Tag: Dele Alake

  • FG to boost foreign reserves base with locally sourced gold – Alake

    FG to boost foreign reserves base with locally sourced gold – Alake

    The Minister of Solid Minerals Development, Dr. Dele Alake, has reaffirmed the federal government’s commitment to strengthening Nigeria’s foreign reserves through an innovative gold acquisition programme that eliminates the need for dollar sourcing.

    Alake said this on Wednesday at the ongoing 10th edition of the Nigeria Mining Week in Abuja.

    According to the Minister, the programme, which is driven by the Solid Minerals Development Fund (SMDF), is designed to use gold locally mined to boost the country’s foreign reserves.

    Alake said the programme, which began in August, will help to grossly reduce the pressure on the Naira and the increasing demand for foreign currency.

    According to Alake, “This initiative allows us to purchase gold from local artisanal miners using naira, instead of sourcing dollars to buy gold internationally.

    READ ALSO: CBN, finance ministry present Nigeria’s economic progress at G24 meetings

    “Once the gold is acquired, it is added directly to the Central Bank of Nigeria’s (CBN) foreign reserves. It’s one of the fastest ways to reflect growth in our reserves,” he added.

    The Minister argued that because the gold is mined locally, there was no need to spend scarce foreign exchange, making it a strategic solution to multiple economic challenges.

    Highlighting the benefits of the programme, Alake said, “The programme supports local employment and economic activity, as miners and workers are paid in naira and spend within the local economy.

    “In 2025, we allocated even more funds to this programme. The President has shown strong confidence in its potential by approving substantial budgetary support,” Alake stated.

    He emphasized that President Bola Ahmed Tinubu’s administration is committed and determined to pursue the gold initiative “with vigor and assiduity,” stressing that it is one of the most effective strategies available to enhance Nigeria’s economic stability.

    In her presentation at the mining week, the Executive Secretary of the Solid Minerals Development Fund (SMDF), Mrs. Fatima Shinkafi, called for an attitudinal change of stakeholders in the sector, stressing that the mining industry is a huge venture that requires serious planning, high investment, and long-term investment.

    “We underestimated the level of unpreparedness and misalignment within the sector. Many jump into mining thinking it’s a quick win, but it’s a serious business that requires serious science, funding, and long-term commitment.

    “Too often, people are speculating—chasing licenses based on rumors like ‘there’s gold behind my grandfather’s backyard.’ That mindset must shift. Mining goes far beyond artisanal thinking.”

    Expressing optimism of a bright future for the industry in Nigeria, Shinkafi noted, “Despite these challenges, Nigeria’s gold sector is bucking global trends. “Exploration funding is rising in Nigeria while it’s declining globally—we’re literally defying gravity.”

    She, however, noted that despite the global instability, including U.S.-China tensions, the war in Ukraine, and conflict in the Middle East, the SMDF boss pointed out that investors are increasingly turning to gold as a safe haven.

    “Gold just hit $4,200 per ounce, and institutions like Goldman Sachs and J.P. Morgan are now projecting $5,000. A year ago, that would’ve sounded ridiculous—now it’s very plausible.”

    She then admonished participants at the mining week to continue to support the government’s vision of making Nigeria a prime destination for junior miners and exploration investment.

    The SMDF Executive Secretary was full of commendations to the Minister of Solid Minerals for pivotal support, describing recent initiatives, reforms, and policies introduced by the Minister as “crucial to the next phase of our growth.”

    Meanwhile, the Miners Association of Nigeria (MAN), through its National Publicity Secretary, Fatai Jimoh, has expressed concern over the rising cost of service fees in the sector.

    Jimoh, who spoke with reporters at the 10th edition of the Nigeria Miners’ Week in Abuja, said it is becoming difficult for indigenous miners to keep up, lamenting that the cost of annual service fees has increased significantly over the past year.

    He explained that while the mining sector holds great potential, local miners need more support to grow and thrive.

    “We want to see more participation from local miners, and that means creating a system that supports their efforts and helps them succeed.” 

  • No threats can derail mining sector reforms, Alake declares

    No threats can derail mining sector reforms, Alake declares

    …says minerals pre-shipment agency underway

    The Minister of Solid Minerals Development, Dr. Dele Alake, has vowed that neither threats nor blackmail will deter him or undermine the federal government’s transformative agenda in Nigeria’s mining sector.

