In a strategic move to foster economic growth and development in the mining sector, the Federal Government, through the Ministry of Solid Minerals Development, has expressed its commitment to collaborate and partner with Bauchi State, a region richly endowed with minerals.
The Minister for Solid Minerals Development, Dr. Oladele Alake conveyed this intention during the visit of the Bauchi State governor, Sen. Bala Mohammed, to the ministry’s headquarters in Abuja. The governor was accompanied by commissioners holding various portfolios.
Alake underscored the mineral wealth of Bauchi State and praised the determination of Governor Bala Mohammed to develop the sector. He emphasised that this aligns with the agenda of President Bola Ahmed Tinubu’s administration to diversify the economy, utilising the solid minerals sector as a pivot to transform the economy, generate employment and increase government revenue.
Highlighting the urgency of economic diversification, Alake referred to the global shift from fossil fuels to green energy, citing the growing demand for cleaner energy, such as the manufacturing of electric cars. He stressed, “So if we do not take conscious steps, our country could be in dire straits. For our economic survival, we must diversify”.
Discussing the ministry’s activities and achievements under his leadership, Alake mentioned deliberate policies and proactive measures taken to sanitise the sector, including advocacy visits to international mining forums in Perth, Australia; UNGA meeting (New York, USA) and Saudi Arabia to attract foreign investors. He reported that these efforts had garnered significant global attention and support from foreign investors.
Alake also emphasised the ministry’s commitment to promoting and encouraging local investment in the sector by creating a conducive environment. He highlighted the importance of sustained collaboration between federal and state governments to reduce friction. He noted that states can now apply for mining licenses and mine within their territories, contributing necessary royalties and taxes to the Federal Government.
In response, the governor affirmed Bauchi State’s commitment to partnering with the Federal Government to maximise the benefits of minerals like lithium, lead, tin, columbite and kaolin. He expressed full support for the ministry’s policies and proactive programs to sanitise the mining sector.
Governor Mohammed stressed that, with the global shift towards solid minerals and green energy, Bauchi State would align with the Ministry’s policies. He specifically mentioned promoting value addition to mineral processing within the state and creating a special-purpose vehicle to develop the sector.
This partnership between the Federal Government and the state signifies a collaborative effort to tap into the immense potential of the mining sector, contributing to economic prosperity and sustainable development.
