FG plans to switch from minerals to hydrocarbons

FG plans to switch from minerals to hydrocarbons
The Minister of Solid Minerals Development, Dr. Oladele Alake, reiterated on Monday the Federal government's commitment to diversify from hydrocarbon resources and enhance the minerals sector's significant contribution to Nigeria's gross domestic product (GDP).


During a meeting held in Abuja, Dr. Alake expressed the following statement when greeting a delegation from the Miners Association of Nigeria, which was led by their National President, Mr. Dele Ayanleke. The trip consisted of members from the VUKA company, which is a co-organizer of the next Nigeria Mining Week, as well as Price Waterhouse Coopers, a prominent accounting firm.


Dr. Alake expressed appreciation for the Association's insightful ideas and ongoing efforts in coordinating the Mining Week. He emphasized that Nigeria has historically relied heavily on a mono-cultural economy and highlighted the pressing need for a transition towards solid minerals.


According to Mr. Alaba Balogun, the Head of Press, Alake expressed the aspiration for solid minerals to become a source of national pride and a significant contribution to Nigeria's gross domestic product. In order to ensure the existence of Nigeria, it is imperative that we pursue diversification from oil and instead focus on its exploitation. This statement reflects our individual contribution to the phenomenon of climate change.


The Minister reiterated the Ministry's commitment to formulating necessary policies aimed at improving and restructuring the regulatory framework to create a more favorable environment for both domestic and international investors to participate.


Regarding the matter of encroachment by subnational governments in the mining sector. The individual observed that the Federal Government intends to collaborate with state and local governments in order to address pertinent matters within the boundaries of legal frameworks.


The Minister further disclosed that advanced technologies will be utilized in conjunction with an inter-agency task team to effectively eradicate the problem. Consequently, the individual endeavored to establish a collaborative alliance with the Miners Association of Nigeria, with the aim of enhancing proficiency in this domain, thereby fostering the advancement and revitalization of the sector.


Mr. Dele Ayanleke, the National President of the Miners Association of Nigeria, conveyed a strong sense of confidence in the seven-point agenda presented by the Minister of Solid Minerals within the framework of the current administration's renewed hope agenda. Ayanleke asserted that this agenda will strengthen and improve the mining sector, enabling it to make a significant contribution to the overall development of the nation.

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