The Federal Government, through the Ministry of Solid Minerals Development, has reaffirmed its commitment to collaborating closely with the Extractive Industries Transparency Initiative (EITI) to enhance transparency and accountability in the solid minerals sector.
The announcement was made by a delegation from EITI during a visit to the ministry.
The Minister of Solid Minerals Development, Dr. Oladele Alake expressed the ministry’s dedication to working with EITI in promoting transparent, accountable resource management and governance in the solid minerals sector. Alake emphasised that the ministry has a history of fruitful engagements with EITI since 2011, resulting in positive impacts on its operations and a commitment to sectoral reforms.
The minister underscored the ministry’s alignment with EITI’s global principles of reliable information, data accuracy, good governance, transparency, and accountability. He highlighted the deliberate application of these principles in the plans and policies of the current administration under President Bola Ahmed Tinubu, intending to reform the mining sector.
Alake stated, “The new administration is more than determined to reform our country’s mining sector to overtake oil and gas in revenue generation, investment interests, and as an alternative domestic resource mobilisation base, job creation, and poverty reduction options”.
Acknowledging the impact of the partnership with EITI, the minister affirmed NEITI’s role as a dependable ally and partner in data generation, analysis and utilisation for national planning and development. Regarding NEITI’s 2021 report, Alake assured the delegation that efforts were underway to address the recommendations and strengthen the ministry’s operations.
The minister expressed satisfaction with the ministry’s overall score of 72 per cent in the global EITI assessment known as validation. He noted that this score indicated the credibility and global acknowledgement of NEITI reports, emphasising their alignment with the Federal Government’s economic agenda and national priorities.
The executive secretary of NEITI, Dr. Orji Ogbonnaya Orji explained that the EITI delegation briefed the Ministry on areas of support to strengthen its operations, particularly with agencies under the ministry. A member of the delegation, Mr. Bady Baldi commended Nigeria’s achievements in implementing EITI objectives, citing the establishment of an electronic cadastre system as a notable milestone.
In conclusion, the ministry’s deputy director of information, Alaba Balogun, reiterated that the policies of the Ministry of Solid Minerals Development are geared towards ensuring transparency and accountability in the sector. The collaborative efforts between the ministry and EITI signal a significant stride towards transformative changes in Nigeria’s mining industry.
