Nigerian Mines Minister Henry Dele Alake is reportedly facing significant challenges due to budgetary constraints that affect the mining sector. There’s a pressing need for funds to develop this vital industry, and Alake is now reaching out for solutions. He has notably requested that both the Nigerian Army and the Nigeria Police Force step up security measures in mining areas, particularly in the north-west region, where illegal activities have surged.

In other political news, the Nigerian Interior Minister, Olubunmi Tunji-Ojo, is preparing for a likely visit from his UK counterpart, Yvette Cooper. This potential meeting could take place in the coming weeks and aligns with a strengthening relationship between Nigeria and the UK. Earlier in October, the Nigerian president and UK prime minister held private discussions at Downing Street, indicating a new chapter in diplomatic ties.

Ties between the two countries have been on the upswing since July, with the UK foreign secretary also expected to visit Nigeria on 4 November. These developments point towards a reinvigorated partnership that could influence various sectors, including trade and security.

Nigerian President Bola Ahmed Tinubu had plans to return from London on 10 September, but he scrapped those in favour of attending the UN General Assembly in New York City. His delegation will include several ministers, although specifics on their agenda remain unclear.

After stepping into the role in September 2023, Interior Minister Tunji-Ojo has his sights set on steering three key Nigerian institutions, showcasing his ambition as he settles into his new duties. Alake’s focus remains on securing the mining industry while working within the financial limitations imposed by the government.

With Alake advocating for better security and Tunji-Ojo aiming for institutional control, both ministers appear committed to addressing the current challenges facing Nigeria, albeit under significant pressure from budget issues and broader political dynamics.

Mines Minister Henry Dele Alake is struggling with budget restrictions affecting the mining sector, which he believes needs urgent financial support. He’s also called for enhanced security in vulnerable areas. Meanwhile, the relationship between Nigeria and the UK is improving, with notable political visitations, while the Interior Minister looks to consolidate his authority over key institutions. These developments highlight a complex landscape for Nigeria’s governance and economic future.

Original Source: www.africaintelligence.com

The post Budget Constraints Challenge Nigeria’s Mines Minister Alake Amid Political Changes first appeared on Nigerian Mining News.

The Federal Government of Nigeria has collected N6.96 billion in mining fees and registered 118 new private mineral buying centres in Q1 of this year. Dele Alake, the Minister of Solid Minerals Development, shared these updates during the second Annual Mining Conference held by BusinessDay Media in Abuja, emphasising efforts to boost investment and awareness in the sector.

Alake revealed that the collected mining fees came from 955 applications for various mining title grants, such as exploration and small-scale mining permits. The Ministry approved 867 applications, generating revenue through annual service and application processing fees.

Plans are underway to establish the Nigerian Solid Minerals Corporation, aimed at enhancing Nigeria’s competitiveness in global mining. This allows Nigerian investments through a public offer, potentially elevating the country’s position in the mining industry.

The Minister mentioned international collaborations, including support from the French Government for training young geologists and laboratory enhancements. Partnerships with nations like Western Australia and Saudi Arabia are fostering investments in Nigeria’s mining sector.

Alake credited the Ministry’s achievements to its value addition policy, which promotes local beneficiation and positions Nigeria as a leader in African mining. Upcoming initiatives include the inauguration of lithium, bauxite, and gold refining plants this quarter.

In summary, the Federal Government has made significant strides in the mining sector by collecting substantial fees and registering new buying centres. Plans for the establishment of the Nigerian Solid Minerals Corporation and international partnerships aim to enhance Nigeria’s global competitiveness in mining. The focus on value addition and upcoming refining plants further strengthens the sector’s potential.

Original Source: businessday.ng

The post Federal Government Reports N6.96bn Mining Fees and New Buying Centres first appeared on Nigerian Mining News.

The Federal Government has raised N6.96 billion from mining fees and established 118 new private mineral buying centres in Q1 2023. Dele Alake, Minister of Solid Minerals Development, shared these figures at the Annual Mining Conference in Abuja, emphasising efforts to attract investors. The fees came from 955 title grant applications, covering exploration, small-scale mining, and permits, with 867 approved applications contributing to the revenue.

Plans for the Nigerian Solid Minerals Corporation were announced as a means to boost Nigeria’s status in global mining, offering investment opportunities through public offerings. Alake mentioned international collaborations, including French aid for laboratory enhancement and training for local geologists, as well as partnerships with Australia, Britain, and Saudi Arabia for mining investments.

He credited the Ministry’s progress to implementing a value addition policy that promotes local beneficiation, positioning Nigeria as a leading African mining nation. Additionally, Alake revealed plans for launching lithium, bauxite, and gold refining plants within the quarter.

The Federal Government’s efforts in the first quarter include collecting substantial mining fees and registering numerous private mineral buying centres. The establishment of the Nigerian Solid Minerals Corporation aims to enhance global competitiveness, supported by international partnerships. These initiatives, coupled with a successful value addition policy, are set to position Nigeria as a key player in the African mining sector.

Original Source: businessday.ng

The post Federal Government Collects N6.96bn in Mining Fees and Expands Sector first appeared on Nigerian Mining News.