Minister of Solid Minerals Development, Dele Alake, on Sunday, charged the authorities of Obafemi Awolowo University (OAU) to leverage its mineral and intellectual resources to develop a world-class centre of mining excellence that bridges the gap between theory, extraction and mineral processing.

Dele Alake disclosed this in Abuja, when he received a high-powered delegation of the university’s Governing Council, led by its Chairman, Prof. Ralph Akinfeleye.

He said the commercial value of the minerals available on the university’s land could significantly reduce its dependence on government subvention and contribute to the institution’s revenue base.

Other members of the delegation included Ambassador Edward Sarki, Barr. Joseph Abaagu, Prof. Olatunbosun Adedayo and Barr. Yinka Ayanfola.

The Minister encouraged the University to explore private-sector partnerships to unlock the commercial potential of its mineral assets, noting that its technical expertise gives it a significant advantage in attracting investors.

Alake said: “You have the resource endowment underground, and you have the intellectual capacity. You can bring in investors through a joint venture, and they can provide the capital and machinery. At the same time, the University earns revenue and your experts participate as consultants and technical partners.”

The Minister also explained that the Federal Government had restructured the development of Nigeria’s bitumen resources by opening designated bitumen blocks to competitive bidding by qualified investors.

He stressed that ownership of land does not automatically confer ownership of the mineral resources beneath it, which are vested in the Federal Government under the Constitution and relevant mining laws.

Alake commended OAU for its longstanding contribution to the training of geologists and other professionals in Nigeria’s mining industry, urging the institution to deepen its role in mineral exploration, research, innovation and commercialisation.

He added, “The University owns the land, but where there are mineral resources, their exploration and exploitation must still be undertaken in accordance with the law. We must find a win-win situation that protects legitimate interests while upholding the Federal Government’s regulatory responsibility.

“The gap between intellectualism and application must be closed. Universities should not only generate knowledge; they should translate that knowledge into solutions, enterprises and economic value for society.”

In a statement by his Special Assistant on Media, Lara Owoeye-Wise, the minister reaffirmed the ministry’s commitment to creating a transparent, predictable and investment-friendly regulatory environment that promotes responsible mining, value addition and sustainable economic benefits for Nigerians.