The Minister of Solid Minerals Development, Dr. Dele Alake, has reaffirmed the Federal Government’s commitment to ending all financial leakages in Nigeria’s gold value chain, describing the sector as a key pillar of national economic growth.
Speaking during the Nigeria Gold Day Celebration at the 10th edition of the Nigeria Mining Week in Abuja, Alake said the government is deploying digital tools and transparent systems to curb corruption and ensure full accountability in the gold trade.
According to the minister, the new digital mechanisms will drastically limit human interference in transactions, which has been one of the major causes of revenue losses and illegal practices within the sector. He added that by blocking these leakages, Nigeria could soon become a trusted name in the global gold market and strengthen its position as a hub for sustainable mineral development in Africa.
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Dr. Alake also spotlighted the National Gold Purchase Programme (NGPP), which is being implemented through the Solid Minerals Development Fund. The initiative allows the Federal Government to buy gold directly from artisanal miners using the naira, a move aimed at boosting the country’s foreign reserves and stabilising the national currency.
He noted that the NGPP forms a vital part of the Presidential Artisanal Gold Mining Initiative, designed to empower local miners, promote transparency, and ensure that the economic benefits of gold production remain within Nigeria.
Alake said the government’s goal is to create a fully regulated gold ecosystem where every gram mined contributes to national development, job creation, and foreign exchange stability.
