FG TO ROLL OUT IMMINENT MINING REFORMS-DR DELE ALAKE 26-10-23
By Sadiq Aminu The Federal Government is coming up with reforms that will separate genuine longterm businessmen and value-added investment from adventurers who cart away the nation’s raw minerals.
The Minister of Solid Minerals Development Dr Oladele Alake who made this known while addressing the Mining Ministers Forum at the China Mining Week 2023 holding in Tianji, China , said the imminent mineral development roadmap of the Federal Government will solve the lingering problems of the sector.
He said the proposed Nigerian Solid Minerals Development Company would mobilise domestic, international capital and technology to raise industrial capacity of the sector.
Stressing the importance of geological data to mining finance and exploration, Dr.Alake said the Tinubu administration would invest massively in critical data to make it easier to attract investors to the sector while putting in place standards to protect the environment.
The minister said the government was currently engaging artisanal miners to.join co-operatives to form small enterprises to widen their access to training, extension services, machinery and credit.
In a statement by the Head, Public Relation Office in the ministry Mr Alaba Balogun , the minister assured investors of orderly industrial environment and a new security architecture and community safety organs to combat threats and protect miners.
Allaying the fears of interferences in mining operations by sub-national agencies, Dr Alake said the Tinubu administration has developed cordial relations between the federal and state governments as the recent meeting with the governors’ forum was an indication to resolve pertinent issues.
He advised prospective investors to include the industrial processing of minerals in their business plans adding that a new regime of compulsory value addition as investment condition will soon be in place.