• About Us
  • Contact Us
  • Privacy & Policy
Saturday, June 14, 2025
Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history
Advertisement
  • National
  • Politics
  • Economy
  • Entertainment
  • Sports
  • Editorial
  • Opinion
  • Columns
No Result
View All Result
  • National
  • Politics
  • Economy
  • Entertainment
  • Sports
  • Editorial
  • Opinion
  • Columns
No Result
View All Result
Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history
No Result
View All Result

FG’s Minister: No more oil dependence, “We are going to recover trillions…”

Vincent Amadi by Vincent Amadi
June 3, 2024
in Economy, News
Reading Time: 2 mins read
A A
0
FG’s Minister: No more oil dependence, “We are going to recover trillions…”
Share on FacebookShare on TwitterShare on WhatsappShare on EmailShare on Telegram


By: Amadi Vincent Uzoma

The Minister of Solid Minerals Development, Dele Alake, says the ministry is determined to guarantee the sector’s commitment to the net domestic product (GDP) outperforms that of oil.
In an interview on Sunday, he said President Bola Tinubu’s administration was putting policies and activities in put to broaden the economy and ensure that it creates more income than oil in the near future.
“Our objective is to make solid minerals’ contribution to the GDP surpass oil,” said Mr Alake, who decried the country’s long dependence on oil and neglect of other critical sectors.
Mr Alake said the move was fundamental, particularly given the global upsurge in energy transition, which would diminish the request for oil.


“By the time all our policy initiatives go through the gestation period and begin to manifest results, the revenue accruing to Nigeria from this sector would be enormous.
“We are going to recover trillions to the coffers of the Nigerian government and for the benefit of Nigerians at large,” he said.
He said Nigeria has the basic minerals in commercial amounts over its states required for vitality move, which the service was forcefully showcasing to pull in enormous players to contribute within the division.
According to him, negotiations with an auditing firm are continuous to review the segment, pointing at sanitizing it and guaranteeing suitable collections to boost the country’s GDP.
“We know that operators will under-declare what they are carting away, even the payment of royalties, which they underpay, and taxes they evade.


“So we are in the process of engaging an internationally recognized auditing firm that has done the same thing in other parts of the world in more than 20 countries.
“We are going to recover trillions to the coffers of the Nigerian government and for the benefit of Nigerians at large,” he said.
The minister said a German company, Geo Scan, conducted a preliminary overview demonstrating that Nigeria has $750 billion worth of underground strong minerals that have however to be saddled.

Tags: businessnigeria
Vincent Amadi

Vincent Amadi

Related Posts

Nigeria Stock Exchange to Partner with Hong Kong’s Stock market
Economy

Nigeria Stock Exchange to Partner with Hong Kong’s Stock market

3 days ago
Famous “Gwo Gwo Gwo ngwo” singer, Mike Ejeagha, dies at 95
Entertainment

Famous “Gwo Gwo Gwo ngwo” singer, Mike Ejeagha, dies at 95

7 days ago
Pastor Paul Adefarasin points gun at content creator from Range Rover
National

Pastor Paul Adefarasin points gun at content creator from Range Rover

7 days ago
Dangote refinery is Tinubu’s brainchild – Aliko
Economy

Dangote refinery is Tinubu’s brainchild – Aliko

1 week ago

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

NATIONS NEWS

Airline operators slam Oshiomhole, as Keyamo orders a probe.
National

Airline operators slam Oshiomhole, as Keyamo orders a probe.

16 hours ago
Peter Obi Accuses Tinubu Of Hypocrisy, Misplaced Priorities
National

Peter Obi Accuses Tinubu Of Hypocrisy, Misplaced Priorities

16 hours ago
Trent Alexander-Arnold unveiled for Real Madrid
National

Trent Alexander-Arnold unveiled for Real Madrid

16 hours ago
I never stopped INEC in registering new political party – Tinubu
National

I never stopped INEC in registering new political party – Tinubu

21 hours ago
I’m glad PDP, LP, NNPP are in crisis – Tinubu
National

I’m glad PDP, LP, NNPP are in crisis – Tinubu

21 hours ago
Despite incessant killings in Benue, pro-Tinubu and Alia supporters stage rally
National

Despite incessant killings in Benue, pro-Tinubu and Alia supporters stage rally

21 hours ago

POLITICS

Saraki Replies To Tinubu’s Mockery Of Opposition, Says They Will Sort Themselves Out.

Saraki Replies To Tinubu’s Mockery Of Opposition, Says They Will Sort Themselves Out.

