Transforming Nigeria’s Mining Sector: Ministry of Solid Minerals Development and EITI Join Forces
The Ministry of Solid Minerals Development of Nigeria has reaffirmed its commitment to collaborating with the Extractive Industries Transparency Initiative (EITI) to enhance transparency and accountability within the country’s solid minerals sector.
During a recent meeting with the ministry, a delegation from EITI announced the partnership, which was welcomed by the Minister of Solid Minerals Development, Dr. Oladele Alake. He expressed the ministry’s dedication to promoting transparent and accountable resource management and governance in the sector, highlighting the fruitful engagement with EITI since 2011.
Dr. Alake emphasized that the ministry upholds EITI’s global principles of reliable information, data accuracy, good governance, transparency, and accountability. He noted the deliberate integration of these principles into the plans and policies of the current administration, aiming to reform the mining sector into a significant revenue generator, investment magnet, and domestic resource mobilization base.
The minister also recognized the impact of the partnership with EITI, affirming the agency’s role as a reliable ally and partner in data generation, analysis, and utilization for national planning and development. He assured the delegation of ongoing efforts to address the recommendations from NEITI’s 2021 report and to strengthen the ministry’s operations.
Dr. Orji Ogbonnaya Orji, the executive secretary of NEITI, explained that the EITI delegation informed the Ministry about areas of support to strengthen its operations, particularly with agencies under the ministry. The delegation commended Nigeria’s achievements in implementing EITI objectives, citing the establishment of an electronic cadastre system as a notable milestone.
Alaba Balogun, the Ministry’s deputy director of information, reiterated that the policies of the Ministry of Solid Minerals Development are aimed at ensuring transparency and accountability in the sector. The collaborative efforts between the ministry and EITI signify a significant step towards transformative changes in Nigeria’s mining industry.
The commitment of the Ministry of Solid Minerals Development to working with EITI is a positive step towards realizing the full potential of Nigeria’s mining sector. The collaboration between the ministry and EITI is expected to lead to a significant transformation of the sector through enhanced transparency and accountability.
Nigeria’s mining sector has often been overshadowed by the oil and gas industry. However, with the commitment of the government and the support of agencies like EITI, there is an opportunity to elevate the mining sector to a level that can rival the revenue and investment potential of the oil and gas industry. This would not only diversify Nigeria’s economy but also create job opportunities and reduce poverty.
The collaboration with EITI is a testament to the government’s determination to bring about meaningful reforms in the mining sector. The alignment with global principles of transparency and accountability ensures that Nigeria’s mining industry is on the path to growth and development.
It is imperative that the partnership between the Ministry of Solid Minerals Development and EITI continues to be nurtured and strengthened, as it holds the key to unlocking the true potential of Nigeria’s mining sector. With transparency and accountability at its core, the mining industry in Nigeria can become a beacon of economic growth and prosperity for the nation.
