The Minister of Solid Minerals Development, Dele Alake, has defended the current economic reforms of President Bola Ahmed Tinubu, describing the hardship being experienced by Nigerians as painful but necessary for long-term national economic recovery and growth.
Alake stated this on Thursday during the maiden edition of the Solid Minerals Excellence Awards (SOMEA) held in Abuja.
The Minister said Nigeria was undergoing a critical economic transformation designed to build a resilient and sustainable economy capable of driving industrialisation, national development and long-term prosperity.
According to him, the administration remains committed to implementing difficult reforms aimed at tackling corruption, weak institutions, economic instability and the country’s dependence on oil revenue.
“Effective leadership must be driven by vision, knowledge and courage,” he said.
He added that meaningful progress could only be achieved through policies guided by long-term national interest rather than short-term political gains.
READ ALSO:
The minister noted that President Tinubu had shown determination in pursuing reforms that previous administrations allegedly avoided because of political pressure and resistance.
Drawing comparisons with reforms carried out in Lagos State years earlier, Alake said many policies initially criticised later resulted in increased revenue generation, institutional growth and economic expansion.
He explained that the mining sector had become a major component of the administration’s economic diversification agenda under the Renewed Hope programme.
“The ministry has undertaken comprehensive reforms targeting illegal mining, weak regulatory structures, insecurity, dormant licences and lack of transparency in the sector,” he said.
Alake stated that the digitisation of mining operations and licensing processes had improved transparency, simplified access to licences and increased investor confidence in the sector.
He further disclosed that the Federal Government had expanded the Mining Marshals initiative with over 2,000 personnel deployed nationwide to tackle illegal mining activities.
According to him, the enforcement initiative had already led to arrests, prosecutions and improved compliance among operators.
The minister also stressed the importance of local value addition and domestic processing of minerals to support industrialisation, job creation and technology transfer.
Earlier, the Permanent Secretary of the Ministry of Solid Minerals Development, Yusuf Yabo, said the awards ceremony reflected the Federal Government’s commitment to positioning the mining sector as a globally competitive driver of economic growth.
Also speaking, the President of SOMEA, Oladunmi Owo, described the initiative as a platform created to recognise contributions toward reforms and sustainable development in the mining industry.
Chief Executive Officer of D-Gold, Omar Sahinolu, highlighted the importance of responsible mining practices, transparent governance and technological innovation in advancing the sector.
New Telegraph reports that awards were presented to individuals and organisations for their contributions to the development of Nigeria’s solid minerals industry.
The awards, themed “Unlocking the Future,” featured categories including Leading Mining Company of the Year, Excellence in Sustainable and Safe Operations, and Outstanding Contribution to Sector Growth.
