Dele Alake, minister of Solid Minerals Development, has said the N1 trillion budget allocation to solid minerals is to bridge the exploration gap between Nigeria and its competitors.
He said the budget, approved in 2025, aims to gather geological data and certify minerals under the Pan-African Resources Reporting Code, enhancing credibility for big mining projects
The minister stated this in his remarks at the ministry’s Ministerial Retreat, which began in Abuja, on Friday, July 11- 12, with the theme ‘Enhancing Performance, Strengthening Accountability, and Fostering Innovation in the Solid Minerals Sector.’
According to Alake, “the budget will facilitate nationwide aeromagnetic surveys and geochemical mapping of key mineral belts, enriching the geoscience data bank and synchronizing exploration data as well as tackle illegal mining.”
The minister noted that “the Mining Marshals, a 2,350-strong team, have cleared 98 mining sites, arrested 273 suspects, and are monitoring over 400 illegal sites. Artisanal co-operatives are being mobilized to stop illegal mining and become bankable.”
Alake further stated that the ministry is promoting value addition, with several mineral processing projects commissioned, including a $600 million avatar lithium plant and a multi-million dollar iron ore to steel plant.
Speaking on the retreat, Alake said, “This Retreat is more than just an opportunity for introspection. It is a platform to drive forward the Renewed Hope Agenda of His Excellency, President Bola Ahmed Tinubu, which challenges every Ministry, Department, and Agency to deliver measurable, people-centred results.
“Our Ministry has embraced this challenge with commitment and vigour, determined to reposition the solid minerals sector as a key pillar of economic diversification, job creation, and inclusive growth.
“Our strategy is encapsulated in the Seven Point Agenda for positioning the solid minerals sector for international competitiveness and domestic consolidation. This agenda was adopted by the Federal Executive Council, and it is the basis of assessment by the policy monitoring unit.”
Speaking on the achievements of the ministry since the administration assumed office, Alake said, “Revenue rose from N12 billion in 2023 to N36 billion in 2024, with licence revenue increasing from N6.07 billion to N12.58 billion.”
“The number of registered mining companies increased from 883 in 2023 to 1,025 in 2024, while the ministry has signed 320 Community Development Agreements with host communities and implemented Environmental Protection and Rehabilitation Programs.”
The minister emphasised the need for accountability, innovation, and measurable results, highlighting the importance of developing policy frameworks that support exploration, beneficiation, and value addition. The goal is to make the solid minerals sector globally competitive, sustainably managed, and investor-friendly.
In his remarks earlier, Faruk Yusuf Yabo, permanent \secretary to the Ministry of Solid Minerals Development, said the solid mineral sector in Nigeria is undergoing a significant transformation, driven by the global energy transition and rising demand for critical minerals.
“Countries that have positioned themselves to achieve a well-structured mining institution and effective governance are already leading the way in this sector, and therefore Nigeria cannot be left or cannot afford to be left behind.”
The retreat aims to achieve five core objectives, including aligning ministerial deliverables with Mr. President’s Renewed Hope Agenda, promoting leadership cohesion and interdepartmental collaboration, and institutionalizing a result-based management culture.
Yabo urged participants to engage fully and commit to actionable strategies, emphasizing the need for evidence-based policy-making and policy implementation.
This sentiment was echoed by Samson Eking, chairman of the Senate Committee on Solid Minerals, who commended the minister for organising a retreat that sets the tone for their work plan and collaboration.
He emphasised the importance of the solid mineral sector in driving economic diversification, growth, and development, stating that “This sector presents a canvas of opportunities through which our resources, from gold to lithium, iron, bitumen, gold, and many more, are harvested.”
However, Jonathan Gwefi Gaza, chairman of House Committee on Solid Minerals, raised concerns about internal accountability and innovations, citing instances of foreign companies not paying VAT and inadequate community development agreements.
He stressed the need for proper accountability and innovations to harness Nigeria’s God-given resources effectively, stating that “With such great feats, with such great achievements, we must look within to make sure that these gains are not being wasted due to internal lack of proper accountability and of course innovations that will help us harness our God-given resources.”