16 hours ago
Peter Obi Accuses Tinubu Of Hypocrisy, Misplaced Priorities

Peter Obi Accuses Tinubu Of Hypocrisy, Misplaced Priorities

16 hours ago
I’m glad PDP, LP, NNPP are in crisis – Tinubu

I’m glad PDP, LP, NNPP are in crisis – Tinubu

21 hours ago
Democracy Day: It Is Indeed A Pleasure To Witness You In Such A Disarray – Tinubu to Opposition Parties

Democracy Day: It Is Indeed A Pleasure To Witness You In Such A Disarray – Tinubu to Opposition Parties

2 days ago
APC will gladly welcome Wike, says Tinubu

APC will gladly welcome Wike, says Tinubu

2 days ago
The coalition has failed` Wike mocks opposition parties

The coalition has failed` Wike mocks opposition parties

2 days ago

YOUR ECONOMY

Nigeria Stock Exchange to Partner with Hong Kong’s Stock market
Economy

Nigeria Stock Exchange to Partner with Hong Kong’s Stock market

3 days ago
Dangote refinery is Tinubu’s brainchild – Aliko
Economy

Dangote refinery is Tinubu’s brainchild – Aliko

1 week ago
FG will revive cocoa industry – Shettima
Economy

FG will revive cocoa industry – Shettima

2 weeks ago
Nigerian companys take priority over foreign businesses with “Nigeria First Policy” 
Economy

Tinubu seeks $25 billion Nigeria-Morocco gas pipeline investment

2 weeks ago
Development bank disbursed N1 trillion to MSMEs – MD
Economy

Development bank disbursed N1 trillion to MSMEs – MD

2 weeks ago
Becoming AfDB president greatest honour of my life – Adesina
Economy

Becoming AfDB president greatest honour of my life – Adesina

3 weeks ago

E & P

Trent Alexander-Arnold unveiled for Real Madrid
National

Trent Alexander-Arnold unveiled for Real Madrid

by Steven Atogi
16 hours ago
0

England international, and Former Liverpool left back, Trent Alexander-Arnold has officially joined La Liga giant, Real Madrid, as a free...

Matheus Cunha joins Man United from Wolves

Matheus Cunha joins Man United from Wolves

2 days ago
Friendlies: Senegal’s Lions of Teranga beat England’s Three Lions 3-1

Friendlies: Senegal’s Lions of Teranga beat England’s Three Lions 3-1

3 days ago
Nuno Mendes shines at Nations League final

Nuno Mendes shines at Nations League final

5 days ago
Portugal beats Spain in Nations League final

Portugal beats Spain in Nations League final

5 days ago
France beat Germany to third place at Nations League

France beat Germany to third place at Nations League

6 days ago

YOUR THOUGHT & HISTORY

ON THE PUBLIC NUISANCE CALLED SOWORE
Opinion

ON THE PUBLIC NUISANCE CALLED SOWORE

by Kiikpoye Karibo
4 months ago
Data Visualizations
Columns

Five Key Considerations for Creating Effective Data Visualizations

by Blessing Chinyere Daniel
5 months ago
The Transformative Power of AI in Revolutionizing Industries and Empowering Growth
Columns

The Transformative Power of AI in Revolutionizing Industries and Empowering Growth

by Blessing Chinyere Daniel
6 months ago
Navigating the Turbulent Terrain of Entrepreneurship: The Power of Tenacity, Growth Mind-set, and Grit
Columns

Navigating the Turbulent Terrain of Entrepreneurship: The Power of Tenacity, Growth Mind-set, and Grit

by Uloma Harrison-Ikenwanze
6 months ago
The Power of Data in Today’s World
Columns

The Power of Data in Today’s World

by Blessing Chinyere Daniel
6 months ago

Who we are

Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history

Welcome to Umpire News, your go-to online newspaper dedicated to broadening perspectives and expanding the horizons of our numerous readers. Read more

Browse by Category

  • Columns
  • Economy
  • Editorial
  • Entertainment
  • International
  • National
  • News
  • Opinion
  • Politics
  • Sports
  • Trends

Recent News

Airline operators slam Oshiomhole, as Keyamo orders a probe.

Airline operators slam Oshiomhole, as Keyamo orders a probe.

June 13, 2025
Saraki Replies To Tinubu’s Mockery Of Opposition, Says They Will Sort Themselves Out.

Saraki Replies To Tinubu’s Mockery Of Opposition, Says They Will Sort Themselves Out.

June 13, 2025
  • About Us
  • Contact Us
  • Privacy & Policy

© 2024 Copyright Umpirenews. All rights reserved

No Result
View All Result
  • Home
  • National
  • Economy
  • Politics
  • Sports
  • Entertainment
  • Editorial
  • Opinion
  • Columns

© 2024 Copyright Umpirenews. All rights reserved

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
🤑Join & Get Our Easter Gifts 🤑

Enter your NAME & Email NOW!!

Be among the 1st 100 lucky WINNERS to win our Amazing GIFTs this Easter Period as you READ our Daily hot NEWs & make meaningful comments and follow us on our social media handles.

Name
Enter your email address