S’West leaders push reforms in mining, pension, infrastructure

• As Alake renders stewardship

From Ismail Omipidan, Akure

As part of efforts to diversify the economy, South-West leaders have recommitted to accelerating reforms in mining, pension, infrastructure and health, so as to ensure sustainable development across the six states of the region.

This is even as the minister of Solid Minerals Development, Dr. Dele Alake, revealed that the mining sector reforms introduced by the President Bola Tinubu-led administration has so far generated N30 billion in revenue between January and September 2025, adding that South West alone contributed over N7.2 billion.

They made these known yesterday, at the Day two of the South West Stakeholders’ Dialogue, in Akure, the Ondo State capital.

Dr. Alake explained that the establishment of the Mining Marshals, had led to the arrest of 300 illegal miners, the prosecution of over 150 suspects and that they have secured 20 convictions.

He also announced that ₦2.5 billion had been allocated to the Mine Satellite Monitoring Project to track mineral licences, coordinate and truck movements nationwide in order to curb illegal operations, adding that the reforms had attracted over $1.3 billion in foreign investment, including Africa’s largest lithium processing plant set to begin operations soonest.

While highlighting the success of the Segilola Gold Mining Project in Osun State, which had generated $193 million in 2024 and currently employs over 2,000 workers, Dr. Alake urged the leaders not to relent in their efforts at developing the region.

On his part, the Director-General of the National Pension Commission (PenCom), Mr Opeyemi Agbaje, said Nigeria’s pension fund had grown to N26 trillion, noting that part of the fund would be channelled into agriculture, infrastructure and private equity to drive national development.

He stated that President Tinubu’s commitment to pension reform had been unparalleled since the return of democracy, adding that pension funds would now be directed towards long-term national projects to stimulate growth and job creation.

Agbaje also announced that a new compliance monitoring system would soon be introduced across the six South-West states to ensure transparency and urged governors to align with pension guidelines to benefit from future investments in infrastructure and agriculture. He said that “the expansion of the contributory pension scheme into the informal sector is designed to provide financial protection for millions of Nigerians, who were previously excluded from retirement plans.”