Solid Minerals to Transform Nigeria’s Mining Industry —Minister
Abuja, Nigeria— The Minister of Solid Minerals Development, Dr. Dele Alake, has assured Nigerians that the newly established Nigeria Solid Minerals Corporation will serve as a catalyst for sustainable growth and revolutionize the nation’s mining sector.
During a meeting with British Deputy High Commissioner Jonny Baxter, Dr. Alake disclosed that the corporation would adopt a structural framework similar to that of the Nigeria Liquefied Natural Gas (NLNG) and be managed by the Ministry of Finance Incorporated (MOFI).
“This Solid Minerals Corporation will be a lasting legacy, insulated from political interference to ensure its sustainability,” Dr. Alake stated. “The President has given approval for its formation with an equity structure of 50% for the private sector, 25% for Nigerians, and 25% for the Federal Government.”
The minister further highlighted the government’s ambitious plans to make Nigeria’s solid minerals sector globally competitive by 2025.
He emphasized that the corporation’s establishment would not only attract significant investment but also foster innovation and position the sector as a key contributor to the nation’s economic growth.
By Enoch Odesola| January 28, 2025