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Home»ECONOMY»Mining critical to Nigeria’s economic growth — Alake
ECONOMY

Mining critical to Nigeria’s economic growth — Alake

Abdoulaye KayBy Abdoulaye KayMay 29, 2026Updated:May 29, 2026No Comments3 Mins Read
Minister of Solid Minerals Development Dr Dele Alake
Minister of Solid Minerals Development Dr Dele Alake
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Nigeria’s Minister of Solid Minerals Development, Dele Alake, has said responsible and sustainable mining will play a major role in shaping the country’s economic future as efforts intensify to reduce dependence on oil revenue.

Alake made the remarks while endorsing the maiden edition of the Solid Minerals Excellence Awards (SOMEA 2026) held at the Abuja Continental Hotel.

Describing the awards as a strategic initiative aligned with Nigeria’s mining reform and economic diversification agenda, the minister said the solid minerals sector is becoming increasingly important to national development.

“Our past is a story already told. Our future shall be written in gold,” Alake declared.

He said the awards recognised individuals, institutions, and companies driving sustainability, innovation, and community development within the mining industry.

SOMEA 2026 was organised in collaboration with the Federal Ministry of Solid Minerals Development and celebrated operators, investors, cooperatives, and institutions contributing to the country’s non-oil economy.

Chairman of the SOMEA 2026 Jury, Olatunji Akinade, said award recipients emerged through an independent assessment process based on the Quadruple Helix Model involving industry, government, academia, and civil society.

“This structure ensured our deliberations balanced commercial realities, policy context, academic standards, and social impact,” Akinade said.

He urged award recipients to leverage the recognition to attract investment, deepen partnerships, and accelerate growth in the mining sector.

President of SOMEA, Oladunni Owo, said the mining industry had become central to the Federal Government’s economic diversification strategy under President Bola Tinubu.

“The Federal Government has made it clear that mining will be a pillar of Nigeria’s prosperity,” she said.

Owo noted that the awards emphasised environmental, social, and governance (ESG) principles, occupational safety, local content development, and community inclusion. She added that artisanal mining cooperatives and women operators were also recognised, underscoring the importance of labour safety and host community participation in sustainable mining development.

Among the award recipients:

  • Avatar New Energy Materials Co. Ltd won Mining and Processing Company of the Year for Lithium.
  • Mosra Energy received the Coal Mining Company of the Year award.
  • BUA Cement Plc won the Limestone/Cement category.
  • Segilola Resources Operating Ltd secured Gold Mining Company of the Year and Outstanding Gold Producer of the Year awards.
  • African Natural Resources and Mines Ltd won Most Innovative Mining Company of the Year and Outstanding Performer in Occupational Health and Safety.
  • Kian Smith Mine Ltd received the Gold Aggregating Company of the Year Award for Artisanal and Small-Scale Mining.
  • Nere Emiko emerged ASM Outstanding Woman of the Year.
  • Huwa received the Lifetime Achievement Award.

The event also honoured institutions supporting regulation and sector development, including the Solid Minerals Development Fund, Mining Cadastre Office, Nigerian Institute of Mining and Geo-sciences, and Nigerian Geological Survey Agency.

Industry stakeholders said discussions at SOMEA 2026 would further shape investment, regulation, and community engagement in the mining sector, while strengthening confidence in Nigeria’s economic diversification drive through solid minerals development.

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