At the BusinessDay Solid Minerals Conference, Minister of Solid Minerals Development, Dr. Dele Alake, issued a stern warning to mining companies in Nigeria, urging them to comply with revised Community Development Agreements (CDA) or face potential sanctions from the Federal Government.
During the conference, themed “Digging Deeper: Diversifying Nigeria’s Economy for Wealth Creation,” Alake commended BusinessDay for its journalistic integrity and commitment to independent and analytical information dissemination.
Reflecting on the historical context, the Minister lauded BusinessDay’s publisher, Frank Aigbogun, for his role in the struggle for democracy after the annulment of the June 12 elections. Alake credited Aigbogun for providing the platform that sustained the democratic restoration efforts.
Turning to the mining sector, Alake emphasized the progress of his 7-point agenda and revealed plans for the establishment of the Nigerian Solid Minerals Corporation. He highlighted collaboration with the National Assembly to create a legal foundation, ensuring a share structure aligned with a private sector-led strategy.
Alake disclosed the government’s exploration ambitions, including an integrated minerals exploration project covering the entire Nigerian landscape. He emphasized the commitment to improve security around mining sites, citing the establishment of an inter-ministerial committee chaired by President Bola Tinubu.
The Minister outlined steps taken to enhance the ease of doing business in the mining sector, such as digitizing the mining application processes through the Electronic Mining Cadastral System (eMC+). He assured ongoing efforts to update the Nigerian Mining and Minerals Act 2007 to align with national priorities.
Issuing a clear directive to mining companies, Alake announced the end of an era for disregarding revised guidelines for Community Development Agreements. He emphasized the government’s readiness to enforce compliance and mete out sanctions to defaulters.
In conclusion, the Minister reiterated the commitment of the Tinubu administration to transform the mining sector into Nigeria’s new petroleum. He urged BusinessDay to lead in propagating reforms and projecting the sector, emphasizing the pivotal role of the media in advancing these objectives.
