Minister of Solid Minerals, Dele Alake said the administration of President Bola Ahmed Tinubu is pursuing deliberate reforms in the Solid Minerals sector in order to attract foreign and local investments, stating that the sector cannot be undermined given its contribution to the nation’s gross domestic products.

The Minister stated in his keynote address at a conference organized by the Africa Commodity Conference and Exhibition, ACCA, in Abuja.

ACCA is a platform for stakeholders across the mineral and energy value chains to converge, connect, and chart a course for sustainable national development.

Represented by Olajide Olushola at the event, the Minister expressed optimism that Nigeria can harness its abundant mineral wealth not just for immediate gains but for enduring prosperity that benefits every Nigerian now and in future.

“We are pursuing deliberate reforms aimed at attracting investments, formalizing artisanal mining, improving data availability, enhancing environmental sustainability, and promoting local value addition.

“This theme resonates deeply with our national aspirations. For too long, Nigeria’s resource wealth-whether in hydrocarbons or solid minerals- has been underutilized or inequitably distributed.

“We are gathered here today to reverse that narrative and explore sustainable pathways that ensure Nigeria’s mineral endowment becomes a shared heritage and a catalyst for enduring prosperity,” he said.

The Minister disclosed that Nigeria is blessed with over 44 commercially viable solid minerals spread across more than 500 locations in the country.

“From gold in Zamfara and Kebbi, to lithium in Nasarawa and Kogi, to barite in Cross River, and tantalite in Osun-our nation is richly endowed, yet for decades, the sector remained dormant, contributing less than 1% to GDP,” he added.

To achieve the milestone in the solid minerals sector, the Minister said institutional reforms overhauling regulatory frameworks are being put together to improve the investors’ confidence.

“The Nigerian Mining Act is under review to reflect global best practices and incorporate clear mechanisms for revenue sharing, host community development, and environmental protection,” he further stated.

Meanwhile, the President of the Miners Association of Nigeria, MAN, highlighting challenges confronting them in mining activities, said they lacked access to funding, a development that had hampered the growth of mining operations in Nigeria.

The MAN president, who was represented by the FCT Secretary of the association, Adogba Simon Ogar lamented that the government has not been investing in the mining industry, thus leaving the industry to artisans.

According to him, mining activity has grown beyond manual labour to the use of sophisticated machines, but Nigerian miners still use outdated and archaic mining techniques and equipment to drive the industry at a low pace with less patronage.

He said: “We are still using outdated/archaic and obsolete mining techniques and equipment, which can reduce productivity and increase costs.”

He further advised the government to be consistent with mining policy, while he expressed the belief that consistent government policy would encourage serious private foreign investors in the industry.