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UNGA 2023 : Nigeria’s minerals deposit is worth $700billion,”We are ready to play an important role,” Says Alake

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The Minister of Solid Minerals Development, Dele Alake, said Nigeria’s minerals deposit is worth $ 700 billion, saying the nation’s mineral resources make it one of the top 10 players in the energy sector.
Alake said this at a special session on the sidelines of the ongoing United Nations General Assembly (UNGA) in New York, where he added that Nigeria is ready to play an important role in meeting the global demand for critical minerals.

The minister spoke on the topic: “From critical minerals to energy transition: Africa in the driver’s seat” at the event organised by the Corporate Council of Africa.

The deputy director of information, Ministry of Solid Minerals, Alaba Balogun, made this known in a press release.

Balogun added: “Alake who was speaking at a special session on the sidelines of the ongoing United Nations General Assembly in New York, said the nation’s mineral resources make it one of the top 10 players in the energy sector.

“He said despite being behind other African countries in mining, Nigeria’s mineral deposit is valued at over $700bn with very huge potential to increase. Speaking broadly of the continent, Alake said Africa is fit for the driver’s seat of the global energy transition that will be driven by critical minerals.”

He said: “Nigeria has always occupied a special position in global energy discourse. Nigeria played a vital role as a key oil exporter during the era of hydrocarbon and became a top 10 exporter of oil. As the face of global energy changes, Nigeria once again emerges as a key supplier of gas which we know is an important energy transition fuel today. Last year in the midst of the Russia-Ukraine crisis, Nigeria was one of the top exporters of LNG to Europe and was the 6th largest LNG global exporter in 2022. As you can see, there is a clear trend, whenever Nigeria is active in the global energy space, it emerges as a top 10 global player and it will be no different with critical minerals.

“Nigeria is endowed with a vast deposit of minerals critical to our new world. In our new world mobility requires a new form of energy driven by minerals in our new electric vehicle world; technology is more mineral-dependent; our energy source will depend more on the energy converted from the sun and other sources; and energy storage is even more mineral-reliable.

“This trend does not have any reversal in sight and demand will only continue particularly as the world seeks and envisions a lower carbon future where environment, social, and governance (ESG) factors are prioritized in governance and investment decisions. Therefore, minerals are at the forefront.

“He also traced the transition from different sources of energy to the now prominent renewable sources of energy. The shift from fossil-based energy systems to renewable energy such as wind and solar has meant that minerals that were not a part of general and public parlance have become a part of everyday speech. Today, lithium for example is woven through everyday conversations, and this is only just the beginning.

“Without a doubt, minerals are a major focus of our world today, and rightly so. Nigeria is well-positioned to play an important role in our new world. Our Solid mineral sector is valued at over USD$700bn and we know there is more to be discovered. Endowed with critical minerals, Nigeria should not and dare I say, cannot be ignored.

“We may not have a strong historic mining history like some of our neighbours such as Ghana, Mali and those in the South such as South Africa, Botswana, etc. but things are about to change.”

According to him, Lithium pegmatite rocks are available in Nigeria across states such as Nasarawa, Kwara, Oyo, Abuja, Kebbi, and much more and Graphite is found in states such as Kaduna.

One of the key objectives of President Bola Tinubu’s administration according to Alake is to develop the entire value chain in-country – in the case of lithium, saying “We want to go from Ore to concentrate to lithium hydroxide to end product.”

He also listed states with rare Earth elements critical for wind turbines and EV motors as Nasarawa and Plateau.

He added: “Platinum group minerals can be seen in the middle belt such as Benue and other regions. We have nickel in Kaduna and other locations. Zinc which is vital to offshore and onshore wind power generation has been a mainstay in Nigeria and is available in Ebonyi, Nasarawa, Plateau and many other Nigerian states.

“He further added that the nation was ready for foreign investment in the solid mineral sector, with President Bola Tinubu giving it prominence.

