The Minister of Solid Minerals Development, Dele Alake, has defended the current economic reforms of the Federal Government, describing them as difficult but essential steps toward building a stronger and more sustainable economy.
Alake made the remarks on Thursday in Abuja at the inaugural Solid Minerals Excellence Awards, where stakeholders in Nigeria’s mining sector were honoured for their contributions to growth and innovation.
According to him, Nigeria is undergoing a major economic transition designed to reduce dependence on oil, strengthen institutions, and promote long-term industrial development.
“Nigeria is undergoing a decisive economic transformation aimed at achieving long-term prosperity, industrial growth and national development through bold reforms and strategic leadership,” he said.
He stressed that the administration of President Bola Ahmed Tinubu remains committed to reforms that address long-standing structural problems in the economy.
“Effective leadership must be driven by vision, knowledge and courage,” Alake stated, adding that the government is confronting issues such as corruption, weak institutions, economic instability and overreliance on oil revenue.
The minister argued that while the reforms may be painful in the short term, they are necessary for future stability and growth.
He also maintained that meaningful national development requires policies driven by long-term national interest rather than political convenience.
Drawing a comparison with past reforms in Lagos State, Alake noted that similar policies initially faced resistance but eventually led to improved revenue generation and stronger institutions.
He explained that the solid minerals sector has become central to the government’s diversification agenda under the Renewed Hope programme, with ongoing efforts to curb illegal mining and improve regulation.
“The ministry has undertaken comprehensive reforms targeting illegal mining, weak regulatory structures, insecurity, dormant licences and lack of transparency in the sector,” he said.
Alake also disclosed that digitalisation of licensing processes has improved transparency and attracted greater investor confidence, while enforcement operations have been strengthened through the deployment of mining marshals across the country.
He said over 2,000 personnel have been deployed to combat illegal mining, resulting in arrests and prosecutions of offenders.
Earlier, the Permanent Secretary of the Ministry, Yusuf Yabo, said the awards ceremony reflected government efforts to reposition the mining sector as a key driver of economic diversification and global competitiveness.
Also speaking, stakeholders at the event, including the President of SOMEA, Oladunmi Owo, and the Chief Executive Officer of D-Gold, Omar Sahinolu, called for stronger commitment to responsible mining, transparency, and innovation in the sector.
The event also featured presentations to individuals and organisations recognised for excellence in sustainable operations, sector growth, and mining innovation..
