The Nigerian government has made the decision to suspend the issuance of mining licences to potential investors who lack plans for local value addition in the country.
Dr. Oladele Alake, the Honourable Minister for Solid Minerals Development, confirmed this development during a visit by members of the House of Representatives Committee on Solid Minerals to the ministry in Abuja, FCT.
In his remarks, Dr. Alake commended the Federal lawmakers for their support in revitalizing the mining sector and emphasized that transforming Nigeria’s economic fortunes requires a collaborative effort between the Executive and Legislature. He also highlighted the significant contribution of sub-national entities to mining development, noting that state governments nominate the State Chairmen of the Mineral Resources and Environmental Management Committee (MIREMCO) and its members.
Dr. Alake underscored the importance of the Committee and expressed his appreciation for their oversight function. He assured the legislators of the Ministry’s commitment to achieving its objectives with their support, including logistical assistance and the crafting of necessary legislative frameworks.
Furthermore, Dr. Alake emphasized the growing interest of the international community in Nigeria’s mineral resources. He highlighted his 7-point agenda, which has brought the mining sector to the global forefront since assuming office. As a result, he was elected as the Chairman of the Africa Minerals Strategy Group (AMSG), comprising Ministers of Solid Minerals/Mineral Resources from all African countries. He emphasized that the AMSG aims to promote local value addition, ensuring that minerals are processed and refined within Nigeria to generate employment opportunities and benefit local communities.
Regarding the security of mineral sites, the Minister revealed that the Federal Government has finalized arrangements for a new security outfit. This outfit will incorporate the existing structure of the Nigeria Security and Civil Defence Corps (NSCDC) while integrating technology and specialized training. The objective is to secure Nigeria’s natural resources, including solid minerals, forests, and the marine economy. The new security outfit will employ advanced technology alongside boots-on-the-ground personnel, and each state will have a dedicated command structure.
Chairman of the Committee, Hon. Gaza Gbefwi, expressed the Committee’s constitutional responsibility of oversight and its visit to the Ministry to ensure that the Executive is effectively contributing to citizens’ maximum benefit from the mining sector. He appreciated the Minister’s cooperation with the Legislature and pledged the Committee’s commitment to supporting necessary reforms through appropriate legislation, thereby enabling the Executive to propel the sector to a prominent position with a significant contribution to the Nigerian economy.
