The Federal Government of Nigeria (FGN) has reiterated its commitment to the revitalisation and development of the solid minerals and steel sectors.
In their respective New Year good will messages to Nigerians, the Minister of Solid Minerals Development, Dr Dele Alake, and his Steel counterpart, Prince Shuaibu Abubakar Audu, reaffirmed the government’s resolve to make both sectors viable to diversify the country’s economy, which has been solely based on oil, in line with the Renewed Hope agenda of the present President Tinubu-led administration.
Alake declared that the mining sector would experience a major leap in 2024 towards contributing substantially to the nation’s Gross Domestic Product (GDP).
Alake who assured that President Bola Tinubu’s vision of diversifying the economy through renewed focus on solid minerals is on course, expressed optimism that the reforms in the sector will yield the desired results towards a broad-based economy in the new year.
Signed by his media aide, Segun Tomori, the statement reads in part: “I felicitate Nigerians for making it through 2023 into the year 2024. It is pertinent that we collectively look forward to the horizon of the new year, with renewed hope, especially because it signposts the first fiscal year of the Tinubu administration.
“On our part in the solid minerals development ministry, we will be consolidating on reforms that commenced with our ambitious 7-point agenda, on assumption of office, four months ago.
“Nigerians are rest assured that an efficient governance structure that will transform the opaque nature of the mining sector will crystallise in the new year.
“It will be recalled that we had revoked 1,633 mining licenses of those that defaulted in the payment of annual service fees last year. More revocation is in the offing for other categories of defaulters in 2024.
“Our plans to tackle the menace of insecurity in mining areas alongside the activities of illegal miners through a rejigged security architecture is well on course.
“In a short while, we will see the result of months of engagement with heads of security agencies as we are poised to rout those plundering Nigeria’s mineral resources.”
On exploration, he said, “Efforts on exploration of critical minerals which started last year with the signing of an MOU with the German firm, GeoScan GmbH, for the deployment of proprietary technology to explore minerals up to 10,000m under the earth will be ramped up with renewed vigour by the federal government.
“This is crucial for the development of the sector as it will lead to the generation of ‘big geo-data’ required for global players to make informed decisions about investing in the industry.”
Alake further urged Nigerians to keep faith with the Tinubu administration, emphasising that reforms in the mining sector and other areas will jumpstart the real sector and lead to immense jobs and prosperity for all Nigerians.
“We are prioritizing value addition for prospective investors in the mining sector. The era of just carting away our resources is over. We want to see practical plans to develop these raw materials into finished products or plans to add value to host communities before we even license new operators.
“This is pertinent, so that the mining sector can lead the way in industrialisation, create massive job creation for our teeming young population, and contribute substantially to economic development in the new year,” Alake said.
While also felicitating with the President and people of Nigeria, the Minister and helmsman of the steel sector, Prince Audu, said 2024 presented a new and unique opportunity for the revival of the steel industry and the much desired industrialisation of Nigeria, affirming that steps were already being taken towards achieving these goals in the country.
In the statement signed by the Minister himself, he said, “I give gratitude to Almighty Allah for the successful completion of 2023 and felicitate with His Excellency, President Bola Ahmed Tinubu GCFR as well as Nigerians worldwide on the beginning of a new year 2024.
“2023 ushered in a new era of ‘Renewed Hope’ under the leadership of His Excellency, President Bola Ahmed Tinubu GCFR, with an eight-point agenda focused on Nigeria’s economic prosperity, job creation, poverty alleviation, as well as tackling the numerous security challenges, amongst other plans.
“At the core of the ‘Renewed Hope Agenda’ is the revitalization of the steel industry in Nigeria, which prompted the creation of the Ministry of Steel Development by Mr President in August 2023 with a core mandate.
“A roadmap will be designed in early 2024 for the resuscitation of the steel industry: a five-year plan for Nigeria’s steel sector revival and a three-year plan for the Ajaokuta steel plant.
“Our goal is to create over 500,000 jobs for Nigerians within an operational steel industry before the end of President Bola Ahmed Tinubu 2nd term in office. This particular vision is already being realised, with close to 200 youths already engaged in the steel industry across the country in my first 4 months in office. More will be done in this regard.”
Wishing Nigerians “a happy and prosperous 2024 filled with good health, peace, and progress”, Audu affirmed that international investors had shown firm commitments to invest billions of dollars in developing Nigeria’s steel industry and building new plants following President Tinubu’s efforts to secure investments for the steel industry in Nigeria at various international fora, and that his ministry was working assiduously to create a favourable operating environment for investors, both local and foreign.
He also spoke about plans to increase government levies on importation of steel into the country as part of the measures to ensure import substitution amongst other positive measures are put in place.