    Speaking at a media briefing over the weekend ahead of the 10th Nigeria Mining Week, scheduled to commence on Monday, Alake reaffirmed President Bola Ahmed Tinubu’s commitment to ongoing reforms, which he said are already delivering results.

    The minister highlighted key indicators, including data from the National Bureau of Statistics (NBS), as evidence of progress.

    “Ten years ago, the contribution of mining to our nation’s GDP was less than 0.5 percent, but today it has risen to 1.8 percent, with NBS figures showing an unprecedented 4.61 percent in Q2, 2025. In practical terms, this means more mines in operation, more companies investing, and more communities benefiting from mining activity,” he said.

    Reflecting on the sector’s evolution, Alake noted that Nigeria Mining Week has mirrored the industry’s shift from informality to a structured, innovation-driven, and investor-friendly environment.

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    He highlighted reforms aimed at enhancing transparency, reducing investment risks, and optimizing the mining value chain.

    Acknowledging resistance to regulatory strengthening, including threats to his life, the minister expressed unwavering resolve.

    “No amount of intimidation, sponsored articles by unpatriotic writers, or a campaign of calumny can deter the vision of repositioning the mining sector,” Alake declared.

    He noted, “ The mining sector was hitherto an all-comers affair where operators got away with flagrant abuse of regulations. When we came in, we made efforts to correct this anomaly, and those affected have been employing all forms of tactics, including threats and blackmail to force us to reverse course. I want to assure Nigerians that our resolve is unflinching. We are going ahead to enforce strictly all regulations, no matter whose ox is gored.”

    The minister cited the revocation of mining licenses, reiterating that it is an on-going process, emphasizing that the era in which people defaulted in payment of annual service fees or held in licenses for over 10 years without using it or commencing any form of operation is gone with the wind.

    He asserted that the “Use it or Lose it” clause in the mining act will be strictly enforced to pave the way for serious investors to develop the mining sector.

    “Our desire for a very conducive operating environment should not indulge those who are in constant default of the regulations. We won’t tolerate that. I have had to triple my personal security following threats received from some of those whose licenses were revoked, but I am undaunted. Our confidence is hinged on the fact that we are waging the battle based on principle, for the sake of our country”, Alake added

    He also hinted at the establishment of a new pre-shipment agency for solid minerals, affirming that the installation of satellite surveillance of mining sites is also underway alongside plans to double the personnel of the mining marshals.

    This aimed at ensuring that the mobile squad has an active presence in all local governments in the country and is fully equipped to curtail illegal mining.

    The minister urged all stakeholders, industry players and investors to join in making the mining week a resounding success asserting that it promises to be a platform for networking, consolidating on progress made, attracting responsible investments and ensuring that the mining sector contributes substantially to Nigeria’s industrialization.

    The 10th Nigerian Mining Week themed, “Nigerian Mining: From Progress to Global Relevance” is organized by the Ministry of Solid Minerals Development (MSMD) in partnership with the Miners Association of Nigeria, Vuka Group, PwC amongst others.

    It is billed to hold from the 13th to 15th October 2025 at the Abuja Continental Hotel.

  • Nigeria’s mining sector records decade of growth —Alake

    Nigeria’s mining sector records decade of growth —Alake

    The Minister of Solid Minerals Development, Dr. Dele Alake has said that Nigeria’s mining sector has recorded significant growth over the past decade.

    He also said that the sector has increased its contribution to the national Gross Domestic Product (GDP) from less than 0.5 per cent in the 10 years to about 1.8 per cent with a target of 3 per cent within the next few years.

    The minister disclosed this yesterday during a pre-event press briefing in Abuja ahead of the 10th edition of the Nigeria Mining Week, scheduled for 13–15 October, 2025.

    Alake noted that the week provides an opportunity for stakeholders to review sectoral progress, assess challenges, and align on policy directions going forward, stressing that the event “is not only a technical convening but also an occasion to reinforce national objectives around value addition, environmental responsibility, and community development.”

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    The minister then highlighted the various reforms being undertaken under the current administration’s Renewed Hope Agenda to improve governance and enhance transparency in the sector.

