Alake Backs South-South Development Commission’s Bid to Unlock N’Delta’s Solid Minerals Wealth
The Minister of Solid Minerals Development, Dr Dele Alake, has pledged the Federal Government’s support for the South-South Development Commission (SSDC) to harness the region’s vast solid mineral resources for investment, job creation and sustainable economic development.
Alake made the commitment in Abuja when the Director-General of the SSDC, Usoro Offiong Akpabio and the Executive Director, Commercial and Environmental Development of the SSDC, Joseph Ugheoke, led a delegation of the commission on a courtesy visit to the Ministry.
The minister said the engagement was important in view of the Federal Government’s broader agenda of using the geopolitical development commissions established by President Bola Ahmed Tinubu to accelerate development and unlock the economic potentials of Nigeria’s six geopolitical zones.
He noted that while the South-South region was traditionally known for its oil and gas resources, it also possessed significant deposits of solid minerals that could play a major role in the ongoing diversification of the Nigerian economy.
Alake said reforms being implemented by the ministry were repositioning the solid minerals sector to become a major driver of industrialisation through local value addition, responsible mining, investment promotion and improved regulation.
He disclosed that the reforms had resulted in increased revenue accruing to the Federal Government from the sector, while more than $2.6 billion in foreign direct investment (FDI) had been attracted to the mining industry.
The minister also pointed to the emergence of mineral processing facilities across the country, saying the development had created employment opportunities for Nigerians and was helping to deepen value addition within the sector.
He urged the South-South states to take advantage of the Federal Government’s framework for direct state participation in mining through state-owned Special Purpose Vehicles (SPVs) and properly obtained mining titles.
According to him, a number of states had already secured mining licence approvals under the framework.
“Several states have already secured mining licence approvals through this framework,” he said.
Alake, however, cautioned state governments against introducing unilateral policies in the mining sector, stressing that regulatory consistency was critical to sustaining investors’ confidence.
He warned that multiple or conflicting regulatory authorities could undermine investment and slow down the development of the sector.
“We have a commonality of objective; we just need to harmonise our strategies and tactics to achieve it,” the minister said.
He assured the SSDC delegation of the ministry’s willingness to collaborate with the commission in developing the region’s mineral resources.
Earlier, Akpabio said the commission was seeking a practical partnership with the Ministry of Solid Minerals Development in the areas of sustainable mining, environmental innovation, investment promotion and job creation.
She said the SSDC would align its activities with the policies of the ministry while collaborating with state governments and security agencies to address challenges in the sector.
According to her, particular attention would be given to the training and formalisation of artisanal miners in the region.
The two parties also agreed on the need for regional stakeholder and investment engagements aimed at showcasing specific mineral opportunities in the South-South and connecting potential investors with viable mining projects.
Responding, Alake said the ministry would involve the SSDC in such engagements, describing the commission as a potential catalyst for increased investment and development in the region.
The minister said stronger collaboration between the ministry and the newly established geopolitical development bodies would help ensure that Nigeria’s mineral resources were effectively deployed to drive economic growth and development across the country.
The engagement is part of growing efforts by the Tinubu administration to link Nigeria’s mineral wealth with the new regional development architecture.
The strategy is expected to promote investment, industrialisation, employment generation and sustainable development by encouraging geopolitical regions to identify and develop their mineral assets in partnership with the Federal Government.
