Solid Mineral Development: FEC Approves Alake's 7 Point Agenda

By Douglas Jones

In a significant move to boost the solid minerals sector in Nigeria, the Federal Executive Council (FEC) has given its approval to a comprehensive policy draft. This policy encompasses all aspects of the sector, including operations, guidelines, regulatory framework, sourcing, and mining.

Dubbed the "Agenda for the Transformation of the Solid Minerals Sector for International Competitiveness and Domestic Prosperity," the approved policy highlights several key initiatives. These initiatives aim to revolutionize the sector and position Nigeria as a global player in the solid minerals industry.

One of the key highlights of the agenda is the establishment of the Nigerian Solid Minerals Corporation. This corporation will play a crucial role in coordinating and overseeing activities in the sector, ensuring efficient and effective operations.

Additionally, the approved policy includes provisions for joint ventures with mining multinationals. This strategic partnership will enable Nigeria to leverage the expertise and resources of these global players to maximize the potential of its solid minerals resources.

To facilitate informed decision-making and resource allocation, the agenda emphasizes the need for comprehensive data on seven priority minerals and their deposits. This "Big Data" approach will provide valuable insights into the country's mineral wealth and guide future exploration and exploitation efforts.

Recognizing the importance of security in the mining sector, the agenda also proposes the establishment of a mine surveillance task force and Mine Police. These specialized units will work to ensure the safety and security of mining operations, protecting both workers and assets.

Speaking to reporters after the FEC meeting, the Minister of Solid Minerals Development, Dr. Dele Alake, expressed his satisfaction with the approval. He emphasized that this development empowers the ministry to address various issues, including security concerns, with precision and effectiveness.

The approval of this comprehensive policy draft marks a significant milestone in Nigeria's journey towards harnessing the full potential of its solid minerals sector. With the implementation of the approved agenda, Nigeria is poised to attract investment, create employment opportunities, and drive economic growth through the sustainable development of its mineral resources.

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