Minister Alake supports the South-South Commission to unlock solid mineral wealth

Solid Mineral Development Minister Dele Alake has pledged the ministry’s full support to the South-South Development Commission (SSDC) to harness the region’s solid mineral resources for investment, job creation and sustainable development.

In a statement issued on Tuesday by Lara Owoeye Wise, Special Assistant to the Minister on Media, Alake made the commitment when the Director-General of the commission, Usoro Offiong Akpabio, led a delegation on a courtesy visit to the ministry in Abuja.

The minister said the commitment was particularly significant given the Federal Government’s broader agenda to utilize the geopolitical development commissions established by President Bola Ahmed Tinubu to accelerate development and unlock the economic potential of Nigeria’s six geopolitical zones.

He noted that the South-South, known for its oil and gas reserves, is strategically positioned in the nation’s diversification journey because it possesses significant deposits of solid minerals.

Alake said the ministry’s reforms are repositioning the sector to become a major driver of industrialization through local value addition, responsible mining, investment promotion and stronger regulation.

He highlighted the progress recorded since the inception of the reforms, including a sharp increase in revenue accruing to the Federal Government from the sector and more than $2.6 billion in Foreign Direct Investment (FDI) along with the emergence of mineral processing plants that have profitably employed Nigerians across the country.

The minister also encouraged 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, “Several states have already got mining licenses approved through this framework.”

He however warned against unilateral state policies on mining, stressing that regulatory coherence is essential to give investor confidence and avoid multiple or conflicting authorities in the sector.

“We have a common goal; we just need to harmonize our strategies and tactics to achieve it,” the minister said, assuring the commission of the ministry’s collaboration.

Previously, Akpabio said the SSDC was seeking a practical partnership with the ministry on sustainable mining, environmental innovation, investment and job creation. He said the commission would align its activities with the ministry’s policies and work with state authorities and security agencies, particularly in the training and formalization of artisanal miners.

The minister and SSDC leadership also agreed on the importance of regional stakeholders and investment commitments to showcase specific mining opportunities and connect investors with projects in the South-South.

In response, Alake said the Ministry would involve the SSDC in such engagements, describing the commission as a potential driver of greater investment and development in the region.

This effort is part of a growing collaboration between the ministry and geopolitical development bodies established by the Tinubu administration.

Similar commitments have recently seen regional development stakeholders, including the North West Development Coalition, seek partnerships with the ministry in order to harness Nigeria’s mineral wealth for regional economic development.

The collaboration underlines the government’s emerging strategy of connecting Nigeria’s mineral resources with the new regional development architecture to drive investment, industrialisation, employment and sustainable development across geopolitical zones.