FG Set to Make Solid Minerals Nigeria’s Major Revenue Earner

Date:

As the eighth edition of the Nigerian mining week comes to a close, the Minister of Solid Minerals Development, Dr. Dele Alake reaffirmed the resolve of the Tinubu administration to make solid minerals the most valuable resource that will exceed crude oil’s contribution to the nation’s Gross Domestic Product (GDP).

While restating the commitment of the ministry to revolutionising the mining sector for productivity, Dr. Alake delivered President Bola Tinubu’s message of complete and unreserved support for resolutions of mining industry stakeholders as embraced in the 3-day mining week which he said is in line with the President’s vision of diversifying the Nigerian economy from age-long dependency on oil to solid minerals.

”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, the strategy, and tactics to ensure the efficient and proficient exploration, exploitation, and expenditure of the accruable resources, therefore, and the 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.” the Minister said.

As he thanked and commended the organisers and partners of the 2023 mining week, Dr. Alake revealed 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 emphasised that partnerships formed will usher in a symbiotic relationship between the Federal Government and industry stakeholders.

”On our part, I can assure you that the President has pledged to increase funding into the mining sector through the Federal Ministry of Solid Minerals. With such funding, we can then embark on those very significant steps that we need to take, going forward: such as generating the big data – about the how, and where of mineral resources, without which we can not begin to talk about any serious implementation of policies or attracting the much needed foreign investments.” the minister affirmed.

Speaking further, Dr. Dele Alake announced plans to establish administrative structures and mechanisms that will make the mining sector reach its pride of place in Nigeria’s socio-economic structure.

“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, “the Minister concluded.

 

 

 

 

 

 

 

Share post:

Subscribe

spot_imgspot_img

Popular

More like this
Related

STERLING BANK AND AFREXIMBANK LAUNCH INNOVATIVE SUPPLY CHAIN FINANCING SOLUTION

Sterling Bank, in collaboration with the Africa Export-Import Bank...

MONIEPOINT MICROFINANCE BANK INTRODUCES NEW USSD SERVICE

Moniepoint Microfinance Bank, renowned as Nigeria's leading bank for...

FCTA WARNS PROPERTY DEVELOPERS TO VERIFY LAND OWNERSHIP BEFORE PURCHASE

The Federal Capital Territory Administration (FCTA) has issued a...

FIRST BANK LAUNCHES DIGITAL EXPERIENCE CENTRE IN BANANA ISLAND, LAGOS

First Bank of Nigeria Limited has unveiled its new...