“It is clear that Nigeria is important to the world and we are ready for investment, collaboration, and partnerships in our solid mineral sector. Our new president, President Bola Ahmed Tinubu has made the solid mineral development sector vital in his administration and we are committed to making it a key contributor to our national GDP. A lot of work has been done in the sector under former administrations and we plan to take it further. Nigeria is prime to becoming a mining destination on the continent and it will happen in our time.”

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JUST IN: First Lady Secures N30.5bn Support from Dangote, NNPC, Governors for Food Bank

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…Private sector, states rally behind national fight against hunger
…Programme targets vulnerable households, children under six
By Bolaji Ogundele, Abuja
Nigeria’s private sector leaders and state governments on Thursday pledged over N30.5 billion in support of the National Community Food Bank Programme, a flagship initiative championed by the First Lady, Senator Oluremi Tinubu, to combat hunger and food insecurity across the country.

The pledges were announced at the official launch of the programme and inauguration of its Board of Trustees, drawing commitments from major corporate organisations, philanthropic foundations, and subnational governments.

Leading the pack, the Aliko Dangote Foundation, represented by its Managing Director and CEO, Zouera Youssoufou, on behalf of Africa’s richest man, Alhaji Aliko Dangote, committed N20 billion in-kind support over five years.

“It is an honour to stand here today on behalf of the organised private sector. This programme directly addresses food insecurity among vulnerable households, particularly children under six.

“Aliko Dangote Foundation will commit N20 billion in-kind support over the next five years on the provision of fortified and nutritious food products”, Youssoufou said.

She urged broader corporate participation, saying, “I would like to call on the entire organised private sector to actively support this programme,” adding that its success would deliver “a Nigeria where no child goes to bed hungry,” in line with “President Bola Ahmed Tinubu’s Renewed Hope Agenda.”

The Nigerian National Petroleum Company (NNPC) Limited also pledged N10 billion over five years, with Sofia Mbakwe representing the Group Executive Officer, Bayo Ojulari.

“This ceremony stands as a powerful testament of purposeful leadership by Her Excellency Senator Oluremi Tinubu,” Mbakwe said.

Highlighting the programme’s framework in partnership with the Bank of Agriculture, she added, “NNPC Limited is committing a starting sum of N10 billion to be disbursed over the five-year period.”

She assured that the company would “leverage our strategic partners and stands ready to work with you to ensure that this program delivers lasting and measurable impact.”

Also lending support, the Sir Emeka Offor Foundation pledged N500 million, announced by its representative, Chidioke James.

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“Today is not just about launching a fund. It is about launching hope. No society can truly prosper while hunger persists.

“We are very proud to stand with the mother of the nation, the First Lady. The founder has asked that I announce the commitment of 500 million.”

At the grassroots level, the Association of Local Governments of Nigeria (ALGON) pledged full institutional support for the programme, describing it as timely and critical.

Represented by Hamisu Mohammed, ALGON said local governments, as “custodian of the community and the masses,” view the initiative as “a signature legacy project.”

“This initiative comes at a critical time for food insecurity and rising cost of living. Local government fully appreciates grassroots-driven solutions,” he said, pledging “cooperation and partnership particularly in rural and underserved communities.”

Similarly, the Chairman of the Nigeria Governors’ Forum (NGF) and Governor of Kwara State, Abdulrahman AbdulRazaq, assured that state governments would provide substantial counterpart funding.

“Across our states, we see the pressure many households face in accessing affordable and nutritious food. More than one third of the children under five are stunted. This points to chronic undernutrition with lasting consequences for fiscal growth and development. This is not only a health issue, it’s a national issue,” he said.

He praised the First Lady’s “personal commitment” to tackling hunger and aligned the initiative with ongoing state-level nutrition interventions.

“The NGF stands ready to work closely with the federal government… I’ll confer with my colleague… we’ll present a counterpart fund that will closely align to what the Federal Government is donating,” he added, referencing the Federal Ministry of Health’s N17 billion pledge.

 

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BREAKING: Court Puts Off El-Rufai’s Bail Hearing, Sets New Date

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The Federal High Court in Kaduna on Tuesday adjourned the hearing of the bail application filed by former Kaduna State Governor, Nasir El-Rufai, till Wednesday.

