The Minister of Solid Minerals Development, Dele Alake, has said the economic hardship currently experienced by Nigerians is part of a difficult but necessary transition toward building a resilient and sustainable economy.
Alake stated this in Abuja during the maiden edition of the Solid Minerals Excellence Awards (SOMEA), where he reaffirmed the Federal Government’s commitment to economic reforms aimed at long-term national development.
According to the minister, the administration of President Bola Tinubu is pursuing bold policies designed to address corruption, weak institutions, economic instability and Nigeria’s overdependence on oil revenue.
He noted that meaningful development can only be achieved through visionary leadership and policies driven by long-term national interest rather than short-term political gains.
“Effective leadership must be driven by vision, knowledge and courage,” Alake said, adding that several reforms previously avoided by past administrations due to political resistance are now being implemented to reposition the nation’s economy for future growth.
Drawing parallels with the transformation of Lagos State, the minister said many reforms initially faced criticism and resistance but eventually resulted in stronger institutions, improved revenue generation and economic expansion.
Alake described the mining sector as a major pillar of the Tinubu administration’s economic diversification agenda under the Renewed Hope programme.
He said the Ministry of Solid Minerals Development had initiated wide-ranging reforms targeting illegal mining, insecurity, weak regulation, dormant licences and lack of transparency within the sector.
According to him, the digitisation of mining operations and licensing processes has improved transparency, simplified access to licences and boosted investor confidence.
The minister further disclosed that the government had expanded the Mining Marshals initiative with the deployment of over 2,000 personnel nationwide to combat illegal mining activities.
He said the initiative had already led to several arrests, prosecutions and improved compliance among mining operators across the country.
Alake also stressed the importance of local value addition and domestic processing of minerals, noting that such measures would drive industrialisation, create jobs and promote technology transfer.
Earlier, the Permanent Secretary of the Ministry of Solid Minerals Development, Yusuf Yabo, described the awards ceremony as a reflection of the Federal Government’s determination to position the mining sector as a globally competitive driver of economic growth.
He added that the event recognised investments, innovation, partnerships and transformation recorded under the leadership of the current minister.
Also speaking, the President of SOMEA, Oladunmi Owo, said the initiative was created to honour individuals and organisations contributing to reforms and sustainable development in the mining sector.
The Chief Executive Officer of D-Gold, Omar Sahinolu, emphasised the importance of responsible mining practices, transparent governance and technological innovation.
The event, themed “Unlocking the Future,” featured awards across several categories including Leading Mining Company of the Year, Excellence in Sustainable and Safe Operations, and Outstanding Contribution to Sector Growth.
The News Agency of Nigeria reports that the awards were established to promote innovation, sustainability, responsible mining and investment in Nigeria’s solid minerals sector as part of broader efforts to diversify the economy.
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