Minister of Solid Minerals Development, Dele Alake, says Nigeria is undergoing a critical economic transformation that requires visionary leadership, political courage, and strategic reforms capable of repositioning the country for long-term prosperity and industrial growth.
Speaking at the maiden edition of the Solid Minerals Excellence Awards 2026 in Abuja, Alake said the administration of President Bola Ahmed Tinubu remains committed to implementing difficult but necessary reforms aimed at overcoming decades of corruption, economic instability, weak institutions, and underdevelopment.
The minister noted that leadership must be driven by three critical principles — vision, knowledge, and courage — explaining that enduring national transformation can only be achieved through policies designed to benefit future generations rather than short-term political interests.
According to him, many of the reforms currently being implemented had long been identified as necessary, but previous administrations lacked the political will to execute them decisively due to resistance from beneficiaries of the old system.
Alake described the current economic hardship in the country as part of a painful but necessary transition period required to build a stronger and more sustainable economy.
He likened the process to a gestation period that must be endured before meaningful results begin to emerge.
Drawing from his experience in Lagos State, the minister recalled that similar reforms introduced years ago initially faced strong opposition before eventually transforming the state into one of Africa’s largest economies through improved revenue generation, institutional efficiency, and strategic economic planning.
Highlighting reforms within the solid minerals sector, Alake stated that the Federal Government had identified mining as a major pillar of the Renewed Hope Agenda and economic diversification policy aimed at reducing dependence on oil revenue.
He explained that upon assumption of office, the ministry embarked on comprehensive reforms targeting illegal mining, weak regulation, insecurity, dormant licenses, and lack of transparency across the sector.
The minister disclosed that the digitization of mining operations and licensing processes has significantly improved transparency, simplified access to licenses, and attracted thousands of new investors and operators into the sector.
According to him, the ministry also reviewed dormant mining licenses and strengthened compliance measures to ensure that mining assets contribute directly to national development and economic productivity.
Alake further revealed that the government expanded the Mining Marshals initiative by recruiting and deploying over 2,000 trained personnel to combat illegal mining activities and protect mining communities nationwide.
He noted that the security initiative has already led to several arrests, prosecutions, and increased compliance among mining operators, many of whom have now pledged to operate within the framework of government regulations.
The minister stressed that Africa’s mineral resources had historically been exploited for the benefit of foreign economies, beginning from the colonial era, and emphasized that Nigeria must now prioritize local value addition, industrialization, and domestic beneficiation of mineral resources.
He explained that the Federal Government’s policy direction now focuses on encouraging local processing of minerals to stimulate industrial growth, improve technology transfer, create jobs, and increase the sector’s contribution to the nation’s Gross Domestic Product.
In her opening speech, the President of SOMEA, Oladunmi Owo, described the Excellence Awards as a historic platform created to recognize and celebrate individuals, institutions, and organizations driving reforms, innovation, and sustainable development within Nigeria’s mining industry.
Owo commended the Federal Government, the Ministry of Solid Minerals Development, industry stakeholders, and private sector investors for supporting reforms aimed at repositioning Nigeria as a globally competitive mining destination capable of attracting strategic investments and generating economic growth.
Also speaking the Chief Executive officer of D-Gold, Omur Sahinolu emphasized that sustainable mining, responsible governance, technological innovation, and credible investment frameworks remain essential to building a transparent and globally respected mining industry in Nigeria.
Different categories of award was presented to individuals and organizations for shaping the future of the minerals sector.
The annual ceremony was organized to recognise excellence, leadership, innovation and outstanding contributions to the growth and sustainability of the nation’s solid minerals sector
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