Nigeria's solid minerals worth over $750bn — Minister – Newstrends
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Nigeria’s solid minerals worth over $750bn — Minister

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Dele Alake, Nigerian minister of Solid Minerals

Nigeria’s solid minerals worth over $750bn — Minister

The Minister of Solid Minerals Development, Dele Alake, revealed a preliminary report by German firm GeoScan that estimates Nigeria’s solid minerals are worth $750 billion. He highlighted this during a summit organized by the National Institute for Policy and Strategic Studies (NIPSS) and Bruit Costaud, emphasizing the sector’s potential contribution to Nigeria’s goal of achieving a trillion-dollar economy.

Alake noted President Bola Ahmed Tinubu’s commitment to reforms in the mining sector to prevent Nigeria from merely being a mining pit for solid minerals. He stressed the importance of data availability to attract investors and stimulate job creation and economic growth through mineral processing plants.

“We are working with the World Bank, Excalibur and GeoScan, a German company, to get the necessary data on the sector. That is why the federal government signed a memorandum of understanding with Geoscan, and they did a preliminary survey of our minerals’ output and potential. They gave us a figure of $750bn worth of minerals embedded under the ground of Nigeria.”

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Collaborations with organizations like the World Bank, Excalibur, and GeoScan aim to gather essential data for the sector. The memorandum of understanding signed with GeoScan resulted in a preliminary survey revealing the substantial value of Nigeria’s mineral resources.

Nasarawa State Governor Abdullahi Sule highlighted the importance of investing in solid minerals, particularly citing the significance of lithium, which he likened to gold. He announced the impending commissioning of Nigeria’s largest lithium processing factory, expected to process 4,000 metric tons daily and transport over a million tons of lithium annually.

Ayo Omotaya, Director General of NIPSS, reiterated the summit’s purpose of charting a path forward for the mining sector, underscoring the necessity of strategic planning and collaboration to harness Nigeria’s mineral wealth.

Nigeria’s solid minerals worth over $750bn — Minister

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DSS gives updates on ‘manhood theft’ in Abuja

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President Bola Ahmed Tinubu

DSS gives updates on ‘manhood theft’ in Abuja

The Director of the department, Adamu Gwary, a Fellow of Defence College, stated this in an interview with the News Agency of Nigeria (NAN) in Abuja on Tuesday.

DSS gives updates on ‘manhood theft’ in Abuja

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Just in: FG proposes another new minimum wage, labour kicks again

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Just in: FG proposes another new minimum wage, labour kicks again

There is no end in sight yet on new minimum wage dispute between the Federal Government and the organised labour as no agreement was reached at a meeting held on Tuesday.

The labour on Tuesday rejected the N54,000 proposed by the government as new minimum wage.

This is N6,000 higher than the N48,000 proposed by the Federal Government last week, which labour leaders rejected outright.

Again, the organised labour comprising the Nigeria Labour Congress and the Trade Union Congress at the Tuesday meeting said no to the new proposed minimum wage of N54,000.

The labour last week said they would not accept N100,000 as the new minimum wage.

They however said they would not insist on N615,000, which was presented to the government for consideration.

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BREAKING: Court halts extension of Rivers LG chairmen’s tenure

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Simnalaye Fubara

BREAKING: Court halts extension of Rivers LG chairmen’s tenure

The Rivers State High Court sitting in Port Harcourt has declared the six-month tenure elongation of the state’s local government executive chairmen by the Martins Amaewhule-led House of Assembly as null and void, unconstitutional and of no effect.

The court further declared the Local Government Law No.2 of 2024, whose provisions extended the tenure of local government chairmen as invalid.

The court ruled that the law was inconsistent with the 1999 constitution and section 9 (1) of Rivers State Law No. 5 of 2018 which fixed three-year tenure for local government chairmen and councilors.

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The court gave the judgement in a case filed by Enyiada Cookey-Gam & 6 Ors vs. The Governor of Rivers State & Ors.

The presiding judge, Justice, D.G. Kio, in his judgement, declared that Local Government Law No. 2 of 2024, which extended the chairmen’s terms by six months was in conflict with the 1999 Constitution and Section 9(1) of Rivers State Local Government Law No. 5 of 2018.

The court affirmed that the lawful tenure for the chairmen and councilors remained three years, as stipulated by the 2018 law.

The judge stressed that any attempt to extend the tenure was unlawful and violated the officials’ oath of office.

BREAKING: Court halts extension of Rivers LG chairmen’s tenure

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