The Joint Committee on Solid Minerals Development of the National Assembly of Nigeria has called for the Federal Ministry of Solid Minerals Development to be placed on first-line charge in order to guarantee sustainable funding and protect Nigeria’s ₦1 trillion mining ambition.
The position was made known during the Committee’s budget performance review session, where the Honourable Minister of Solid Minerals Development, Henry Dele Alake, presented the Ministry’s 2024 budget implementation report and projections for the 2026 fiscal year.
The session, co-chaired by Ekong Sampson and Jonathan Gaza Gbefwi, underscored growing legislative concerns over zero capital releases to the Ministry, despite ambitious revenue and development targets.
Members of the Committee described the mining sector as strategic to Nigeria’s economic diversification drive and cautioned that inconsistent treasury releases could undermine investor confidence and stall sector reforms.
“How can we develop the mining sector with zero capital releases?” the Committee queried, noting that while the budget framework appears robust on paper, the absence of timely capital funding weakens implementation and threatens long-term objectives.
The Committee therefore proposed that the Solid Minerals Ministry be placed on first-line charge status to ensure predictable and protected funding, similar to other critical national obligations. Lawmakers emphasized that such a move would signal seriousness of purpose and strengthen investor confidence in Nigeria’s mining ecosystem.
In his response, Minister Alake welcomed the proposal, describing it as “a sweet song in my ears,” and reiterated that achieving the Ministry’s mandate requires sustained funding and internationally certified geological data.
He highlighted key performance outcomes for 2024, including:
– 81 percent utilization of the ₦31.24 billion appropriation
– Revenue generation of over ₦28 billion against a -₦11.8 billion target, representing a 139 percent increase
– Arrest of more than 350 illegal miners and prosecution of over 150 offenders through strengthened Mine Marshals operations
– Formalization of artisanal miners into cooperatives to enhance regulation, improve bankability, and increase royalty and tax collection
The Minister further noted that Nigeria’s artisanal mining framework is attracting continental interest, with plans for peer-learning engagements by other African nations.
While acknowledging the Ministry’s strides in revenue growth and sector sanitization, the Committee maintained that without predictable capital releases, efforts to expand geological mapping, reclaim abandoned mine sites, and deepen structural reforms may be constrained.
The Joint Committee reaffirmed its commitment to working with relevant authorities to strengthen the funding architecture for the mining sector and ensure that Nigeria’s vast mineral resources translate into tangible economic growth, job creation, and national prosperity.
