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Solid Minerals Will Contribute 50% To Nigeria’s GDP – Minister Says
The Minister of Solid Minerals, Mr. Dele Alake, has said that the ministry will add at least 50% to the Nigerian economy, just as he said that the Ministry is poised to attract Foreign Direct Investment to the country.

The Minister of Solid Minerals, Mr. Dele Alake, has said that the ministry will add at least 50% to the Nigerian economy, just as he said that the Ministry is poised to attract Foreign Direct Investment to the country.
The minister, who spoke during the unveiling of the ‘Agenda for the Transformation of the Solid Minerals for International Competitiveness and Domestic Prosperity’, in Abuja on Sunday, said that the ministry will focus on a seven-point agenda including the creation of the Nigerian Solid Minerals Corporation, Joint Ventures with Mining Multinationals, Big Data on specific seven priority minerals and their deposits, 30-day grace for illegal miners to join artisanal cooperatives, Mines Surveillance Task Force and Mine Police, Comprehensive review of all mining licenses and the creation of six (6) Mineral Processing Centres to focus on Value-Added products.
“President Bola Tinubu has taken firm, courageous decisions that have reset the logic of the Nigerian economy. The removal of subsidy and the adoption of a single exchange rate are among the fundamental transformational policies of this administration. This radical approach to making the economy resilient in the long term is the guiding principle of the management of the Ministry.
“The Ministry has to take the bull by the horns if the country must reap the harvest of the trillion dollars worth of minerals under the ground across the country. To achieve this laudable objective, there has to be a paradigm shift in the strategy by re-positioning the sector in terms of the human and capital factors that can drive its transformation,” the minister said.
On the creation of the Nigerian Solid Minerals Corporation, the minister said “mining is big business. Nigeria must assert its presence in this environment by replicating its strategic positioning in the petroleum sector by setting up a corporate body that plays in this field. Consequently, the Ministry shall work towards the incorporation of the Nigerian Solid Minerals Corporation.”
According to the Minister, the corporate body will have subsidiaries doing business in the seven priority areas that require immediate intervention and focus which include: Gold, Coal, Limestone, Bitumen, Lead, Iron-ore and Baryte. Existing enterprises, such as the National Iron-Ore Company, and ongoing arrangements, such as the Bitumen Concessioning Programme, will be reviewed to fit into this new system.
“The proposed corporation will seek and secure partnership investment agreements with big multinational companies worldwide to leverage on the attractive investment-friendly regime operating in the country to secure massive Foreign Direct Investment for the mining sector. The positioning of the national corporation as a guarantor and protector of the partnership agreements is expected to assure partners of our seriousness and fidelity.
“Similarly, the Solid Minerals Corporation will provide robust support for Nigerian businessmen seeking funding abroad and help to authenticate their investment proposals to speed up the commitment of their partners to invest. Domestically, the Solid Minerals Corporation will engage the Nigerian financial system, which has demonstrated palpable reluctance to support mineral prospecting and mining because of the long-term gestation of value generation by developing a Fund to facilitate investments in mining at interest rates that will be mutually agreed,” the minister said.
The minister said the country will leverage on the abundant precious minerals including gold, manganese, bitumen, lithium, iron ore, lead, zinc, limestone, uranium, columbite, barite, kaolin, gemstones, coal, topaz and copper that are in massive proportions to attract investors into country.
Nigeria has an estimated reserves include Gold (1 million ounces); Limestone (568 metric tonnes), Lead/Zinc, (Baryte (15 million metric tonnes), Bitumen (N1.1 billion barrels), Iron Ore (3 billion Metric Tonnes) and Coal, (N396 million). How did a sector with over 2 million operators, including over 633 small-scale companies and 251, 500 registered miners.
The minister also said the ministry is introducing a security tax force and mines police that will help the country combat illegal mining and smuggling.
“For the last time, let me declare that the Ministry is giving such persons 30 days grace to join a miners’ co-operative or find another vocation to do. On the expiration of the period, the full weight of the law will fall on anyone seen on a mining site without a determinable status. This message will be interpreted into Nigerian languages and broadcast on the radio to ensure no one is ignorant of this directive.
“From October, a rejuvenated security regime will become active in the solid minerals sector. This will include the Mine Police, sourced from the Nigeria Police and specially trained to detect illegal mining and apprehend offenders. The new Mines Surveillance Security Task Force will coordinate the Mines Police and proactively address high risk incidences of breach of Mining Laws. The Federal and State governments will also be encouraged to allocate the prosecution of cases against illegal miners to competent courts,” the minister said.
Speaking on the focus area the ministry will target towards improving developing the sector, the minister said that the ministry has identified several factors such as inefficient geo-data, weak implementation and enforcement, poor environmental, safety, and health policies, fragility and conflict, unregulated artisanal mining, low technical capacity, lack of access to financing, weak inter-governmental and inter-agency coordination and weak federal/state relations.
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Imperfectly Awesome Conversations Summit to Hold April 13

