Dele Alake, minister of solid minerals development, says his ministry will launch a development fund programme to support local miners.
Alake spoke during the 10th edition of Nigeria’s mining week on Tuesday in Abuja. The event had ‘Nigeria mining: From progress to global relevance’ as its theme.
The minister said the policy’s introduction was aimed at providing funding intervention that would reposition the sector.
“I can confidently tell you that we are going to start a solid minerals development fund high-impact mineral exploration programme,” he said
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“This is a grant funding programme which is to provide financial and technical support for those exploring for minerals in Nigeria.”
Alake described the solid minerals sector as the next jugular of Nigeria’s economy.
He said the global drive toward green energy has encouraged the President Bola Tinubu-led administration to harness the country’s commercial deposits of critical minerals necessary for local development.
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“The solid mineral sector is an integral part of the economic diversification of Nigeria, that is why in the last two years we are striving to be creative with our policy initiatives and reforms,” he said.
The minister expressed concerns of cabals taking over the sector, flagrantly disregarding environmental regulations, and failing to pay annual fees.
“They got away with what we call blue murder until the Tinubu’s administration came in said it was no longer going to be business as usual because there is a new sheriff in town,” Alake said.
He said the ministry had improved its performance through innovations such as digitising its operations particularly in securing mineral licences, adding that its contribution to the GDP rose to 4.61 per cent in the second quarter of 2025.
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Alake said evidence pointed to the ministry’s efficacy through its policies but noted that the cooperation of stakeholders played a significant role.
