The Minister of Solid Minerals Development, Dr. Oladele Alake has reiterated the commitment of the Federal Government to diversify from hydrocarbons to the minerals sector, with the goal of making it a significant contributor to Nigeria’s gross domestic product (GDP).
He emphasised that this represented a strategic shift and a contribution to addressing climate change.
Alake made this statement while receiving a delegation from the Miners Association of Nigeria (MAN), led by its national president, Mr. Dele Ayanleke. The delegation included representatives from the VUKA Group, co-organizers of the upcoming Nigeria Mining Week and PriceWaterhouseCooper (PWC), a prominent accounting firm.
Commending the miners’ association for its valuable recommendations and consistent role in organising the Mining Week, Alake noted that Nigeria has long operated as a mono-cultural economy and stressed that the transition to solid minerals was long 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 own contribution to climate change,” he stated.
In line with this vision, the minister emphasised the ministry’s commitment to formulating necessary policies to overhaul the regulatory framework, making it more favourable for local and foreign investors.
Regarding the issue of incursions by subnational governments into mining activities, Alake expressed the Federal Government’s intent to engage with state and local governments to resolve such matters within the boundaries of the law.
In addressing the need to secure the mining sector environment to optimise its yield for the Federal Government, Alake disclosed that high-end technology would be deployed, alongside an inter-agency task force, to completely address the challenges.
According to a statement by Alaba Balogun, the head of press and public relations at the ministry, Alake sought a partnership with the Miners Association of Nigeria to enhance capacity in this regard, with the aim of fostering the growth and repositioning of the sector.
In his earlier remarks, Ayanleke expressed full confidence in the seven-point agenda unveiled by the minister under the Renewed Hope Agenda of the current administration. He believed that these initiatives would strengthen and enhance the sector’s contributions to national development.