By Abbanobi -Eku Onyeka
Abuja
The National Assembly and the Federal Ministry of Solid Minerals Development are urging the Federal Government to grant the ministry’s budget a first-line charge status to unlock the sector’s potential. Inconsistent funding releases, particularly zero capital funding, have hindered efforts to reposition the mining sector as a key driver of economic diversification.
Minister of Solid Minerals Development, Dele Alake, presented the ministry’s 2024 and 2025 budget performance and defended its 2026 budget proposal to the Joint National Assembly Committee on Solid Minerals Development on Monday. Alake emphasized that the ministry’s N156.34 billion budget for 2026 is a strategic investment to unlock solid minerals’ capacity to diversify the national economy, create jobs, and boost Nigeria’s GDP.
However, Alake lamented that implementation challenges, including a zero release of N865.06 billion for capital expenditure in 2025, have stifled the ministry’s ambitions. Despite this, the ministry surpassed its 2025 revenue target by 80%, generating N30.23 billion.
The ministry has made progress in formalizing artisanal miners, establishing mineral buying centers, and reclaiming abandoned mine sites. Nigeria’s improved geological data acquisition has also attracted investor interest, placing the country on the global mining map.
The Joint Committee Chairman, Senator Ekong Sampson, acknowledged the ministry’s strides but expressed concern over the disconnect between appropriations and actual releases. Lawmakers are calling for first-line charge status for the ministry, citing the sector’s sensitivity and critical role in Nigeria’s economic future.
Alake welcomed the proposal, urging lawmakers to consider legislative backing to make it feasible. The committee assured the minister that it would examine the proposal and advocate for stronger prioritization of the sector in the national budget.
Sampson emphasized that prioritizing the solid minerals sector would boost investor confidence and signal Nigeria’s seriousness as a mining destination. Lawmakers agreed that repositioning solid minerals as a first-line charge would guarantee funding stability and enhance Nigeria’s credibility in the global mining space.
The committee pledged to work with the executive to develop templates that would ensure the sector delivers significant benefits for the country. Alake stressed that sustained funding is essential for comprehensive geological mapping and data generation, which form the backbone of credible mining investment.
The proposal is seen as a crucial step towards unlocking the solid minerals sector’s potential and driving economic growth. With legislative backing, the ministry is optimistic that it can overcome funding challenges and achieve its goals.
The outcome of this proposal is eagerly awaited, as it has the potential to transform the solid minerals sector and contribute significantly to Nigeria’s economic development.
