– Minister Dele Alake confirms that reforms by President Bola Tinubu have renewed investor interest in Nigeria’s mining sector. – Over 300 illegal miners apprehended; 133 are facing prosecution. – Plans to implement satellite monitoring for mining sites. – Encouragement for investors to exploit Nigeria’s vast mineral resources, including talc and iron ore. – Launch of the Decision Support System to facilitate investor engagement and provide critical data.
Dele Alake, Nigeria’s Minister of Solid Minerals Development, has highlighted the positive effects of President Bola Tinubu’s reforms on the country’s mining sector, leading to renewed investor interest. Alake stated that the federal government’s emphasis on solid minerals has captured global attention, resulting in increased investments and revenue in Nigeria’s mining industry. During the Nigeria Middle East Investors Expo and Awards, he acknowledged the progress achieved through the implementation of a 7-point agenda, particularly in tackling illegal mining. The introduction of mining marshals has led to the apprehension of over 300 illegal operators, with 133 facing prosecution. To strengthen monitoring, Alake announced plans to use satellite technology for surveillance of mining sites, enabling efficient tracking of illicit activities. He also encouraged investors to explore Nigeria’s diverse mineral wealth, including over 40 million tonnes of talc and vast iron ore deposits. Alake introduced the Decision Support System (DSS), an online platform designed to provide comprehensive data on Nigeria’s solid minerals sector, enhancing the ease of doing business for potential investors. He reiterated Nigeria’s readiness to attract foreign investment by increasing exploration funding and promoting critical minerals.
The article discusses the recent reforms initiated by President Bola Tinubu’s administration in Nigeria, specifically in the mining sector. It reflects the federal government’s strategic focus on solid minerals to align global interests with local investment opportunities. The need to combat illegal mining and enhance data accessibility for potential investors is also emphasized, setting a framework for encouraging both domestic and international investments in the country’s abundant mineral resources.
Minister Dele Alake’s statements reflect a significant shift in Nigeria’s mining sector, showcasing successful reforms that are fostering investor confidence. The government’s commitment to addressing illegal activities and providing resources for potential investors, along with the introduction of advanced monitoring technologies, demonstrates Nigeria’s readiness to become a leading destination for mining investment. This strategic approach is expected to attract more global stakeholders, leveraging the country’s rich mineral deposits.
Original Source: thenationonlineng.net