Bola Ahmed Tinubu Issues Strong Warning to Mining Sector Participants in Nigeria
At the 2nd edition of the three-day Africa Natural Resources and Energy Investment Summit (AFNIS) in Abuja, President Bola Ahmed Tinubu issued a stern warning to private companies and public servants in Nigeria’s mining sector, cautioning them to refrain from engaging in corrupt practices or face legal consequences.
The President emphasised the government’s willingness to engage with genuine investors who share the administration’s objectives, while also stressing their preparedness to prosecute individuals who sabotage the economy and hinder efforts to improve the sector.
Tinubu, whose statement was delivered by Secretary to the Federal Government George Akume, emphasised the appointment of Oladele Alake as Minister of Solid Minerals to reform the sector. He assured that the Federal Executive Council has endorsed Alake’s seven-point agenda to revive the industry.
Furthermore, Tinubu encouraged state governors to collaborate with the Federal Government to enhance the mining sector’s contribution to the economy, and warned them against interfering with the lawful operations of licensed operators.
During the summit, Minister Alake advocated for a transition towards more sustainable practices in harnessing the country’s natural resources. He highlighted the concept of a ‘Just Transition’, emphasising the need to ensure that as the country moves towards more sustainable practices in natural resource development and energy production, no one is left behind.
Alake also emphasised the importance of addressing the social and economic challenges that may arise from the shift away from traditional energy sources, including investing in workforce re-training, creating alternative employment opportunities, and supporting impacted communities. He urged African countries to adopt policies that provide a safety net for those negatively affected by this transition.
The summit facilitated crucial discussions on the necessity of balancing the development of the mining sector with sustainable and ethical practices, in order to ensure that the benefits are fairly distributed and no one is left behind in the process.
The strong warning from President Tinubu and the focus on a ‘Just Transition’ by Minister Alake signify a significant step towards addressing the challenges in Nigeria’s mining sector and paving the way for a more responsible and equitable approach to natural resource development and energy production. As stakeholders in the industry work towards these objectives, it is evident that a collective effort is essential to achieve a sustainable and inclusive transformation.