    “Some of these include strengthening of the Solid Minerals Development Fund (SMDF) to support project financing and private sector participation, expansion of geological mapping and digitization of mineral data to improve access to information for potential investors.

    “Others are creation of Mining Marshals in collaboration with security agencies, to address illegal mining and improve safety in mining areas, operational improvements at the Mining Cadastral Office to ensure a more transparent and accountable licensing process; amongst others.”

    Alake noted that Nigeria’s mining policy now focuses on beneficiation and value addition rather than the historical model of raw material exportation, adding that his Ministry is working to align the sector with broader national goals, including industrialization, job creation, and sustainable development.

    He then said that the forthcoming Mining Week would include discussions on critical minerals, infrastructure requirements, and investment frameworks, especially as Nigeria explores the global energy transition and increasing demand for minerals such as lithium and rare earth elements.

    President of Miners Association of Nigeria, Mr. Dele Ayanleke, described the week as a major milestone in Nigeria’s mining journey, marking a decade of dialogue, innovation, and sector-wide collaboration.

    Ayanleke, who commended the minister for his leadership in driving sector reforms, acknowledged the support of stakeholders, sponsors, and industry partners.

    Acknowledging that progress has been made in exploration, data availability, and local beneficiation, the President noted that the sector still grapples with challenges such as illegal mining, insecurity, and infrastructure deficits

    Earlier a partner from PricewaterhouseCoopers, PwC, Habeeb Jaiyeola stressed that the annual event has served as the foremost platform for shaping the conservation on Nigeria’s mining self-driving dialogue, building consensus and crafting solutions that position mining as a true engine of shared prosperity for all Nigerians.

    Also, the representatives from VUKA Group, Samukelo Madlabane, emphasised that discussions would be focused on exploration finance, the rise of indigenous junior miners, and the creation of a globally competitive investment climate.

  • Nigeria’s mining sector records decade of growth – Alake

    Nigeria’s mining sector records decade of growth – Alake

    The Minister of Solid Minerals Development, Dr. Dele Alake, has revealed that Nigeria’s mining sector has experienced remarkable growth over the past decade, raising its contribution to the national Gross Domestic Product (GDP) from less than 0.5 percent to about 1.8 percent.

    He added that the federal government aims to increase the figure to 3 percent within the next few years.

    Speaking at a press briefing in Abuja ahead of the 10th edition of the Nigeria Mining Week, scheduled for October 13–15, 2025, Alake described the upcoming event as a crucial platform for reviewing progress, tackling challenges, and aligning on future policy directions in the sector.

    He said the forum would “reinforce national objectives around value addition, environmental responsibility, and community development,” while highlighting reforms under the Tinubu administration’s Renewed Hope Agenda.

    According to him, these reforms include strengthening the Solid Minerals Development Fund (SMDF) to support project financing, expanding geological mapping and digitization of mineral data, creating the Mining Marshals in collaboration with security agencies to curb illegal mining, and improving transparency at the Mining Cadastral Office.

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    Alake emphasised that the new mining policy focuses on beneficiation and value addition rather than the historical export of raw materials, aligning the sector with Nigeria’s broader goals of industrialization, job creation, and sustainable development.

    He disclosed that discussions at the Mining Week will focus on critical minerals, infrastructure needs, and investment frameworks, especially as Nigeria positions itself for opportunities in the global energy transition and demand for minerals like lithium and rare earth elements.

    President of the Miners Association of Nigeria, Mr. Dele Ayanleke, described the event as a milestone in Nigeria’s mining journey, marking a decade of dialogue and innovation in the sector. He commended Alake’s leadership in driving reforms but acknowledged lingering challenges such as illegal mining, insecurity, and infrastructure deficits.

    Also speaking, PwC Partner Habeeb Jaiyeola and VUKA Group representative Samukelo Madlabane said the conference would focus on exploration finance, the rise of indigenous junior miners, and strategies to create a globally competitive investment climate.

    Over 100 exhibitors and 3,500 participants from Nigeria and abroad are expected to attend the three-day event, which will feature Deal Rooms, Technical Workshops, and Strategic Forums aimed at strengthening investment and knowledge-sharing in Nigeria’s mining industry.

