Minister of Solid Minerals Development Dele Alake has said that the current economic hardship facing Nigerians is painful but necessary for the country’s transition toward a stronger and more sustainable economy.
Alake made the statement during the maiden edition of the Solid Minerals Excellence Awards SOMEA held in Abuja. According to him, Nigeria is currently undergoing major economic reforms aimed at achieving long term prosperity industrial growth and national development.
The minister stated that the administration of President Bola Tinubu remains committed to implementing difficult reforms designed to tackle corruption weak institutions economic inility and overdependence on oil revenue. He noted that effective leadership requires vision courage and knowledge to make decisions that serve the country’s long term interests.
Alake explained that several reforms avoided by previous administrations due to political pressure are now being introduced to reposition the economy for future growth. Drawing comparisons with the transformation of Lagos State he said reforms that were once unpopular eventually led to stronger institutions improved revenue generation and economic expansion.
He added that the solid minerals sector has become a major pillar of the government’s economic diversification agenda under the Renewed Hope programme. According to him the ministry has introduced reforms targeting illegal mining insecurity weak regulation dormant licences and lack of transparency within the sector.
The minister revealed that the digitisation of mining operations and licensing processes has improved transparency simplified access to licences and attracted more investors into the industry. He also disclosed that over 2000 Mining Marshals have been deployed nationwide to combat illegal mining activities resulting in several arrests prosecutions and improved compliance among operators.
Alake stressed the importance of local mineral processing and value addition to boost industrialisation create jobs and encourage technology transfer across the country.
The event also recognised individuals and organisations contributing to innovation sustainability and development within Nigeria’s solid minerals industry.
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