The Minister of Solid Minerals Development, Dele Alake, has described the current economic challenges facing Nigeria as painful but necessary steps in the country’s transition toward a more resilient and sustainable economy.
He made this statement at the maiden Solid Minerals Excellence Awards held in Abuja, where he spoke on ongoing reforms aimed at strengthening industrial growth, improving governance, and diversifying the economy away from oil dependence.
According to him, the administration of President Bola Tinubu is committed to implementing bold reforms designed to address corruption, weak institutions, economic instability, and structural inefficiencies that have slowed national development.
Alake noted that effective leadership requires long-term vision and difficult decisions, adding that sustainable progress can only be achieved through policies that prioritise national interest over short-term political gains.
He explained that the solid minerals sector has been identified as a key driver of Nigeria’s economic diversification agenda under the Renewed Hope programme, with ongoing reforms targeting illegal mining, regulatory gaps, insecurity, and transparency issues.
The minister highlighted efforts to digitise mining operations and licensing processes, stating that these measures have improved transparency, attracted investors, and made access to permits easier.
He also revealed that the government has intensified enforcement against illegal mining activities through expanded security operations, resulting in arrests, prosecutions, and improved compliance within the sector.
Alake further emphasised the importance of local mineral processing and value addition as a strategy to boost industrialisation, create jobs, and promote technology transfer within the country.
Officials at the event said the awards were designed to recognise innovation, investment, and contributions to the development of Nigeria’s mining industry.
