Minister of Solid Minerals Mr. Dele Alake, has announced plans to significantly bolster Nigeria’s economy by contributing a minimum of 50%. He emphasized his ministry’s commitment to attracting Foreign Direct Investment to the nation. The ministry is adopting a comprehensive seven-point agenda, which includes the establishment of the Nigerian Solid Minerals Corporation, forging Joint Ventures with global mining conglomerates, leveraging Big Data for seven priority minerals and their deposits, offering a 30-day grace period for illegal miners to join artisanal cooperatives, implementing Mines Surveillance Task Force and Mine Police initiatives, conducting a comprehensive review of all mining licenses, and establishing six Mineral Processing Centers to concentrate on Value-Added products.
In explaining the ministry’s approach, the minister asserted, “To harness the trillions of dollars’ worth of minerals beneath our soil nationwide, the Ministry must confront the challenges head-on. Achieving this noble objective necessitates a strategic shift, focusing on the human and financial resources capable of driving its transformation.”
Regarding the creation of the Nigerian Solid Minerals Corporation, the minister stressed the significance of mining as a lucrative industry and advocated for Nigeria to establish a strong presence, similar to its strategic positioning in the petroleum sector. He added, “In line with this vision, the Ministry will work towards the incorporation of the Nigerian Solid Minerals Corporation.”
