Federal Government Aims to Boost Solid Minerals Sector Contribution to GDP
The Federal Government has established a target to elevate the solid minerals sector’s contribution to the gross domestic product (GDP) to 50%. This ambitious aim encompasses the rectification of revenue collection hindrances within the sector. Dr Alake, the Minister of Solid Minerals Development, underscored the imperative of scrutinizing and enhancing revenues by eradicating all forms of leakages within the Ministry’s agencies. The overarching objective is to utilise the revenue generated from the solid minerals sector to implement poverty alleviation programs, generate employment opportunities, and amass wealth.
Dr Alake emphasised the necessity of prompt decisive actions to augment revenue collection and review all fees paid by operators and businessmen. He posits that by sealing these leakages and ensuring transparency in revenue collection, the solid minerals sector can emerge as a substantial contributor to the country’s GDP. Moreover, he accentuated the significance of the Mining Cadastre Office and urged its staff to sustain their success and surpass the government’s set targets.
During his visit, Dr Alake commended the invaluable role of the Nigeria Geophysical Survey Agency (NGSA) in projecting and generating crucial data for professional fields. The agency’s contribution to the economy, particularly in providing essential data, was highlighted. Furthermore, the Minister acknowledged the pivotal role of the Council of Nigerian Mining Engineers and Geoscientists (COMEG) in ensuring quality control in the training and practices of professionals in the Nigerian Extractive Industry.
In conclusion, the Minister affirmed the Ministry’s unwavering support and collaboration in addressing the unique challenges faced by the agencies. The government’s resolute commitment to enhancing the solid minerals sector’s contribution to the GDP underscores its dedication to economic growth and development. Through fostering transparency, eliminating leakages, and backing key agencies, the government seeks to harness the sector’s potential for national advancement.
