The Federal Government of Nigeria, in an attempt to foster development of the solid mineral sector, has introduced a new policy, mandating mining companies use their solid minerals to establish factories in the country rather than carting them away to process abroad.
This was disclosed by the Minister of Solid Minerals Development, Dele Alake, during a media briefing for the one-year anniversary of President Bola Tinubu’s administration.
Alake said that the ministry has revoked the mining licenses of no fewer than nine thousand dormant companies, thereby prohibiting the processing of Nigeria’s resources abroad.
The minister bragged that the President Tinubu’s administration was unrelenting towards turning the solid mineral industry into a major economic sector.