  • President celebrates Dele Alake at 69

    President celebrates Dele Alake at 69

    • He’s a dependable ally, loyal patriot, says President

    President Bola Ahmed Tinubu has congratulated the Minister of Solid Minerals, Dr. Dele Alake, on his 69th birthday yesterday.

    The President described him as a dependable ally, consummate strategist, and a loyal patriot whose contributions to national development span decades.

    In a statement yesterday in Abuja by his Special Adviser on Information and Strategy, Mr. Bayo Onanuga, President Tinubu eulogised Dr. Alake for his long-standing record of excellence in journalism, public service, and strategic communication.

    The President also described the minister as one of the most accomplished professionals of his generation.

    He recalled their long years of friendship and partnership anchored on shared values of service, integrity, and commitment to Nigeria’s progress.

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    “Dr. Dele Alake has remained a committed, loyal, and outstanding ally for several decades. His steadfastness and unyielding commitment to national development and progress stand him out as a patriot,” the President said.

    President Tinubu also applauded the minister’s ongoing efforts to reposition the solid minerals sector as a major revenue earner for the country.

    He said Alake’s reforms — including investment promotion, policy innovation, and the integration of artisanal miners into the formal economy — align with the goals of the Renewed Hope Agenda.

    “On this special day, I pray that Almighty God will continue to bless Dele with good health, wisdom, and strength,” President Tinubu added.

    Alake, a veteran journalist and former Commissioner for Information and Strategy in Lagos State, has been a long-time associate of President Tinubu since the 1990s and currently leads the administration’s drive to harness Nigeria’s mineral wealth for sustainable development.

  • Garlands for the Guardian of the Mines at 69

    Garlands for the Guardian of the Mines at 69

    By Kehinde Bamigbetan

    Today, 6 October 2025, the Honourable Minister of Solid Minerals Development, Dr.Henry Dele Alake  clocks 69. For many in Nigeria, the name conjures memories of his decades as a journalist and public communicator. These days, it represents a new hope for sustainable reform in Nigeria’s solid minerals sector and Africa’s mining industry.

    To understand the minister, you must know his father, Pa Michael Ojo Alake. He graduated in Philosophy from Fourah Bay College, then West Africa’s most prestigious university. He later founded and ran the Benevolent High School in Lagos, where indigenes of his home town Ikoro-Ekiti, as well as indigent students, attended free of charge. His sacrifice was not ignored. The Ikoro people gave him the title, Eleyinmi of Ikoro-Ekiti to appreciate his benevolence.

    Between 1979 and 1983, Alake Senior was one of the trusted advisers of Governor Lateef Jakande on the formulation and implementation of the free education programme, a scheme which scrapped the classroom shift system and built over 500 new schools to accommodate the pupils in one single shift within four years.

    Being an educationist, Alake Senior knew the impact of good schools in forming the character of a civilized, confident and progressive child. He put his son in the best schools of the times -Surulere Baptist Primary School, Surulere, Lagos; Christ’s School, Ado-Ekiti, Igbobi College, Yaba- and topped it with university education at the University of Lagos, where the minister studied Political Science and later earned a Master’s in Mass Communication. But his exposure was not only academic. His inter-campus, extra-curricular engagements brought him under the influence of Professor Wole Soyinka, further raising his social consciousness and commitment to public good.

    This pedigree set a high standard in morality, elocution, and public service for the minister. He is still  determined to surpass it. His father excelled in education, but he chose communications. As soon as he enrolled in the National Youth Service Corps and was deployed to Ogun State Radio, his hard work and creativity were noticed. The organization entrusted him with tasks of confirmed staffers. His work led to his engagement with Lagos State Radio and a quick elevation to Senior Sub-Editor—one of the fastest advancements in the organization’s history.

    The Crusader

    As columnist, news manager, and editor, Alake made crusading for good governance the raison d’être of his career. His choice of stories and writings was deliberately crafted to conscientize the readers in the fashion of Paulo Freire’s Pedagogy of the Oppressed. This required immense courage under military rule, and he was often the guest of the secret service. At such times, they would find him ready with his toilet bag. At one point, Concord Press of Nigeria, where he worked, was put under lock and key by the junta. But this didn’t deter the crusader, whose conviction that journalism must have social relevance made him even more determined to mobilise the people to resist bad governance. To Dele, the words of Frantz Fannon, that “   the future will have no pity for those men, who, possessing the exceptional privilege of being able to speak words of truth to their oppressors but have, instead, taken refuge in an attitude of passivity, of mute indifference, and sometimes, of cold complicity” was a call to be an agent of change.

