Lawmakers reject ₦9bn Solid Minerals Budget

The Joint Committee of the Senate and House on Solid Minerals has rejected the proposed 9 billion naira budget for the Ministry of Solid Minerals Development, calling it insufficient to support Nigeria’s economic diversification efforts.

At a joint session in Abuja, Senator Ekong Sampson, Chairman of the Senate Committee on Solid Minerals, expressed the committee’s dissatisfaction, stating that the allocation could not sustain the ministry’s ambitious roadmap. He emphasized the need for a substantial budgetary increase to unlock the sector’s potential and warned against underfunding.

“Without significant investment in exploration, data gathering, and infrastructure, the solid minerals sector cannot achieve its strategic objectives,” Senator Sampson remarked.

House Committee Chairman Jonathan Gaza Gbefwi echoed these concerns, highlighting the global shift towards renewable energy and Nigeria’s risk of being left behind. “Solid minerals are pivotal to economic diversification, but the current allocation fails to reflect the urgency of this moment,” he said.

Senator Diket Plang of Plateau Central raised concerns about possible errors in the budget, suggesting that an allocation listed as ₦9 billion might have been intended as ₦900 billion. Meanwhile, Senator Natasha Akpoti of Kogi Central stressed the global importance of minerals like lithium and nickel in driving technological advancements and urged accountability in managing resources.

Minister of Solid Minerals Development, Dr. Dele Alake, supported the call for increased funding, stating that the current ₦500 billion budget proposal was only a starting point. “Bold investments are essential to capitalize on Nigeria’s vast mineral wealth,” he asserted.

The joint committee resolved to engage stakeholders and push for adequate funding to transform the solid minerals sector, attract investments, create jobs, and reduce Nigeria’s dependence on oil. Lawmakers insisted that aligning the sector’s funding with its strategic importance is critical for sustainable economic growth.