Featured

Youth Ministry Meets with BPE On Sports Infrastructure Rehabilitation

Published

7 years ago

March 3, 2020

Joel Ajayi

The Minister of Youth and Sports Development Mr. Sunday Dare, in continuation of the process of rehabilitating the National Stadium Surelere, Lagos and the Moshood Abiola Stadium in Abuja, met with representatives of Bureau of Public Enterprises (BPE) on Tuesday in his office at the Federal Secretariat, Abuja.

The Minister who has been in touch with the BPE and other bodies to ensure private funding and commercialization of sports in the country which is an integral part of his administration, said they are at the point of documentation after several processes

“The BPE along with the ITRC are critical partners with whom we have been having conversations and now have reached the point where we are putting together documents so that we can have private funds for sports development.

“We have started the process because we witnessed certain changes sometime in November, there is a new commitment to look at it in a holistic manner such that we can use the National Stadium Surelere, Lagos and the Moshood Abiola Stadium, Abuja for full commercialization.”

The Minister stated that all was being done in line with global benchmarks and separable standards, following the global template and expressed hope that the project would be ready in 10-16 months.

In response, Mr. Alex Okoh who is the Director General of the Bureau of Public Enterprises expressed optimism in the success of the projects, adding that they had all elements in place to deliver in a timely manner with the political will coming from the Minister and the Nigerian Government.

Share on Facebook

Featured

Alake Inaugurates Nigeria-US Solid Minerals Committee, Dismisses $700bn Claim, Says No Assets Sold

Published

4 days ago

October 28, 2026

The Gleamer

Joel Ajayi

The Minister of Solid Minerals Development, Dr. Dele Alake, on Tuesday inaugurated the Nigeria-United States Committee on Strategic Cooperation in the Solid Minerals Sector in Abuja, dismissing reports that Nigeria sold $700 billion worth of solid minerals to the US.

The inauguration followed the strategic cooperation framework established between Nigeria and the United States during the 81st United Nations General Assembly in New York.

In a statement issued on Wednesday by the Head PRESS and Public Relations Department Mrs. Kania Maliki Andeyaba stated that, Alake in the Memorandum of Understanding, MoU, signed with the US is a government-to-government platform to facilitate business-to-business engagements between American investors and Nigerian local operators, not a sale of assets.

Harping on the importance of the solid minerals sector to President Bola Ahmed Tinubu’s economic diversification agenda, he noted that the administration was committed to reducing dependence on a mono-product economy through the sustainable development of Nigeria’s vast mineral resources.

According to him, the Nigeria–US partnership as a strategic initiative to attract investment, promote technology transfer, strengthen local mineral processing and create employment opportunities.

“There is no sale of any Nigerian asset. There’s nothing exchanging hands,” Alake declared.

“We created a platform to facilitate mingling of US investment ventures with Nigeria’s local operators. It is in the public domain. We signed it in public and published it in four or five national newspapers.”

The Minister said reports claiming the US was coming to take over Nigeria’s minerals and security architecture were untrue at best and products of riotous imagination at worst.

Explaining the policy thrust, Alake said Africa has historically held the short end of the stick in global economic transactions, and Nigeria is determined to change that model.

“We have the resources, the critical elements the world needs to transit to clean energy. So we are creating a new paradigm — you bring your capital, expertise and technology, to match with our natural resources and create a win-win situation . The investor gains, Nigeria gains.’’he said.

Nigeria, he stressed, had operated a mono-cultural economy dependent on oil, while solid minerals were exploited informally — with ores taken “from pit to port” without value addition.

Alake said government has now made local processing mandatory, refusing to grant mineral titles to investors without a clear pathway to processing in Nigeria.

He said the policy led to the springing up of processing factories, including the largest lithium processing plant in West Africa commissioned recently in Nasarawa by the Vice President, and informed the formation of the African Minerals Strategy Group.

Alake noted that investor confidence has returned due to macro-economic reforms by President Bola Tinubu that guarantee security of tenure and repatriation of profits.

He charged the committee to discharge its assignment responsibly, saying its work is strategic to achieving the President’s $1 trillion economy target.

To this end, he told the Committee to ensure effective coordination, identify investment opportunities and translate the framework into measurable outcomes capable of positioning Nigeria as a competitive player in the global solid minerals industry.

In his welcome address, Permanent Secretary of the Ministry, Engr. Faruk Yusuf Yabo, said the inauguration translates growing bilateral engagements into a structured framework for practical cooperation and investment mobilization

Economic Officer at the US Embassy, Jonathan Baas, said President Donald Trump has prioritized three areas for US embassies — energy, artificial intelligence/super intelligence, and critical minerals.

Baas said Washington’s direction is to work with partners to secure critical supply chains while ensuring partners capture value.

“We just signed a contract today on looking into building AI data centres in Nigeria at the Nigerian Economic Summit. That’s the direction Washington wants us to go,” he said.

In his vote of thanks, CEO/Managing Director of Nigeria Solid Minerals Company, NSMC said that the committee

is expected to coordinate implementation, facilitate investment and monitor progress towards achieving the objectives of the Nigeria–US cooperation framework.

The inauguration reinforces the Federal Government’s commitment to repositioning the solid minerals sector as a key driver of economic diversification, industrial development and national prosperity under President Tinubu’s Renewed Hope Agenda.

Share on Facebook