Minister of Solid Minerals, Dele Alake, said, the Nigerian government plans to create a more competitive and globally recognized mining sector.
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| Jonny Baxter | Dele Alake. Photo: @AlakeDele |
Alake made the disclosure as he met with the British Deputy High Commissioner to Nigeria, HE Jonny Baxter, where he disclosed, “that the initial setup of the Nigeria Solid Minerals Corporation will be driven by the Ministry of Finance Incorporation (MOFI)”.
The Minister said, the govt is “focused on improving access to mining sites through the development of intermodal transport along the mining corridor – including roads, rail, and waterways.”
According to Dele Alake: “During my meeting with the British Deputy High Commissioner to Nigeria, HE Jonny Baxter, I disclosed that the initial setup of the Nigeria Solid Minerals Corporation will be driven by the Ministry of Finance Incorporation (MOFI), with a structure patterned after the Nigeria Liquefied Natural Gas (NLNG) model.
I believe that 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 initiative, and we are looking at a 50% equity stake for the private sector, 25% for Nigerians, and 25% for the Federal Government.
As we look ahead to 2025, I am outlining our government’s plans to create a more competitive and globally recognized mining sector. We are focused on improving access to mining sites through the development of intermodal transport along the mining corridor – including roads, rail, and waterways.
Additionally, we are 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 our sector.
This year is a pivotal year for our administration, as we emphasize our ongoing efforts to drive reforms across different sectors. I am pleased to note that the fruits of these efforts are beginning to manifest. Positive trends in the economy are already emerging, and prosperity is within reach.”
Today, during my meeting with the British Deputy High Commissioner to Nigeria, HE Jonny Baxter, I disclosed that the initial setup of the Nigeria Solid Minerals Corporation will be driven by the Ministry of Finance Incorporation (MOFI), with a structure patterned after the… pic.twitter.com/kSCdzHmoIn
— Dele Alake (@AlakeDele) January 27, 2025
