Minister of Solid Minerals Development, Dele Alake, has said the current economic hardship facing Nigerians is painful but necessary for the country’s long-term growth and stability.
Alake made the remarks during the maiden edition of the Solid Minerals Excellence Awards held in Abuja.
According to the minister, Nigeria is undergoing a major economic transformation aimed at achieving sustainable prosperity, industrial growth and national development through bold reforms and strategic leadership.
He said the administration of President Bola Tinubu remains committed to implementing difficult reforms needed to tackle corruption, weak institutions, economic instability and overdependence on oil revenue.
“Effective leadership must be driven by vision, knowledge and courage,” Alake said.
He noted that meaningful national development can only be achieved through policies focused on long-term national interest rather than short-term political gains.
The minister added that President Tinubu was determined to reposition the economy through reforms that previous administrations had avoided because of political resistance.
Drawing comparisons with the transformation of Lagos State, Alake said reforms that initially faced opposition later resulted in stronger institutions, improved revenue generation and economic expansion.
He further stated that the mining sector has been identified as a key component of the administration’s economic diversification agenda under the Renewed Hope programme.
According to him, the ministry has already introduced reforms targeting illegal mining, insecurity, weak regulatory structures, dormant licences and lack of transparency in the sector.