Henzodaily.ng journalist Adekunle Dada has over 7 years of experience covering metro, government policy, and international events
FCT, Abuja – The Minister of Solid Minerals Development, Dr. Dele Alake, said the establishment of the Nigeria Solid Minerals Corporation will be patterned after the Nigeria Liquefied Natural Gas (NLNG) model.
Alake said the new corporation will significantly transform the mining sector and lay the foundation for its sustainable development.
Alake says Tinubu’s government is focused on improving access to mining.
Photo credit: Segun Tomori
Source: UGC
He disclosed that the initial setup of the new solid mineral corporation will be driven by the Ministry of Finance Incorporation (MOFI)
The minister stated this while receiving the British Deputy High Commissioner to Nigeria, HE Jonny Baxter, in his office in Abuja on Monday, January 27.
This was contained in a statement issued by Segun Tomori, the Special Assistant on Media to the minister, and made available to Henzodaily.ng
“The Solid Minerals Corporation will be an enduring legacy. No future government will be able to exert any political interference. The President has approved this, and we are looking at a 50% equity stake for the private sector, 25% for Nigerians, and 25% for the Federal Government,”
Alake said President Bola Ahmed Tinubu-led federal government plans to create a more competitive and globally recognized mining sector.
The Minister disclosed the government’s plan on improving access to mining sites across the country.
“We are focused on improving access to mining sites through the development of intermodal transport along the mining corridor – including roads, rail, and waterways; strengthening the regulatory framework; remediating abandoned mining pits for productive use; ensuring investor security; and expanding exploration to generate comprehensive geo-data that will attract major players to the sector.”
Alake described 2025 as a pivotal year for the Tinubu administration while emphasizing the ongoing efforts to drive reforms across various sectors.
He noted that the fruits of these efforts are beginning to manifest.
The Minister also welcomed the support of the UK for capacity building, technical assistance, and knowledge transfer across the mining value chain while urging British investors to explore opportunities in Nigeria’s mining sector.
In his remarks, Ambassador Baxter commended Tinubu’s administration’s decision to model the new Solid Minerals Corporation after the NLNG.
Baxter assured the Minister of the UK’s commitment to enhancing bilateral cooperation in the mining sector.
He hailed the Nigerian government for offering the UK’s continued support in strengthening Nigeria’s regulatory framework and attracting investment.
He emphasized that Nigeria’s economic growth is vital for global prosperity
Oshiomhole mentions those behind illegal mining
Meanwhile, Henzodaily.ng reported that Senator Adams Oshiomhole said retired generals in the military are responsible for illegal mining in the country.
Oshiomhole said he knows those behind the illegal mining and that nobody in Africa who doesn’t know them.
The federal lawmaker urged President Tinubu to deploy JTFs, comprising the Army, Police, and Air Force, against them.
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Source: Henzodaily.ng