The Minister of Solid Minerals, Dele Alake, has said President Bola Tinubu’s government is actively working to remove barriers to business.
Dele Alake said the government wants to foster a business-friendly environment conducive to viable investments.
Alake stated this during the CEO Roundtable at the 2024 Nigeria Mining Week. He urged the mining Chief Executive Officers (CEOs) to lead the establishment of a private sector-driven bank that operates independently of government influence.
“I urged the mining CEOs to take the lead in establishing mining development banks to secure long-term credit for the sector’s sustainable growth. I emphasized the need for a private-sector-driven bank that operates independently of government influence,” he said in a statement.
Speaking on state governments’ interference in mining, the Minister emphasized that state governments have no right in the mining sector.
He explained that the discussion was with state governments to involve them constructively by allowing them to apply for mining licenses as limited liability companies.
“I reassured them that our government is actively working to remove barriers to business, fostering an environment conducive to viable investments. I addressed their concerns about state interference in mining, reaffirming that sub-national entities do not have the authority to make mining policy decisions.
“Our discussions with state governments aim to involve them constructively, allowing them to apply for mining licenses as Limited Liability Companies, which several states have already adopted.
“Looking ahead, I outlined plans to improve the investment climate by developing a mining infrastructure corridor with inter-ministerial collaboration,” the statement added.
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