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Solid Minerals Corporation Will Be An Enduring Legacy  For Mining Sector – Alake

The Minister of Solid Minerals Development, Dr. Dele Alake, has assured Nigerians that establishing the Nigeria Solid Minerals Corporation will significantly transform the mining sector and lay the foundation for its sustainable development.

Speaking on Monday while receiving the British Deputy High Commissioner to Nigeria, HE Jonny Baxter, in his office, Alake disclosed that initial set up of the new corporation will be driven by the Ministry of Finance Incorporation (MOFI), with the structure patterned after the Nigeria Liquefied Natural Gas (NLNG) model.

“The Solid Minerals Corporation will be an enduring legacy. No future government will be able to exert any political interference. The President has approved this, and we are looking at a 50% equity stake for the private sector, 25% for Nigerians, and 25% for the Federal Government,” the Minister emphasized.

Looking ahead to 2025, Alake outlined the government’s plans to create a more competitive and globally recognized mining sector.

According to him, “We are focused on improving access to mining sites through the development of intermodal transport along the mining corridor – including roads, rail, and waterways; 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 the sector.”

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