By Hosea Parah, Abuja

Solid Minerals Minister Dr. Oladele Alake has announced plans to establish a solid minerals corporation in Nigeria to attract local and foreign investment and promote the rapid development of the sector.

The minister recently visited the Australian Perth conference on mining to market Nigeria as a mining destination. He highlighted the government’s deliberate policies and plans to attract investors, including the establishment of the Nigerian Mining Corporation as a vehicle for joint ventures with multinationals.

The minister also emphasized the shift from hydrocarbons to renewable energy and the need to diversify Nigeria’s revenue sources.

He assured investors that the government would promote public-private partnerships and capacity building.

The minister stated that generating geophysical data would be a critical component of the roadmap and would be marketed globally.

The mining corporation aims to regulate and sanitize the sector, ensuring that Nigerians have a stake in mining ventures.

The government also intends to address illegal mining through the formation of cooperatives and the establishment of an inter-agency security force.