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    The annulment of the June 12, 1993 election won freely by the publisher of Concord Press, Bashorun Moshood Kashimawo Abiola thrust him into the epicentre of the struggle for the actualization of this historic exercise of popular sovereignty by the Nigerian people. In that titanic struggle, he met and worked alongside Senator Bola Tinubu, who had given up his plan to be president of the Third Republic Senate to facilitate Abiola’s emergence. A comradeship that endures to date was forged in the furnace of that struggle, in Nigeria and  exile. Indeed, Tinubu’s plan to return to the Senate in 1998 was diverted to governorship by advisers such as Alake, who believed he had established the progressive profile and financial wizardry to execute Abiola’s manifesto, Farewell to Poverty, in Lagos State at a micro-level and later escalate to the national level. When Bola Tinubu became Governor of Lagos State in 1999, Alake became the Lagos State Commissioner for Information & Strategy, a position he held  till 2007. In that capacity, he was instrumental in shaping the communications strategy and public image of the Tinubu administration in Lagos. Beyond Lagos, Alake’s involvement in national politics deepened. In December 2014, he was appointed Director of Media and Communication for the Buhari Campaign Organisation during the 2015 presidential election. Over the years, he cultivated a reputation as a strategist, tactician, and loyal political confidant of  PresidentTinubu.

    The Mining Reformer

    Only a man like Alake, who has established the mental agility for cracking difficult tasks and a record of standing up to the status quo, could have been assigned the herculean task of cleaning the Augean stable of the solid minerals sector. The risks were real: weak institutions, vested interests in illicit mining, and security challenges—all posed serious headwinds. Without strong follow-through, even well-intended policies can stall. Since his appointment as the Minister of Solid Minerals Development in August 2023, he has led efforts to reform a sector long considered underutilized, fragmented, and rife with regulatory inefficiencies.

    Alake hit the ground running by applying the agenda-setting theory of journalism. He developed the Seven-Point Agenda for international competitiveness and local industrialization of Nigeria’s mining sector through critical research and review of the literature and interviews with stakeholders. He identified the challenges such as  insecurity caused by illegal miners and bandits,  speculation in licence administration,  violations of the Minerals and Mining Act 2007, corporate void caused by the winding down of the Nigerian Mining Corporation,  low rates of royalties and administrative fees despite multi-million dollar technological investment and the failure to establish statutory and regulatory bodies such as the Environmental Rehabilitation Fund.. He was very passionate on reversing the export of raw minerals and ensuring that minerals were processed locally to provide jobs and attract higher prices in the international markets.

    In 25 months, Alake put no one in doubt that a new sheriff is in charge in the solid minerals sector. He took many steps. He set up the Mining Marshals to combat illegal mining and banditry, revoked 3,974 titles for failure to pay annual service fee or refusal to mine after obtaining licences, established the private sector-oriented Nigerian Solid Minerals Company and the Environmental Rehabilitation Fund,increased rates of administrative fees and royalties, and revolutionised mining communications. To top it all,  advocacy for value addition that he espoused for the first time at the Future Minerals Forum in Riyadh in January 2024, won the hearts of ministers of mining in Africa. To maintain the momentum across the continent, they formed the Africa Minerals Strategy Group and made him the pioneer chairman. A year after, at the 2025 Future Minerals Forum, they poured encomiums on Alake for branding the one-year old AMSG into a continental colossus!

    The results of Alake’s reforms in the solid minerals sector form a major component of the achievements of the Renewed Hope Agenda of the administration of President Bola Ahmed Tinubu. These include an increase in revenue of the Nigerian Mining Cadastral Office from N6billion in 2023 to N12.5 billion in 2024. It has  reported N10 billion between January and April, this year. Similarly, for the first time,  royalties collected by the Mines Inspectorate department of the Ministry peaked at  N6.4 billion as at December, last year.

