The Ministry of Solid Minerals Development is partnering with the global Extractive Industries Transparency Initiative (EITI) to drive reforms in the sector. Its minister, Dr Dele Alake has said.
Alake disclosed this while receiving a delegation of EITI led by Dr Ogbonnaya Orji, the Executive Secretary, Nigeria Extractive Industries Transparency Initiative (NEITI), said on Wednesday in Abuja.
Alake expressed Federal Government’s commitment to work with EITI and NEITI in advancing economic driven strides in the solid minerals sector.
He said that government was determined to reposition the solid minerals sector to boost Nigeria’s revenue profile, while also creating job opportunities for the teeming unemployed youths.
“The new administration is determined to reform the mining sector to overtake oil and gas in revenue generation, investment interests and as an alternative domestic resource mobilisation base, job creation and poverty reduction options,” he said.
He said the ministry’s improved operations and drive for reforms was premised on its robust engagements with NEITI since 2011.
He stressed the importance of reliable information and data, good governance, transparency and accountability needed in driving the sector which EITI advocated for globally.
According to him, the principles are being applied in the plans and policies of President Bola Tinubu to reform the mining sector.
“Working with NEITI over the years has been quite impactful in the areas of revenue generation and in driving evidence – based reforms.
“ NEITI, therefore, remains one of our dependable allies and partners in data generation, data analysis and utilisation as a key tool in national planning and development,” he said.
He assured the delegation of looking into the recommendations of NEITI in its 2021 report, and the line of actions needed for its implementation, aimed at strengthening its operations.
” I can assure you efforts are ongoing to fast track the report, work on the weaknesses to strengthen our operations, stimulate growth and regulations of the sector,” he said.
He said the ranking of Nigeria at 72 per cent (moderate) in EITI assessment covering 2019 to 2022, was an indication that the reports are credible and globally acknowledged to be comprehensive.
” But more importantly, that the data and information by NEITI fits into the Federal Government economic agenda and aligns with our national priorities,” he said.
The delegation also commended government on its efforts to operate a transparent and accountable system, through establishing the electronic cadastre system.
Speaking, NEITI’s executive secretary said the visit was to interface with the minister on areas of support that would strengthen its operations and that of its agencies.