The third edition of the Imperfectly Awesome Conversations Summit hosted by Omotola Bamigbaiye PhD is set to hold on Sunday, April 13, 2025 at Muson Centre, Onikan, Lagos.
Imperfectly Awesome is Omotola Bamigbaiye’s ode to Resilience and Tenacity, which she first put together in her book titled, “Imperfectly Awesome”, written in an honest and relatable tone to help people love themselves, reinvent, and bloom.
According to Bamigbaiye, the transformative gathering is renowned for bringing together industry experts, business leaders, and influential personalities to inspire change, foster resilience, and celebrate authenticity.
“The third edition of the summit will feature deep, reflective discussions and compelling storytelling that embraces life’s inevitable challenges while highlighting the strength found in imperfection”, she said.
She noted that participants at the summit will have the opportunity to share their journeys of transformation, foster a supportive and inclusive space, advocate for wellbeing, and highlight the power of tenacity and resilience.
She disclosed that this edition of the summit would witness a diverse lineup of visionary speakers and thought leaders, also that the event promises to catalyse meaningful conversations that spark personal and collective empowerment.
She explained that the objectives of establishing the platform is to share stories of ‘becoming’ through our imperfect journeys, inspiring others for social and economic empowerment. Create a safe space where people can lean into to embrace authenticity, and lend a voice to championing wellbeing and supporting everyone who feels ‘not enough’’ in any area of life, while uplifting them to become their true selves through engagements as they embrace the power of positivity.
Bamigbaiye called on corporate organisations and well-meaning individuals to sponsor the summit as part of their corporate social responsibility initiatives.
-ENDS-
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NECA Calls for pragmatic approach on Policy implementation to prevent Job losses, business collapse

The Director-General, Nigeria Employers’ Consultative Association (NECA), Mr. Adewale Smatt-Oyerinde has called for a more pragmatic approach in the implementation of economic policies to ensure job security for the people and survival of businesses in Nigeria.
Speaking during his appearance on a popular business-related program, Business Nigeria on TVC, on Tuesday, March 11, 2025, Smatt-Oyerinde urged policymakers to review implementation of policies that could hinder economic growth and job creation in Nigeria
He highlighted the need for regulatory bodies to align their actions with the government’s broader economic recovery agenda pointing out that recent policy adjustments, such as the suspension of the 4% Free on Board (FOB) levy and the reduction of the 50% tariff, should be extended to other regulatory measures.
He noted that excessive levies and compliance costs imposed by government would ultimately impact consumers and the economy, urging it to consider long-term economic stability in the implementation of economic policies.
“While it is the law, expediency should come first. Is it appropriate to implement certain policies now when businesses are reducing capacity utilization, stock levels are increasing, and jobs are being lost? The law is not made to kill us; it is made to facilitate business growth. If it is now constituting a hindrance to the private sector and, by extension, the economy, then we must review it.”
“And if that same law is now constituting an endurance to development of the private sector, and by extension, an endurance to development of the economy of this nation, I think we can review it. If the 4% FOB can be suspended, if I see a feeling that the 50% tariff can also be reduced, can also be suspended, I think there is no reason why the FRCM cannot also take a cue from this pattern that has been initiated for us to save the horse, for us to save the goose that is laying the golden egg,” he said
He urged government to prioritize developing policies that would create business opportunities as against stifling business growth in Nigeria.
“This myopic view of revenue generation will do more damage to the bigger picture that the President is focused on. Every additional financial burden on businesses translates to job losses, higher consumer prices, and reduced disposable income for Nigerians. We must shift our focus to policies that promote business survival and economic recovery,” he concluded.
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About NECA
Nigerian Employers’ Consultative Association (NECA) plays a pivotal role in shaping labor policies and practices in Nigeria. With a strong focus on promoting industrial harmony, workers’ rights, and best practices, NECA advocates for policies that ensure the fair treatment of workers and the continued growth of Nigeria’s workforce.
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Benue Protest: Police arrests two ring leaders for culpable homicide

The Benue State Police Command said it has arrested two ring leaders in connection with the violent protest and destruction of properties in Naka, Gwer West Local Government Area LGA of Benue state.
The Commissioner of Police in the state, CP. Steve Yabanet, disclosed this in a statement signed by the Command’s Public Relations Officer (PPRO) CSP Catherine Anene and made available to newsmen in Makurdi on Wednesday.
The Commissioner said they are being charged for culpable homicide, destruction of property in Naka.
The statement said that “On 11/03/2025 at about 0900hrs information was received from Naka Police Division that some youths were protesting at Naka, the headquarter of Gwer-west Local Government Area.
“In response to this information, the Commissioner of Police, Benue state command, CP. Steve Yabanet swiftly moved to the area in company of other heads of security agencies and Security Adviser to the Governor of Benue state, Col. Alexander Ashungyu (rtd) to assess the situation and take necessary actions.
“Upon arrival at the scene, It was gathered that some suspected herders had attacked and killed three youths in the area.
“Consequently, the youths mobilized themselves for a protest that eventually became violent and led to the destruction of the local government secretariat, Ter Nagi’s palace and properties of other prominent sons of Gwer-west.”
According to him, the increased presence of police teams assisted the division to put the situation under control while two ring leaders of the youth were arrested and investigation is on going.
While commiserating with family members and friends of the youths that lost their lives, the CP condemned the killing and promised to bring perpetuators to book.
The CP also condemned the destruction of property by the youth and assured victims of the mischief that justice will be served.
CP Yabanet advised citizens to go about their lawful businesses as increased security presence in the area is meant to prevent further breakdown of law and order.
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