Mining sector 50% contribution to GDP target is realisable, Alake insist

Dele Alake, the minister of solidinerals development has reiterated his commitment to ensure that the sector achieve its target of 50% percent contribution to the gross domestic product of the country.

Alake, who visited the Mining Cadastre Office (MCO) an agency of the Ministry on Wednesday, said the government is working to block leakages and loopholes impeding the collection of accruable revenues in the sector.

He noted that the decision to block all leakages and loopholes across agencies of the Ministry, review and enhance revenues is deemed imperative in view of government’s high expectation for revenue from the solid minerals sector.

This according to him, will facilitate implementation of programs that will lift the people out of poverty, generate employment opportunities and create wealth under the Renewed Hope Agenda of the present administration.

Read also: Mining sector can unlock economic opportunities for Nigeria — First bank

“we will take firm decisions in record time, block all leakages and loopholes to enhance revenue, reviewing of all fees paid by operators and businessmen with alacrity, that will cut across all the Agencies of the Ministry,” he said.

“The Ministry is posed to meet it’s target projection of making the solid Minerals sector achieve it’s target of 50% contribution to the gross domestic product of the country. The solid Minerals sector is the next oil.

”We will employ all legitimate means of sealing leakages.”

While commending the contribution of the Mining Cadastre Office in the overall achievements of the ministry, Alake admonished it’s staff not only to brace up in maintaining the success achieved, but strive to achieve and surpass Federal Government’s target.

Read also: Mining sector’s contribution to GDP remains low despite potentials – Minister

In his remarks, Simon Nkom, director general of the Mining Cadastre Office ( MCO), stressed on the need to upgrade it’s e-MCO+ to the new system for efficiency in administrative management of Cadastre applications.