Alake backs South-South push to unlock solid minerals wealth
The Minister of Solid Minerals Development, Henry Dele Alake, has pledged the Federal Government’s support for the South-South Development Commission (SSDC) to harness the region’s solid mineral resources for investment, job creation and sustainable development.
Alake made the commitment in Abuja when the Director-General of the SSDC, Usoro Offiong Akpabio, led a delegation of the commission on a courtesy visit to the ministry.
The minister said the partnership was in line with the Federal Government’s broader agenda of using the geopolitical development commissions established by President Bola Tinubu to accelerate development across the six geopolitical zones.
He said the South-South, despite being widely known for its oil and gas resources, was also strategically positioned to benefit from Nigeria’s economic diversification drive because of its significant solid mineral deposits.
Alake said the reforms being implemented by his ministry were repositioning the mining sector to become a major driver of industrialisation through local value addition, responsible mining, investment promotion and stronger regulation.
He said the reforms had led to increased revenue accruing to the Federal Government from the sector, more than $2.6 billion in foreign direct investment and the emergence of mineral processing facilities that had created jobs for Nigerians.
The minister urged South-South states to take advantage of the Federal Government’s framework for direct state participation in mining through state-owned Special Purpose Vehicles and properly obtained mining titles.
“Several states have already secured mining licence approvals through this framework,” Alake said.
