Emmanuel OchayiThe Minister of Solid Minerals Development, Mr. Dele Alake, announced plans to steer the nation away from its heavy reliance on hydrocarbon resources. In a meeting with the Miners Association of Nigeria’s delegation, Alake emphasized the pivotal role that solid minerals could play in boosting the nation’s economic growth.
He declared, “Nigeria has been operating a mono-cultural economy for too long; a shift to solid minerals is overdue. Our vision is to make solid minerals our pride, a major contributor to Nigeria’s gross domestic product. We will diversify from oil to exploit it for the survival of Nigeria. This is our contribution to climate change.”
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The Minister’s commitment aligns with the Federal Government pivot towards solid minerals as a vital component of Nigeria’s economic future, addressing climate change in the process.
During the meeting, he lauded the Miners Association for their valuable recommendations and for consistently organizing the Mining Week, which serves as a platform for industry stakeholders to collaborate and address challenges.
Furthermore, the minister reaffirmed his ministry’s dedication to formulating effective policies that would improve and streamline the regulatory framework, making it more attractive for both local and foreign investors.
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In response to concerns about incursions by subnational governments into mining activities, he assured of the Federal Government’s commitment to engage with state and local governments to resolve these issues within the boundaries of the law.
Nigeria’s solid mineral resources, primarily concentrated in the Northern regions, hold immense potential for the country’s economic transformation. With increasing global awareness of the environmental impact of fossil fuels, the shift towards solid minerals, including critical resources like copper, lithium, and silicon, could not come at a more crucial time.
However, challenges remain, including security issues in critical mining fields due to armed non-state actors and the need for enhanced regulatory oversight and data capture to monitor activities and attract investments.
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