Abuja: The Senate and House of Representatives Committees on Solid Minerals Development have made a strong case for increased funding of the solid minerals sector in Nigeria, emphasizing its economic potential and significance in the country’s diversification efforts. This call was made during the opening of a two-day ministerial retreat in Abuja, organized by the Ministry of Solid Minerals Development.
According to News Agency of Nigeria, the retreat, themed ‘Accelerating Solid Minerals Sector Transformation: Delivering on Ministerial Mandate Through the Seven Priority Areas,’ gathered key stakeholders to assess progress and outline a sustainable growth strategy for the sector. Sen. Sampson Ekong, Chairman of the Senate Committee on Solid Minerals Development, highlighted the critical need for adequate funding and stronger collaboration among stakeholders to drive necessary reforms and fully exploit the sector’s opportunities.
Ekong expressed concerns over the lack of sufficient budgetary allocations to the sector, despite its significant economic potential. He stressed the necessity of improved funding to convert reforms into concrete results, urging the Federal Government to prioritize the solid minerals sector as a central component of Nigeria’s economic diversification strategy.
Similarly, Rep. Jonathan Gbefwi, Chairman of the House Committee on Solid Minerals Development, reiterated that inadequate funding remains a significant hurdle, despite progress in the sector. Gbefwi noted the sector’s potential to rival the oil industry as a major revenue source for the government if given the necessary financial support.
Dr Faruk Yabo, Permanent Secretary of the ministry, described the retreat as a strategic platform to align institutional visions and reinforce commitment to sectoral objectives. He outlined the ministry’s focus on seven priority areas, as defined by the Minister of Solid Minerals Development, Dr Dele Alake, to guide the sector’s transformation.
These priorities include the establishment of the Nigerian Solid Minerals Corporation, development of strategic joint ventures with international mining companies, and the expansion of geoscience data acquisition. The ministry also aims to create a National Solid Minerals Database and formalize artisanal and small-scale miners into cooperatives.
Yabo further mentioned plans to reconstitute the Mines Surveillance Task Force and Mine Police, review mining licenses, and optimize the Mining Cadastre System for increased efficiency. Additionally, there are plans to establish six mineral processing centers nationwide to promote local value addition and reduce raw mineral exports.
Dr Dele Alake, the Minister of Solid Minerals Development, encouraged ministry staff and agencies to build on the progress achieved under the Seven Priority Areas initiative. He highlighted the ministry’s achievements in reforms, investment promotion, mining security, digitization, revenue generation, and institutional strengthening over the past two years, while emphasizing the importance of focusing on measurable outcomes and sustainable economic impact.
Alake underscored Nigeria’s determination to leverage its mineral resources to drive industrialization, including local production of high-value products like electric vehicle batteries. He commended the ministry’s staff for their contributions to repositioning the sector and urged them to continue efforts towards achieving long-term transformation goals.