    The advocacy for value addition has stimulated mineral processing and manufacturing projects such as Hasetins $400 million Rare Earth plant,$60 million ASBA lithium processing plant, $200 million Canmax Lithium plant, $200 million New Energy Materials Company Lithium plant and new processing projects are in the pipeline. It has encouraged existing plants such as Segilola/Thor, Kursi,  Africa Industries Group to scale up operations. The Ministry, through SMDF, its funding agency, is also planning to invest in the $1.3billiom alumina and $96.8million silica processing projects in collaboration with the Africa Finance Corporation.

    The establishment of the Mining Marshals has led to the prosecution of over 300 suspected illegal miners by the Mining Marshals, dislodgement of illegal miners from 90 licenced areas and monitoring of 450 locations occupied by illegal miners. With more logistical resources, the enforcement of the mining laws will surely be intensified.

    Transparency and accountability in licence administration have been achieved with the upgrade of the Electronic Mining Cadastre system, launch of mining decisions website and the improvement of content on the websites of the Nigerian Geological Survey Agency and the ministry. Today, research for and applications for licences can be initiated 24 hours every day from anywhere on the earth.

    Alake has also intervened in human capacity development. His deal with the Australian government, negotiated during the Africa Down Under in September 2023 was executed this year with the training of the first batch of Nigerian geologists in modern exploration practices at the Murdoch university. Locally, over 250 youths have benefitted from workshops on gemology and jewellery making and the Institute of Geosciences continues to produce fresh mining professionals yearly.

    What no serious witness of the solid minerals sector won’t contest is Alake’s sterling achievement in ensuring better compliance with the law. Operators are now more alert to their responsibilities and religious in observing deadlines and the rules of engagement.

    With these records, Alake continues the family tradition by devotiny his life to the service of his fatherland. It is a daily grind of hardwork, creativity and persistence that may make him forget that another year has passed and today is his birthday. This article is a gentle reminder for him to take a day off and celebrate God’s grace. Happy birthday, sir!

    Bamigbetan, former Commissioner for Information & Strategy in Lagos State, is the Special Adviser to Dr. Dele Alake, the Honourable Minister of Solid Minerals Development

  • Alake urges shift from raw mineral export to industrialization

    Alake urges shift from raw mineral export to industrialization

    …calls for Africa’s role in global green economy

    Minister of Solid Minerals Development and Chairman of the African Minerals Strategy Group (AMSG), Dr. Dele Alake, has called for a continental vision to transform Africa from a mere supplier of raw minerals into a global hub for mineral processing, innovation, and green industrialization.

    Speaking during the African Mining Week in Cape Town, South Africa, themed “Vision & Strategy – Setting the Stage for Minerals Industrialization,” Alake emphasised Africa’s strategic role in powering the 21st-century economy through its vast mineral wealth.

    In a statement issued in Abuja on Sunday by his special assistant on media, Segun Tomori, the minister noted that Africa possesses some of the richest mineral deposits in the world — resources essential for clean energy, digital technologies, advanced manufacturing, and global security.

    “Africa’s minerals have powered industrialization elsewhere while our own economies remain under-industrialized. This paradox must end. Our vision must be clear: to move from extractive dependence to transformative industrialization,” Alake stated.

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    He added, “Our youth should no longer seek jobs abroad while opportunities lie buried beneath their feet. The time to industrialize is now. Let us set the stage for an Africa that is not just a participant in the global minerals economy, but a driver of its future.”

    Highlighting Nigeria’s ongoing mining reforms, Alake — represented by the Permanent Secretary, Dr. Farouk Yabo — said the country is promoting local beneficiation from gold refining to lithium processing, revoking dormant licenses to attract serious investors, and strengthening transparency and governance to draw credible global partners.

    He also disclosed that Nigeria is developing a National Critical Minerals Strategy as part of its broader plan to foster industrial growth and sustainable development.

    In a related engagement, Alake addressed the ministerial roundtable of the African Minerals Strategy Group (AMSG) on the sidelines of the mining week, where he reiterated Nigeria’s commitment to building a $1 trillion economy by 2030 through value addition and strategic mineral development.

    His words, “We are investing in digitizing mining processes from data accessibility to mineral traceability. We are also focusing on bequeathing strong institutions and the right policies to drive reforms, hence the ongoing efforts to amend the 2007 Minerals and Mining Act to provide a more robust legislative framework that will propel investments in the mining sector”.

