Thursday, June 13, 2024
Advertisement Topt



Alake: My goal is to ensure Nigeria becomes global mining destination

Alake: My goal is to ensure Nigeria becomes global mining destination
April 29
20:51 2024

Dele Alake, minister of solid minerals development, says his objective is to make Nigeria a global mining destination in history.

According to a statement by Segun Tomori, his media aide, Alake spoke while delivering his key note address at the mining conference organised by the Nigerian Institute of Policy and Strategic Studies (NIPSS) on Monday.

Giving a progress report of the implementation of the ministry’s seven-point agenda, Alake said with the ongoing efforts to sanitise and reposition the mining sector, Nigeria is poised to become a top global mining destination.

The minister said efforts to market the mining sector is yielding results as global mining company — Glencore — recently expressed interest in Nigeria’s mining sector.


“As the foremost government think-tank, this stakeholders’ roundtable will enrich NIPSS analysis of the sector and recommendations on the steps to be taken to enable the sector deliver on its mandate,” Alake said.

“My objective as the minister is to work to ensure that Nigeria becomes a global mining destination for the first time in history and we are working to make this happen by alleviating bottlenecks and addressing salient challenges that have plagued the sector for decades.”

The minister said the icreasing demand for the services of newly established mining marshals by mining firms has confirmed support of the industry.


He said in response to the demands, the mining marshals are currently in Osun, Kogi, Kwara and Nasarawa states, resulting in the arrest of some culprits.

He emphasised that the mining marshals are the coercive component of the administration’s carrot and stick approach to combating illegal mining undermining security in the sector.

Alake said the component, which entails artisanal miners forming cooperatives to legalise their operations, has yielded fruits as 152 new cooperatives came on board between September last year and last month.

Highlighting other achievements of the agenda, the minister said the processes for enacting legislations for the establishment of the Nigerian Solid Minerals Corporation is already underway in the national assembly, through the house committee on solid minerals development.


“We are working with consultants to ensure the smooth emergence of a corporation which will be private sector driven,” he said.

“We are looking at a corporation with a structure that has 50% equity for the private sector; 25% for members of the public; 25% for the federal government.

“Our vision is to erect private sector-led enduring structures for the corporation that will foster efficiency, outlive the present administration, and consequently wean it from future government interference.”



Emphasising the importance of generating comprehensive data of mineral deposits to derisk the sector, Alake said in collaboration with the World Bank, an aeromagnetic survey has been conducted across the country which has given a superficial analysis of mineral spread and deposits.

He added that a more detailed exploration is being pursued to enable investors make informed investment decisions.


“The importance of data for investors can not be overemphasised. With accurate data, investors will be able to project the commercial value of mineral deposits and make informed investment decisions,” Alake said.

“We have signed an MOU with German firm, GeoScan GmBN, and we are making strenuous efforts to partner with scientific and data-driven agencies, renowned globally, to be able to generate the requisite big geo-data that will attract international big players.”


Alake noted that other aspects of the roadmap, including the revised guidelines for community development agreement (CDA) which makes it mandatory to get the consent of host communities before application for mining licenses, is already operational.

He said revocation of dormant licenses and the inclusion of plans for value addition alongside application for licenses is now a federal government policy.


The minister charged NIPSS to utilise the summit to synthesise suggestions and advance recommendations that will assist the federal government in sustaining the development of the mining sector.

Click on the link below to join TheCable Channel on WhatsApp for your Breaking News, Business Analysis, Politics, Fact Check, Sports and Entertainment News!



No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment

error: Content is protected from copying.