Minister of Solid Minerals Development, Dele Alake, says the economic reforms introduced by President Bola Tinubu are beginning to reposition the country’s mining sector and attract new investments into mineral processing and local value addition.
Mr Alake disclosed this in a post shared on his official X page on Thursday following his participation at a joint stakeholders’ sensitisation meeting organised by the Nigeria Revenue Service and the Ministry of Solid Minerals Development in Abuja.
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According to the minister, Nigeria’s overdependence on crude oil and imports for decades contributed to the neglect of other critical sectors of the economy, including mining.
He, however, said the ongoing reforms by the Tinubu administration are gradually changing the situation and opening up opportunities for investment and industrial growth.
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“I spoke about how the tough but necessary reforms introduced by President Bola Ahmed Tinubu are beginning to reposition our economy for growth,” he wrote.
He noted that the government is already witnessing increased investments in lithium processing, gold refining and local mineral value addition across the country.
According to him, the investments are expected to create jobs, improve investor confidence and strengthen the economy.
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“Today, we are seeing real progress. New investments in lithium processing, gold refining, and local value addition are creating jobs, boosting investor confidence, and strengthening our economy,” he stated.
Mr Alake also said the government is intensifying efforts to tackle illegal mining activities while pursuing reforms aimed at building a more transparent and responsible mining industry.
“We are also taking firm action against illegal mining while building a more transparent and responsible mining sector that works for Nigerians,” he added.
The federal government has in recent months stepped up efforts to reposition the solid minerals sector as part of broader plans to diversify the economy, increase revenue generation and reduce dependence on oil exports.
The ministry has also repeatedly emphasised local processing and value addition as part of its strategy to maximise the economic benefits of Nigeria’s mineral resources.
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