Alake Supports SSDC in Unlocking Solid Minerals Wealth

Mr. Henry Dele Alake, the Minister of Solid Minerals Development, expressed the Federal Government's commitment to supporting the South-South Development Commission (SSDC) in leveraging the region's solid mineral resources. During a courtesy visit by SSDC Director-General Ms. Usoro Offiong Akpabio in Abuja, Alake highlighted the significance of this collaboration in attracting investment, creating jobs, and promoting sustainable development.

He noted that while the South-South is known for oil and gas, it also has substantial solid mineral deposits that can aid Nigeria's economic diversification. Alake mentioned ongoing reforms in the solid minerals sector, which have led to increased revenue, over $2.6 billion in Foreign Direct Investment (FDI), and the establishment of mineral processing facilities.

He urged South-South states to utilize the Federal Government's framework for mining participation through state-owned Special Purpose Vehicles (SPVs) and cautioned against inconsistent state policies that could undermine investor confidence. Alake assured the SSDC of the Ministry's full cooperation in achieving common objectives.