Solid Minerals: Federal Govt Targets 50% Contribution To GDP

The federal government has vowed to block leakages hindering the collection of accruable revenues in the solid minerals sector as well as achieving its target of 50 per cent contribution to the gross domestic product (GDP) of the country.

Minister for solid minerals development, Dr Oladele Alake, made this comment during his visit to the Mining Cadastre Office (MCO) in Abuja in his familiarisation tour of agencies of the ministry.

In a statement by Alaba Balogun, the ministry’s spokesman,  Dr Alake explained that the deliberate decision to block all leakages and loopholes across agencies of the Ministry with the aim of reviewing and enhancing revenues is deemed imperative in view of government’s high expectation for revenue from the solid minerals sector to facilitate implementation of programmes that will lift the people out of poverty, generate employment opportunities and create wealth under the Renewed Hope Agenda of the present administration.

The minister said: “We will take firm decisions in record time, block all leakages and loopholes to enhance revenue. We’ll review all fees paid by operators and businessmen; that will cut across all the agencies of the Ministry.’’

Speaking further, Alake said the ministry was posed to meet its target projection of making the solid minerals sector achieve its target of 50 per cent contribution to the GDP of Nigeria.

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The solid minerals sector, he reiterated, is the next oil, adding that the government would apply all legitimate measures to seal revenue leakages in the sector.

He commended the Mining Cadastre Office for its contributions to the overall achievements of the ministry and urged its officials not only to maintain its level of success but strive to achieve and surpass the federal government’s target of making solid minerals a major contributor to the national purse.

The director-general of the Mining Cadastre Office (MCO), Engr. Simon Nkom briefed the minister on the agency’s activities, achievements and challenges, citing the need to upgrade its e-MCO+ to the new system for efficiency in the management of Cadastre applications.

Dr Alake also visited another agency under his watch, the Nigeria Geophysical Survey Agency (NGSA), where he underlined its special role in overall  national development, particularly in  projecting and generating vital data for all professional fields.

‘Nigeria Geophysical Survey Agency (NGSA) affects every sector of the economy; data, information and intelligence is power. 

Every decision maker needs it’’, Dr Alake stated.

The director-general of the NGSA, Dr Garba AbdulRazak, took his time to brief the minister about its mandate, its programmes and activities, with a guided tour of the agency’s museum in its headquarters building.

During his visit to the Council of Nigerian Mining Engineers and Geoscientists (COMEG), Dr Oladele Alake stated that the agency could not be relegated as it performs a role that is critical to the survival of the sector and the nation as a whole.

‘’COMEG as a quasi-academic body is helping to ensure quality control in the training and practices of professionals in the Nigerian Extractive Industry,” he said.

The minister assured the chief executives of the three agencies – MCO, NGSA and COMEG – of the ministry’s continuous support, cooperation and collaboration in addressing and resolving their peculiar challenges.