The Minister of Solid Minerals Development, Dele Alake, outlined plans to establish the Nigeria Solid Minerals Corporation, designed after the Nigeria Liquefied Natural Gas (NLNG) model. This initiative, discussed during a meeting with UK Ambassador Jonny Baxter, aims to transform Nigeria’s mining sector and ensure sustainable development through private sector involvement and government equity. Alake stated that the corporation will minimise political interference, having received presidential approval for its establishment.

Alake emphasised the government’s strategy to enhance mining accessibility by developing transport infrastructure, improving the regulatory landscape, and securing investor interests. He highlighted 2025 as a crucial year for the administration’s reform efforts, with expectations of positive outcomes emerging from these initiatives. He also encouraged UK investment in Nigeria’s mining sector and welcomed British support in improving regulatory frameworks.

Ambassador Baxter praised the plans to model the new corporation after NLNG, affirming the UK’s commitment to fostering bilateral ties in the mining industry and supporting regulatory enhancements. He expressed that Nigeria’s economic progress is vital for global economic stability.

In related news, Senator Adams Oshiomhole accused retired military generals of being behind illegal mining activities in Nigeria, calling for decisive action from the government to combat this issue.

– Dele Alake stated that the Solid Minerals Corporation will be an enduring legacy, free from future political interference.
– He noted the importance of fostering investor security and expanding geological exploration within Nigeria’s mining sector.

The establishment of the Nigeria Solid Minerals Corporation reflects the government’s intention to innovate and improve the mining sector’s efficiency and global competitiveness. By mirroring the successful NLNG structure, the initiative aims to attract private investments while ensuring effective operational frameworks free from political interferences. Support from international partners like the UK highlights the global significance of Nigeria’s mineral resources in fostering economic growth.

The establishment of the Nigeria Solid Minerals Corporation represents a sizeable shift towards enhancing the mining industry. By investing in infrastructure, improving regulations, and involving international partners, Nigeria seeks to build a sustainable and profitable mining sector. This initiative, along with addressing illegal mining, aims to ensure long-term economic benefits and global recognition for Nigeria’s mineral wealth.

Original Source: www.legit.ng

The post Tinubu’s Government Plans Solid Minerals Corporation Modelled After NLNG first appeared on Nigerian Mining News.

Dr Dele Alake, the Minister of Solid Minerals Development, announced that the Nigeria Solid Minerals Corporation will revolutionise the mining sector in Nigeria and ensure sustainable development. This initiative is backed by 50% private sector equity, 25% from Nigerians, and 25% from the Federal Government.

During a meeting with British Deputy High Commissioner Jonny Baxter, Alake revealed that the corporation will be established under the Ministry of Finance Incorporation, following the model of Nigeria Liquefied Natural Gas. He asserted, “The Solid Minerals Corporation will be an enduring legacy. No future government will be able to exert any political interference.”

Alake articulated the government’s strategy to enhance competitiveness and global recognition for the mining sector by developing transport infrastructure, improving regulations, and remediating abandoned mining sites. He also encouraged British investors to seize opportunities in Nigeria’s mining industry, citing international support as crucial for ongoing reform efforts.

Ambassador Baxter expressed support for the initiative, commending the government’s approach and affirming the UK’s commitment to strengthening Nigeria’s regulatory framework and promoting investment. He remarked on the significance of Nigeria’s economic progress for global prosperity and promised continued cooperation in mining.

The establishment of the Nigeria Solid Minerals Corporation is a major initiative aimed at revitalising Nigeria’s mining sector through a robust funding model involving various stakeholders. The corporation is designed to provide a stable platform free from political influence, fostering sustainable growth and competitiveness in the sector. The government is keen to attract domestic and international investments while modernising the regulatory framework to enhance performance and efficiency.

The announcement of the Nigeria Solid Minerals Corporation represents a significant move towards transforming Nigeria’s mining sector. With a well-structured funding model and an emphasis on sustainable practices, the government aims to create an investor-friendly environment. International support, particularly from the UK, will play a crucial role in achieving these ambitious objectives and ensuring long-term growth.

Original Source: punchng.com

The post Nigeria Solid Minerals Corporation to Revamp Mining Sector first appeared on Nigerian Mining News.

Dr Dele Alake, the Minister of Solid Minerals Development, has announced that the Nigeria Solid Minerals Corporation will overhaul the mining sector, promoting sustainable development. Funded primarily through a 50% private sector equity, along with 25% from Nigerians and 25% from the Federal Government, this initiative aims to ensure the sector’s growth without political interference.

During a meeting with British Deputy High Commissioner Jonny Baxter, Alake outlined plans for a competitive mining industry, enhancing access to mining sites via improved transport systems and regulatory frameworks. He also highlighted the intention to remediate abandoned mines, protect investors, and expand exploration to draw significant players into the market.

Emphasising 2025 as a crucial year, Alake welcomed international support for Nigeria’s reform efforts. He noted positive economic indicators stemming from these changes and expressed optimism for future prosperity. Ambassador Baxter appreciated the model based on Nigeria Liquefied Natural Gas (NLNG) and assured continued UK support in strengthening Nigeria’s mining regulations and investment climate.

The establishment of the Nigeria Solid Minerals Corporation aims to restructure Nigeria’s mining sector, enhancing its sustainability and competitiveness. The funding model involves significant contributions from private sectors, national stakeholders, and the government, ensuring a balanced and collaborative approach to mining sector reforms. The initiative is set to prevent political interference and enhance investor confidence, setting a precedent for future governmental projects.

The formation of the Nigeria Solid Minerals Corporation is a strategic move towards modernising the mining sector, enabling private sector engagement and fostering sustainable practices. With strong backing from the government and international partners like the UK, the initiative seeks to improve operations, attract investment, and enhance Nigeria’s economic landscape in the coming years.

Original Source: punchng.com

The post Nigeria’s Solid Minerals Corporation Aims to Transform Mining Sector first appeared on Nigerian Mining News.