In a business session at the State House during the State Visit of the German President, Frank-Walter Steinmeier, President Tinubu said activation of the latent potentials in the energy sector remains central to Nigeria’s development.
Browsing: solid minerals
NEITI disclosed this on Wednesday in Abuja when it presented the 2023 Solid Minerals Audit Report, which is the 16th audit cycle.
The Federal Government pays a 13 percent derivation fund from the federation account to oil-producing states through the state governments.
The Chairman, House Committee on Solid Minerals, Hon. Jonathan Gbefwi, revealed this on Tuesday.
Gbefwi said this in his opening remarks at the budget defence session of the Ministry of Solid Minerals Development.
The Federal Government, through the Ministry of Solid Minerals Development, will work with foremost consulting firm, PricewaterhouseCoopers (PwC), to execute the policies under the seven-point roadmap to transform the sector.
The President Bola Tinubu administration has reiterated its resolve to make solid minerals the most valuable resource that will surpass crude oil’s contribution to the nation’s Gross Domestic Product.
Minister of Solid Minerals Development, Dr. Dele Alake has said synergy with the Interior Ministry is crucial to the development of solid minerals in line with the Renewed Hope agenda of the President Bola Tinubu’s administration.
The Minister of Solid Minerals Development, Dr. Oladele Alake, has reaffirmed that the decision of the Federal Government to diversify from hydrocarbons to making the minerals sector a major contributor to Nigeria’s Gross Domestic Product is the country’s contribution to climate change.
The newly appointed Acting Chairman of the Federal Inland Revenue Service, Zachaeus Adedeji, has said the administration is counting on the growth of the solid minerals sector to boost the economy.
The Minister of Solid Minerals, Dele Alake, has said that the ministry will add at least 50% to the Nigerian economy, just as he said that the Ministry is poised to attract Foreign Direct Investment to the country.
The committee relied on the query of the Auditor General of the Federation of 2016 which is being considered by Senate Committee on Public Account chaired by Senator Mathew Urhogvide.
The Nigeria Extractive Industries Transparency Initiatives said the country earned N69.47 billion from the Solid Mineral sector in 2018.
The minister, represented by Prof. Okey Onyejekwu, his Senior Special Adviser, said the fund would be used for geosciences data generation, improve mines-field security and monitoring
He said solid minerals were vehicles to diversify the economy and boost the Gross Domestic Product.
He said: “We will deliver on the promises made by President Muhammadu Buhari to Nigeria to diversify the economy from crude oil to solid minerals
She said that the report also showed that Nigeria exported a total of 7.12 metric tones of solid minerals valued at N11.9 billion during the period under review
Sada said this in a message he sent to a workshop on Economic Diversification and Enhancement of Revenue Generation, taking place in Gombe, Gombe State