Economy: Better days are ahead for Nigerians, says Dele Alake

March 27, 2024


The minister of solid minerals development, Dele Alake, has said that despite the present economic reality, better days are ahead for the country and Nigerians.

He gave the assurance after an inspection of the $600 million iron ore mining and processing facility owned by African Natural Resources and Mines Limited (ANRML) in Gujeni, Kaduna state.

The minister commended the resilience, foresight, commitment and focus of the company which he likened to the present efforts of the President Bola Tinubu-led administration at restructuring the economy.

He however admonished all Nigerians not only to have faith in the administration but to be persistent, consistent, patient and focused as the restructuring efforts pass through the gestation period for the fruits of the efforts to manifest.

Assuring Nigerians, Alake said: “We have set our minds in this administration and invariably in Nigeria to achieve success and that is why Mr President is restructuring the economy. And like I said when this company (ANRML) started seven years ago, we saw one of the foundations through the video documentary, the amount of concrete that went to erect a foundation, just to carry a giant edifice. That’s what we are going through. When we get through the gestation period, the results will manifest, and it will herald prosperity.

“The restructuring of the economy of this country is really with its attendant pains but now we are going through the pains, it is the pain that is the precursor to joy at the end of the road. Just as this company went through the pains to erect this solid structure that we have here today smiling and we are rejoicing with it for being courageous enough to set its eyes on the ball and be focused enough to pursue it and we have the result today.”

The Minister then advised, “So, I recommend self-mentality and self-orientation to all of us to be persistent, consistent, patient and focused. When all the restructuring initiates of this government scale through their gestation period, the results will begin to manifest and the whole country will begin to enjoy. I can assure Nigerians that better days are coming.”

The minister then reiterated the administration’s resolve for value addition as the irreducible standard for mining operations in the country.

He warned that the government will no longer license any company that wants to engage in the country’s mineral sector without any concrete plans for local value addition.

He commended the company for aligning with the administration’s vision of value addition and beneficiation through its processing of iron ore, urging other mining companies to take a cue from it. He restated the position of the federal government to refrain from granting mining licenses to companies without requisite plans for value addition.

In her submission, the Minister of Industry, Trade and Investment, Dr. Doris Azoka-Aniete lauded the company for its giant stride in iron ore production and processing, stressing that the company will be part of the nation’s efforts to scale up local steel manufacturing and local manufacturing of automobiles through the Nigeria Automotive Industry Plan.