our own part by creating an enabling environment, making sure that the operating environment is conducive to you, the players in the industry. But you are the players. Without your active collaboration and support, through ideas, suggestions, comments, views, and, in fact, insightful penetrating questions, we will not be able to translate that vision into reality.”
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Stressing the commitment of the government to guarantee security which he described as the “most critical factor of operation”, the minister stated that plans are underway to rejig the security architecture which he said will take the form of inter-agency structure with an infusion of technology to ensure that those that are genuinely licensed have a peaceful environment to operate, reduce frictions between operators in the field and their host communities towards achieving the administration’s objectives of maximally exploiting the country’s God-given resource for economic development.
Alake further announced plans to establish administrative structures and mechanisms that will make the sector attain its pride of place in Nigeria’s socio-economic structure.
H added: “We want to ensure that within the next couple of months, in the short term, and few years in the longer term, the mining sector contributes significantly to the Gross Domestic Product (GDP) of Nigeria and it becomes the next critical resource of Nigeria’s economic survival. We want to ensure that the solid minerals sector takes over from oil as Nigeria’s major revenue earner.”
Whilst thanking the organisers and partners of the 2023 mining week, Alake stated that the event has witnessed robust engagements, cross-fertilisation of ideas that will result in new methods of implementing, and executing policies that will be conceptualised by the government.
He stressed that the partnerships forged will herald a symbiotic relationship between the federal government and industry stakeholders.
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