The adjournment followed proceedings that took place under tight security, reflecting heightened public interest in the high-profile corruption trial.

Counsel for the ex-governor, Ukpong Akpan, confirmed the development shortly after the session but declined to give details.

“I’m sorry, I can’t talk now, we are in the middle of work. I have to go and file responses. The hearing of the bail application has been adjourned till tomorrow,” he said.

Shortly after the court rose, El-Rufai was escorted out of the premises by operatives of the Independent Corrupt Practices and Other Related Offences Commission in a white Hilux vehicle.

Earlier, the former governor had returned to court amid heavy security for the continuation of proceedings on his bail request.

The security arrangement mirrored the situation during his arraignment last week when he was first docked before the court.

El-Rufai is standing trial before Justice Rilwan M. Aikawa on a 10-count charge bordering on alleged conversion and possession of public property as well as money laundering.

He was brought to court after spending over a month in detention, a development that has continued to draw widespread attention across the country.

The court had earlier fixed March 31, 2026, for the hearing of all pending applications, including the bail request.

However, the anti-graft agency had on March 27, 2026, released him on compassionate grounds following the death of his mother, Hajiya Ummar El-Rufai, in Cairo, Egypt.

In a related development, the former governor was earlier on Tuesday arraigned before a Kaduna State High Court sitting in Kawo on separate charges.

At the State High Court, he was docked alongside one Amadu Sule on allegations ranging from abuse of office and fraud to intent to commit fraud and conferring undue advantage.

The charges, also filed by the anti-corruption commission, are separate from those before the Federal High Court.

After the proceedings at the State High Court, the commission moved El-Rufai to the Federal High Court within the same premises for continuation of proceedings.

With the adjournment, the hearing of the bail application is expected to resume on Wednesday.

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Araraume Felicitates President Tinubu on his birthday. Hails his Reform Agenda and National Milestones

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Senator Ifeanyi Araraume has congratulated President Bola Ahmed Tinubu on the occasion of his birthday, praising the President’s leadership style and the series of reforms that have shaped the direction of the country since he assumed office.

In a statement issued on Saturday, Araraume described President Tinubu as “a courageous reformer whose decisions continue to redefine Nigeria’s economic and governance landscape.” He noted that the President’s first year in office has been marked by bold policy choices aimed at stabilizing the economy and laying the groundwork for long term national development.

Araraume highlighted the removal of the petrol subsidy as one of the most significant economic decisions in recent decades, saying it demonstrated the President’s willingness to confront long‑standing structural challenges. According to him, the policy, though demanding, has redirected national resources toward infrastructure, social investment, and other critical sectors.

He also commended the administration’s unification of the foreign exchange market, describing it as a major step toward restoring investor confidence and strengthening Nigeria’s global competitiveness. The senator noted that the reforms have attracted renewed interest from international partners and signaled a commitment to transparent economic management.

Beyond economic restructuring, Araraume pointed to ongoing infrastructure expansion as evidence of the administration’s focus on national development. He cited the acceleration of key road projects, renewed efforts to expand rail connectivity, and the push to improve power generation and distribution as initiatives that reflect the President’s long term vision for a more productive Nigeria.

The senator further acknowledged the government’s interventions in agriculture, including support for mechanization and targeted programs aimed at boosting food security. He said these efforts are essential to reducing dependence on imports and strengthening local production.

On the diplomatic front, Araraume praised President Tinubu’s engagements across Africa and beyond, noting his role in strengthening regional cooperation within ECOWAS and advancing Nigeria’s interests on the global stage.

“As we celebrate this milestone, it is important to recognize the resilience and determination with which President Tinubu has approached the task of nation building,” Araraume said. “His commitment to reforms, economic stability, and democratic governance continues to inspire confidence in Nigeria’s future.”

He wished the President good health, renewed strength, and continued wisdom as he leads the country through what he described as “a defining period in Nigeria’s history.”

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