In honour of the President Bola Tinubu’s inaugural year in office, Nigeria’s Minister of Solid Minerals, Dr Henry Dele Alake, has released his performance report, as directed by the presidency.
Tinubu, the nation’s 16th democratically elected leader, has chosen not to mark his first year in office with grand celebrations. Instead, the occasion will be acknowledged through low-key events, including sector-specific media briefings by the 47 federal ministers, commencing today (Thursday).
Dr Alake, accompanied by his ministerial colleagues, presented his achievements at a press briefing held in Abuja. This gathering was organised to enable ministers nationwide to provide updates on their accomplishments during their inaugural year in office.
In response to queries regarding challenges such as funding for mineral mapping, mineral smuggling across the country, and the welfare of mineral miners, Dr Alake emphasised the pivotal role of big data gathering in his 7-point agenda.
He stressed that one of the crucial factors in attracting investment in the mineral sector is the availability of comprehensive and efficient data. Such information, he explained, forms the basis upon which foreign investors can make well-informed investment decisions.
“Generating data is expensive and it requires funding. Your data must be accurate and certified by international certification agencies so that your data will have international recognition.
“It is only when that is done that investors all over the world will not think twice about coming into your environment to invest.”
Regarding the 2024 budget proposal, he disclosed that the ministry had requested N200 billion for exploration, specifically for data gathering. However, the allocated funds fell far short of this figure. Nevertheless, the ministry is pursuing alternative avenues to secure funding.
He further revealed that discussions have been ongoing with potential partners from South Africa, who are willing to facilitate a Public-Private Partnership (PPP) project. Under this arrangement, they would provide counterpart funding, thereby alleviating some of the financial burden on Nigeria.
Additionally, he outlined plans to engage esteemed Geoscientific authorities and agencies worldwide, renowned for their expertise, to assist in mapping out Nigeria’s mineral resources. Collaboration with such organisations would entail equity-sharing arrangements.
Initiatives have been implemented to map out minerals exported from Nigeria. The ministry has established mineral testing centres in partnership with the Nigeria Customs Service to monitor mineral exports from the country.
Furthermore, he affirmed that no mining activities would be authorised under his tenure without a comprehensive plan for post-mining remediation efforts.