Kunle Kalejaye
Leed, England — The Minister of Solid Minerals, Dele Alake has revealed that the initial setup of the Nigeria Solid Minerals Corporation will be driven by the Ministry of Finance Incorporation (MOFI), with a structure patterned after the Nigeria Liquefied Natural Gas (NLNG) model.
He disclosed this on Monday during his meeting with the British Deputy High Commissioner to Nigeria, Jonny Baxter stating that the Solid Minerals Corporation will be an enduring legacy.
He explained that no future government will be able to exert any political interference. “The President has approved this initiative, and we are looking at a 50% equity stake for the private sector, 25% for Nigerians, and 25% for the Federal Government.
“As we look ahead to 2025, I am outlining our government’s plans to create a more competitive and globally recognised mining sector. We are focused on improving access to mining sites through the development of intermodal transport along the mining corridor – including roads, rail, and waterways,” he said.
He added that the ministry is strengthening the regulatory framework, remediating abandoned mining pits for productive use, ensuring investor security, and expanding exploration to generate comprehensive geo-data that will attract major players to our sector.
“This year is a pivotal year for our administration, as we emphasize our ongoing efforts to drive reforms across different sectors. I am pleased to note that the fruits of these efforts are beginning to manifest. Positive trends in the economy are already emerging, and prosperity is within reach,” he said.
