MARKET NEWS

By Toyin Adebayo

ABUJA – Nigeria’s solid minerals sector is experiencing a renaissance, with groundbreaking achievements and global recognition, according to the Minister of Solid Minerals Development, Dr. Dele Alake.

Speaking on Wednesday during the closing ceremony of the Nigeria Mining Week, he hinted on the ministry’s strides since his assumption of office.

Alake highlighted the aggressive marketing and international outreach that has transformed the sector into a key pillar of President Bola Ahmed Tinubu’s Renewed Hope Agenda.

“It has been a quiet but eventful journey over the last year. A lot of activities have taken place, and significant achievements have been recorded. One of our primary goals was to put Nigeria’s solid mineral sector on the global map,” Alake stated.

The minister noted that while Nigeria’s vast deposits of critical metals and minerals have long been known, global awareness was lacking. “The first assignment we embarked on was to sensitize the international mining community about Nigeria’s potential. We used various strategies, including global outreach programs, to highlight our deposits of critical metals. I am pleased to say this has yielded remarkable results,” he added.

Alake underscored the centrality of the solid minerals sector to Nigeria’s economic diversification goals. “Solid minerals are a pillar of economic pacification and essential to the success of the Renewed Hope Agenda. Our efforts are geared towards ensuring this sector becomes a leading contributor to national growth and job creation,” he said.

The minister also emphasized the strategic importance of critical metals like lithium, cobalt, and nickel, which are vital for renewable energy technologies. “Our success in attracting global mining investments will drive industrialization and position Nigeria as a significant player in the global minerals value chain,” he noted.

Alake’s remarks come as the ministry prepares to roll out additional reforms aimed at enhancing transparency, regulatory efficiency, and community engagement in mining operations.

Experts and stakeholders have commended the ministry’s efforts, noting that a globally competitive solid minerals sector could significantly boost Nigeria’s GDP and reduce dependence on oil revenues.

With its newfound prominence, Nigeria’s solid minerals sector appears poised to fulfill its long-overdue potential, marking a new chapter in the country’s economic narrative.