Economic Hardship Painful but Necessary for Sustainable Growth — Alake
The Minister of Solid Minerals Development, Dele Alake, has said that the economic hardship currently confronting Nigerians is painful, but necessary as the country undertakes reforms aimed at building a more resilient and sustainable economy.
Alake stated this in Abuja at the maiden edition of the Solid Minerals Excellence Awards, SOMEA, where he said Nigeria was undergoing a major economic transition designed to deliver long-term prosperity, stronger institutions, industrial expansion and national development.
According to him, the administration of President Bola Tinubu remains committed to implementing difficult but necessary reforms to tackle corruption, weak institutions, economic instability and the country’s longstanding dependence on oil revenue.
“Effective leadership must be driven by vision, knowledge and courage,” he said.
The minister argued that meaningful national progress requires policies anchored on long-term national interest rather than short-term political convenience. He added that President Tinubu was determined to reposition the economy by pursuing reforms that previous administrations had avoided because of political resistance.
Drawing parallels with the transformation of Lagos State, Alake noted that some reforms often face strong opposition at the beginning, but can eventually lead to stronger revenue mobilisation, better institutions and wider economic growth.
He said the solid minerals sector had been identified as a critical pillar of the Federal Government’s economic diversification agenda under the Renewed Hope programme.
According to him, the ministry has initiated wide-ranging reforms to address illegal mining, weak regulation, insecurity, dormant licences and poor transparency in the sector.
“The ministry has undertaken comprehensive reforms targeting illegal mining, weak regulatory structures, insecurity, dormant licences and lack of transparency in the sector,” he said.
Alake added that the digitisation of mining operations and licensing processes had improved transparency, simplified access to licences and encouraged greater investor participation.
He also said the government had strengthened enforcement across mining sites through the expansion of the Mining Marshals initiative, with more than 2,000 personnel deployed nationwide to combat illegal mining. The initiative, he said, had already led to arrests, prosecutions and improved compliance among operators.
The minister further stressed the importance of local value addition and domestic mineral processing, noting that these were essential to industrialisation, job creation and technology transfer.
Earlier, the Permanent Secretary of the Ministry of Solid Minerals Development, Yusuf Yabo, said the awards reflected the Federal Government’s commitment to positioning the mining industry as a globally competitive driver of economic growth.
Yabo said the ceremony also recognised partnerships, investments, innovation and transformation recorded in the sector under the current administration.
The President of SOMEA, Oladunmi Owo, described the initiative as a platform for celebrating contributions to reform, sustainability and responsible development in Nigeria’s mining industry.
Also speaking, Omar Sahinolu, Chief Executive Officer of D-Gold, emphasised the need for responsible mining practices, transparent governance and technological innovation across the sector.
Awards were later presented to individuals and organisations recognised for their contributions to Nigeria’s solid minerals industry.
The awards, themed “Unlocking the Future,” featured categories such as Leading Mining Company of the Year, Excellence in Sustainable and Safe Operations, and Outstanding Contribution to Sector Growth, among others.
BRANDECONOMY Insight
Nigeria’s Reform Pain Will Be Judged by Whether It Produces Real Economic Renewal
Dele Alake’s argument that Nigeria’s present hardship is painful but necessary captures the central defence of the Tinubu administration’s economic strategy: that difficult reforms today are the price of a stronger economy tomorrow. It is a politically risky position, especially at a time when households are under pressure from high living costs, weaker purchasing power and persistent uncertainty across key sectors.
Yet the ultimate test of reform is not the courage to announce it, but the capacity to convert sacrifice into measurable national gain.
For the solid minerals sector, that means moving decisively beyond policy speeches to sustained improvements in mining governance, investor confidence, security of operations, transparent licensing, local processing and industrial linkages. Nigeria’s mineral wealth will matter little if it remains trapped in illegal extraction, raw export dependence and weak regulatory enforcement.
The minister is right to position mining as a pillar of economic diversification. With global demand rising for critical minerals, industrial inputs and energy-transition materials, Nigeria has a genuine opportunity to build a more balanced economy less exposed to the volatility of crude oil. But that promise will only be realised if reforms produce bankable projects, credible data, responsible operators, enforceable standards and value chains that create Nigerian jobs.
The broader political lesson is equally important. Citizens are more likely to accept short-term pain when they can see a clear pathway to long-term relief. Government must therefore match reform rhetoric with visible evidence: lower leakages, stronger institutions, more productive investment, better infrastructure and industries capable of absorbing labour.
Economic hardship may sometimes accompany restructuring. But hardship alone is not reform. The legitimacy of today’s pain will depend on the prosperity, resilience and opportunity it eventually delivers.
