Dr. Dele Alake confirmed that the Nigeria Solid Minerals Corporation will enhance the mining sector and be a key part of President Tinubu’s legacy. The corporation will follow the NLNG model, with significant private sector involvement, while plans for 2025 include improving mining access and regulatory frameworks. UK support has been welcomed to strengthen Nigeria’s mining landscape.
The Minister of Solid Minerals Development, Dr Dele Alake, has stated that the Nigeria Solid Minerals Corporation will greatly impact the mining sector, forming a crucial part of President Bola Tinubu’s legacy. During a meeting with British Deputy High Commissioner Jonny Baxter, Alake indicated that the corporation’s establishment would be modelled on the Nigeria Liquefied Natural Gas (NLNG) framework, with initial setup led by the Ministry of Finance Incorporation (MOFI).
Alake described the Solid Minerals Corporation as an enduring legacy, stating that it would prevent future political interference. He revealed plans for a 50% equity stake for the private sector, 25% for Nigerians, and 25% for the federal government. He anticipates that by 2025, the mining sector will be more competitive on a global scale, focusing on improving access to mining sites and enhancing the regulatory framework.
Plans include developing intermodal transport to mining sites, remediating abandoned pits, ensuring investor security, and expanding geo-data exploration. Alake also welcomed UK support for skill-building and technical assistance, urging British investors to consider Nigeria’s mining opportunities. He highlighted the significance of 2025 for the Tinubu administration, noting positive economic trends and the government’s commitment to reform.
Ambassador Baxter expressed support for creating the Solid Minerals Corporation, praising its NLNG model. He highlighted Nigeria’s economic growth as vital for global progress and reaffirmed the UK’s commitment to enhancing cooperation in the mining sector, ensuring continued investment in Nigeria’s resources.
The article discusses the establishment of the Nigeria Solid Minerals Corporation under the leadership of Minister Dr Dele Alake. It outlines plans for a reinforced mining sector aimed at sustainable development and highlights the collaboration with the UK to bolster investment and regulatory frameworks in Nigeria’s mining industry. This initiative forms part of President Bola Tinubu’s broader economic reform agenda, with a target for significant transformation by 2025.
The establishment of the Nigeria Solid Minerals Corporation marks a pivotal step in revamping the mining sector, ensuring sustainable development and reducing political interference. With shared goals for growth, support from the UK, and a strategic model based on NLNG, the initiative is poised to attract investment and create a competitive mining landscape for Nigeria by 2025.
Original Source: blueprint.ng