    He emphasised Nigeria’s commitment to ensure traceability from mining to monetization, affirming that the nation’s minerals are set to come from two sources: licensed holders or sellers and suppliers buying from Artisanal and Small-scale Miners (ASM) who are registered and formalized.

    Echoing the sentiments expressed by the Democratic Republic of Congo (DRC), Alake stressed that African countries must prioritize mapping their mineral resources to better understand the location and scale of deposits

    “After national mapping, it is the duty of countries to ensure only licensed operators are mining. We must also build adequate capacity for effective supervision,” he said.

    At the country’s spotlight session where the Permanent Secretary gave a presentation on Investment opportunities in the solid minerals sector, highlighting key reforms, incentives for investments, and a synopsis of the nation’s mineral endowments.

    The African Mining Week was attended by Mining & Minerals Ministers from DRC, Zimbabwe, and Sierra Leone. Nigeria, Gambia, and Ghana sent representatives, whilst major private sector players on the continent also graced the conference.

  • FG revokes 1,263 mineral licenses over non-payment of fees

    FG revokes 1,263 mineral licenses over non-payment of fees

    The Minister of Solid Minerals Development, Dele Alake, has revoked 1,263 mineral licenses belonging to operators who failed to pay mandatory annual service fees.

    The revocation, based on the recommendation of the Mining Cadastral Office (MCO), was announced in a statement by the minister’s special assistant on media, Segun Tomori, in Abuja on Sunday.

    The affected titles include 584 exploration licenses, 65 mining leases, 144 quarry licenses, and 470 small-scale mining leases.

    Alake explained that the move was aimed at sanitising the sector by eliminating speculators and unserious investors while creating fresh opportunities for committed players.

    “The era of obtaining licences and keeping them in drawers for the highest bidder while financially capable and industrious businessmen are complaining of access to good sites is over,” he said.

     “The annual service fee is the minimum evidence that you are interested in mining. You don’t have to wait for us to revoke the license because the law allows you to return it if you change your mind.”

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    Warning that the revocation does not mean that the government has pardoned the defaulters, the Minister said that the list of offenders would be forwarded to the Economic and Financial Crimes Commission (EFCC) for recovery.

    “This is to encourage due diligence and emphasise the consequences of inundating the license application processes with speculative activities,” he added.

    In the recommendation to the minister, the Director-General of the MCO, Simon Nkom, disclosed that there were 1,957 initial defaulters when his agency published the intention to revoke licences in the Federal Government Gazette on June 19, 2025.

    He informed the minister that the gazette was distributed to MCO offices nationwide to sensitise licencees and encourage them to comply within 30 days in compliance with the Minerals and Mining Act 2007 and relevant regulations

    He observed that the delay in the final recommendation was due to complaints of several licensees who claimed to have paid to the Federal Government through Remita and had to be reconciled.

    The latest revocation brings the total mineral titles revoked under the current administration to 3, 794 including 619 mineral titles revoked for defaulting in paying annual service fees and 912 for dormancy last year.

    According to Alake, the move is part of ongoing reforms to sanitise the mining sector, with “massive and manifest” positive impacts already being recorded despite resistance from defaulters and their agents.

  • Alake: capital market critical to Nigeria’s mining growth

    Alake: capital market critical to Nigeria’s mining growth

    The Minister of Solid Minerals Development, Dr Dele Alake, has described the capital market as critical to facilitating a sustainable mining sector.

    Alake said this at a webinar on “Unlocking Nigeria’s Solid Minerals Potential through the Capital Market” on Wednesday.

    The webinar was organised by the Solid Minerals Development Fund (SMDF) in partnership with the Nigerian Association of Securities Dealers (NASD) OTC Securities Exchange.

    Alake was represented by his Senior Advisor on Mining and Policy, Amira Waziri.

    He said through the capital market, long-term financing for exploration and project development could be mobilised.

    “Through the capital market, we can support junior mining companies to list, raise funds and scale operations.

    “It will help to facilitate securitisation and monetisation of geological assets, and channel institutional capital into infrastructure and processing hubs,” he said.

    He said the webinar was timely and marked the beginning of a broader national conversation on using structured capital to unlock mineral wealth.

    “We look forward to collaborating with SMDF and other stakeholders to develop bespoke instruments, listings and frameworks that will make this vision a reality,” he said.

