The Minister of Solid Minerals Development, Dele Alake, has pledged federal government support to mining companies that prioritise local content.
This assurance came during his site tour of Segilola Resources Operating Limited (SROL), an indigenous gold mining company in Ilesa, Osun State.
In a statement released by Segun Tomori, the Minister’s Special Assistant on Media, Alake commended SROL for its extensive use of local resources, noting that over 95% of its staff are Nigerians.
He urged other mining operators to emulate the company’s commitment to local content and adopt international best practices to develop the sector.
Alake applauded SROL’s application of local content in procurement and employment policies, praising the company’s perseverance and efficient methods despite initial challenges.
He emphasised his focus on redirecting attention to the mining sector and implementing a 7-point agenda to reposition it.
He noted, “This agenda includes improving security in mining environments, with the recent unveiling of a marshal system operating across all states.”
Alake stressed the importance of fostering harmonious relationships with host communities and commended SROL for exceeding its community development targets.
Segun Lawson, the Managing Director and CEO of SROL described the company as a world-class project run by Nigerians.
He appealed for further government support to enhance its contribution to the country’s economy.
“We operate an open-pit system involving drilling, blasting, and processing rocks into gold,” he informed the minister.
Recall that the minister recently revealed that Nigeria’s mineral resources are currently valued at over $700 billion.
Alake made the statement while speaking at an event on the sidelines of the United Nations General Assembly, with the theme: “From critical minerals to energy transition: Africa in the driver’s seat.”
He also said there is potential for further discoveries, demonstrating Nigeria’s readiness to meet the growing global demand for these essential resources.