Economy: FG, Bauchi partner to enhance mining sector 

In its continuous efforts to enhance economic growth and development in the mining sector, the the Ministry of Solid Minerals Development, has expressed its willingness to collaborate and partner with Bauchi state, a mineral endowed state.

According to a statement on Saturday by Mr Alaba R. Balogun, Deputy Director (Information & PR), Minister for Solid Minerals Development, Dr Oladele Alake, made this known during the visit by the Executive Governor of Bauchi State, Bala Mohammed, to the Ministry’s headquarters in Abuja. 

On his entourage were Commissioners of different portfolios.

Dr Alake stated that the richness of Bauchi state in mineral endowment and the determination of its governor to develop the sector alligns with the agenda of President Bola Ahmed Tinubu’s administration to diversify the economy using the solid minerals sector as pivot to transform the economy, generate employment and increase revenue accruable to government coffers.

The Minister emphasised that the overarching need for Nigeria to diversify the economy cannot be overstated in view of global shift from fossil fuel to green energy, stressing the present evolution in manufacturing of electric cars as an instance of increase in global demand for cleaner energy. 

”So, if we do not take conscious steps, our country could be in dire straits. For our economic survival, we must diversify,” he said.

Reeling the activities cum achievements of the ministry under his watch since assumption of office, Dr Alake said deliberate policies and proactive measures had been taken by the ministry in line with presidential directive to sanitise the sector coupled with his advocacy visits to international fora on mining which included Perth, Australia; UNGA meeting (New York, USA) and Saudi Arabia to woo foreign investors. 

”All our activities In the last few months, generated a lot of global attention, interest and support from foreign investors. We are making headway in the sector,” he said.

Elaborating, he stated that the Ministry is making concerted efforts as well to promote and encourage local investment in the sector by way of creating conducive environment, adding, sustaining a robust engagement between Federal and State governments that will reduce friction is paramount to this administration. 

“State can now apply for mining licence and mine in their state, and pay necessary royalty and taxes to the Federal Government,” he said.

In his remarks, Bauchi state, Mallam Mohammed said the state will partner with the federal government in its bid to maximise benefits of minerals like lithium, lead, tin, columbite, kaolin etc; that abound to enhance it’s economic prosperity. 

While expressing his total support for the policies and proactive programmes of the ministry to sanitise the mining sector, the governor stated that with the shift of attention to solid minerals cum green energy, Bauchi state will key into the policies of the Ministry of Solid Minerals, especially promoting value addition to mineral processing in its state in addition to creating special purpose vehicle to develop the sector.