Dr. Dele Alake, the Honourable Minister of Solid Minerals in President Bola Tinubu’s cabinet, has been garnering attention for his unprecedented achievements in the solid minerals sector of Nigeria. Despite his background as a journalist and administrator, Alake has approached his role with unmatched enthusiasm, understanding, and a proactive attitude that is much needed in the industry.
Nigeria, renowned for its vast reserves of solid minerals, holds an estimated value of over $700 billion, with some experts suggesting that this figure may even be higher. However, the contribution of solid minerals to the nation’s GDP has been alarmingly low, with the government generating only N193.59 billion from the sector in 2021. Additionally, the country faces an annual average loss of $9 billion in the mining sector due to illegal activities, theft, and negligence.
In response to these challenges, Alake has introduced the Mining Marshals, a security outfit dedicated to monitoring mining activities. This innovative initiative has brought order to the sector, leading to arrests and instilling a sense of responsibility among those involved in the mining industry. His efforts are truly commendable, particularly in light of the significant losses incurred due to illegal mining activities.
The global mining industry is highly profitable, with the top 40 companies generating a record $943 billion in revenue in 2022. Moreover, individuals such as Patrice Tlhopane Motsepe of South Africa have achieved billionaire status through their involvement in mining. These examples underscore the immense potential of the mining sector, and Nigeria, with its abundance of solid minerals, stands to benefit from a well-regulated and organised mining industry.
Alake’s proposal for the establishment of the Nigerian Solid Minerals Corporation, currently in progress at the National Assembly, represents a significant step towards improving the sector. This corporation, with a structure that includes 50% private sector equity, 25% public membership, and 25% federal government ownership, aims to enhance efficiency and reduce unnecessary bureaucracy.
Alake’s initiatives have not only raised public awareness about mining but have also effectively distinguished between legal and illegal mining activities. The introduction of clear rules of engagement and the increased attention from the nation’s security apparatus on the mining sector have led to the ongoing arrests of illegal miners, including foreign individuals involved in the illicit trade.
As a former journalist turned minister, Alake brings a unique perspective to his role, and his commitment to duty is evident in the progress he has achieved in the solid minerals sector. His dedication to eradicating illegal mining activities and promoting ethical and responsible mining practices is truly commendable. Despite facing threats to his life, Alake remains resolute, knowing that his mission to safeguard Nigeria’s valuable resources is a noble and necessary endeavour.
It is clear that Alake is making a significant impact in the mining sector, and his efforts warrant recognition. As he continues to navigate the complexities of the industry, it is crucial that we acknowledge and support the invaluable work of individuals like Alake, who are striving to transform Nigeria’s solid minerals sector for the better.