Tinubu to make solid minerals mainstay of economy, says Alake

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Minister of Solid Minerals Development, Dr. Oladele Alake has restated President Bola Ahmed Tinubu’s resolve to make the solid minerals the nation’s economic mainstay as oil fortunes dwindle globally.

He made this known yesterday in Abuja while launching the Nigerian Minerals Resource Decision Support System (NMRDSS) to provide technological communication and accessibility in the mining sector.

Alake said the main objective of the administration is to significantly increase the contribution of the solid mineral sector to the gross domestic product of Nigeria and make it to surpass what the oil it is bringing to the national coffers.

He said: “Globally oil is dwindling. Minerals are rising and by the grace of God at the end of the gestation period of all our policy initiatives when the results begin to manifest across board. Nigeria will begin to grow, move on the Renewed Hope Agenda of Mr President, which is coming up to one year in a few weeks to come.”

Unveiling the Nigerian Minerals Resource Decision Support System (NMRDSS), the minister said the country had to move with the shift in attention from oil to solid minerals and the shift from reliance on fossil oil to reliance on solid.

He however noted that investors and players in the sector are met with difficulty in accessing inadequate information on the sector, hence the design of the platform to enhance, provide technological communication and accessibility in the mining sector.

The minister said when the platform is fully operational, it would not only cut the cost of investment research in the sector, it will also provide all the needed information that will guide prospective investors in making well informed decisions.

According to him, the system “seeks to cut the cost of investment research. Hitherto, many prospective investors physically travel to Nigeria to collect data on the geology, hydrology and even urban geography of the mining business. Today, we record a giant leap in investment prospecting.

“From the comfort of your office anywhere in the world, you can click the website of the Nigerian Minerals Resource Decision Support System and right before your eyes are the data that would have cost you air tickets to access six months ago.

The significance of this software to ease of doing business in the Mining sector is obvious. Besides, cutting expensive travel and lodging costs, it cuts through the labyrinth of information silos which has been an investors’ nightmare.

“It answers the question bothering any investor in the mines: Is there labour to employ? Is there a river or stream that I can use its water for processing? Is there a network of roads to haul my excavated materials to the factory?

“This NMDSS answers these questions with electronic diagrams and maps enabling you to develop scenarios to project your mining investments, plan your budget and hit the ground running.”

The unveiling ceremony was witnessed by stakeholders in the sector.

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