FG Supports South-South's Mineral Wealth Initiative

The Federal Government has endorsed the South-South Development Commission's plan to harness the mineral wealth of the South-South region. Minister of Solid Minerals Development, Dele Alake, stated that the region's solid mineral deposits could create jobs, attract investments, and support economic diversification.

This commitment was made during a courtesy visit by Usoro Akpabio, the Director-General of the South-South Development Commission, to the Ministry in Abuja. Alake highlighted the importance of developing solid minerals alongside the petroleum industry to contribute to the Federal Government's diversification agenda.

He noted that ongoing reforms in the ministry aim to transform mining into a key driver of industrialization, having attracted over $2.6 billion in foreign direct investment. Alake urged South-South states to utilize the Federal Government's framework for direct participation in mining, while cautioning against policies that conflict with federal regulations.

He emphasized the need for regulatory certainty to attract long-term investments in the sector.