The FIRS chairman expressed optimism about the Solid Minerals Ministry..

    Mr. Zachaeus Adedeji, the Acting Chairman of the Federal Inland Revenue Service (FIRS), has expressed confidence in the solid minerals sector’s potential to strengthen the nation’s economy. During a recent meeting with the Minister of Solid Minerals, Mr. Dele Alake, Adedeji highlighted the sector’s ability to rescue the country from its heavy reliance on the declining oil and gas industry.


    Emphasizing that the solid minerals sector could substantially contribute to Nigeria’s revenue with its highest taxable limit of 18 percent of the Gross Domestic Product (GDP), Adedeji pointed out the need for diversification as the current oil and gas sector accounts for a significant 78 percent of taxable income.

    Adedeji stated, “This is our next oil, and that is why we are here. If we get it right in this sector, it means the future of Nigeria is secured. We are confident in having Dr. Oladele Alake as the minister of solid minerals because half of our job is secured.”

    In response, Alake reaffirmed Nigeria’s commitment to achieving economic growth and prosperity. He outlined the administration’s initiatives, policies, and programs aimed at revamping the economy in alignment with President Bola Ahmed Tinubu’s Renewed Hope agenda.

    The minister stressed the importance of precise data collection, stating, “We will invest heavily in data generation—concise and precise data generation that will empower and enable investors to make informed decisions. This commitment forms a crucial part of the renewed strategy to tap into the $700 billion value of minerals beneath Nigeria’s soil.”

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