    The minister said the ministry remained committed to inclusive and strategic stakeholders’ engagement.

    He said the ministry was open to ideas, partnerships and joint efforts aimed at advancing the collective good of the mining industry.

    According to him, the ideas include continuous dialogue with host communities to ensure local participation and benefits.

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    He said stronger collaboration with financial institutions, Development Finance Institutions (DFIs) and capital market operators, alongside alignment with environmental and social best practices, would ensure sustainability of the mining sector.

    Alake said that Nigeria was on the verge of a mining renaissance, pointing out that while the nation possessed vast mineral resources and the political will, it still needed capital, technology and partnerships to fully realise this potential.

    “As we explore the possibilities before us today, let us keep in mind that this sector is not just about extracting minerals.

    “It is about building an economy that is inclusive, resilient and globally competitive,” he said.

    In his presentation on “Licencing Processes and Requirements of a Mining Asset”, the Director-General of the Mining Cadastre Office (MCO), Mr. Obadiah Nkom, advised investors to start with reconnaissance permit.

    Nkom described the permit as the smartest and lowest-cost entry into Nigeria’s mineral wealth.

    “For communities, understand reconnaissance as the beginning of shared prosperity, not exploitation,” he said.

    He said the reconnaissance permit was non-exclusive, valid for one year and renewable annually, whereas other mineral title licences were exclusive.

    According to him, MCO as a key regulator of the mining sector, will continue digitising its processes and enforcing standards in the sector.

    Also, an expert, Paul Lalovich, said that tokenisation involved converting mineral assets, rights, or commodities into blockchain-based tokens to raise funds and make ownership more accessible.

    Lalovich said that tokenisation had the potential to bring trillions in value chain, and was already transforming the way assets were managed and traded.

    His presentation was titled, “Real World Asset to Tokenisation As a Means to Unlock Early-Stage Exploration Funding”.

    He said there was a rising demand in investing in tokenised assets as investors believed in its long-term value.

    In her remarks, the SMDF Executive Secretary, Hajiya Fatima Shinkafi, said that the conversations at the webinar were aimed at shedding light on critical elements of the mining asset development cycle.

    Shinkafi was represented by her Executive Assistant, Omotayo Omitokun.

    She said the insights were vital as SMDF collectively works to deepen capital market participation in Nigeria’s mining sector and unlock the true value of the country’s mineral resources.

  • Alake: Ansaru commander’s conviction is victory over illegal mining

    Alake: Ansaru commander’s conviction is victory over illegal mining

    The Minister of Solid Minerals Development, Dr. Dele Alake, has said the conviction of the commander of the Ansaru terrorist group, Mahmud Usman, to a 15-year jail term is a major victory in the war against illegal mining.

    On Thursday, Justice Emeka Nwite of the Federal High Court in Abuja delivered the verdict, which remanded the accused in prison to face 31 other charges.

    Commending the judiciary for supporting the ministry’s efforts to crush illegal mining, the minister said the verdict had established that bandits engage in illegal mining to fund their operations.

    In a statement yesterday in Abuja by his Special Assistant on Media, Segun Tomori, Dr. Alake said: “It is gratifying for me that the judiciary is aligned with the ministry’s objective of zero tolerance for illegal mining. Further tightening of the noose around illegalities in mining continues as more drastic measures will be announced shortly.”

    The minister said the ministry would monitor the proceedings of the remaining 31 cases of terrorism against the Ansaru commanders.

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    He noted that the regulators of the mining sector have a lot to learn from the cases to improve their capacity to counter illegal mining.

    Alake praised the Department of State Services (DSS) for monitoring, detecting, and arresting terrorists to face the wrath of the law.

    “We shall increase inter-agency collaboration to raise the tempo of surveillance to rid our communities of illegal mining perpetrated by bandits,” he said.

    The Ansaru terrorist group, whose name means the Helpers for the Protection of Muslims in Black Africa, is facing charges for attacking the Nigerian Army’s Wawa Cantonment and raiding Kuje Prisons in Abuja in 2022, among other terrorist activities.

    Alake had set up the Mining Marshals in 2024 to combat illegal mining and improve the security of the sector. The effort is now paying off with the arrest and conviction of the Ansaru terrorist commander for illegal mining.