The National Assembly of Nigeria and the Federal Ministry of Solid Minerals Development yesterday urged the Federal Government to grant the ministry first-line charge status in a bid to accelerate the transformation of Nigeria’s mining sector.
They argued that inconsistent budgetary releases—particularly the absence of capital funding in some fiscal cycles—have significantly undermined efforts to reposition solid minerals as a cornerstone of economic diversification.
The call was made in Abuja when the Minister of Solid Minerals Development, Dele Alake, appeared before the Joint National Assembly Committee on Solid Minerals Development to present the ministry’s 2024 and 2025 budget performance and defend its 2026 budget estimates.
The joint committee, chaired by Senator Ekong Sampson, stressed that granting first-line charge status would guarantee statutory and timely releases to the ministry, similar to other priority sectors of government. Such a move, lawmakers said, would shield the ministry from treasury delays and funding shortfalls that have hampered critical projects.
According to the lawmakers, Nigeria’s vast mineral resources remain largely untapped due to funding constraints, weak infrastructure, and limited exploration activities—challenges they believe can be addressed with predictable and adequate financing.
In his presentation, Alake disclosed that the disaggregated personnel, overhead, and capital ceilings for the ministry and its agencies stood at N165.34 billion for the 2026 fiscal year. He noted that the proposed allocation reflects government’s renewed commitment to strengthening regulatory oversight, curbing illegal mining, and attracting both local and foreign investments into the sector.
The minister emphasised that stable funding would enable the ministry to scale up geological mapping, enhance security around mining sites, deploy modern monitoring technologies, and formalise artisanal miners into the mainstream economy.
He maintained that solid minerals hold immense potential to generate revenue, create jobs, and reduce Nigeria’s overdependence on oil earnings, but warned that the sector cannot thrive without sustained capital investment.
Stakeholders at the session agreed that insulating the ministry’s budget from irregular releases would send a strong signal to investors and accelerate Nigeria’s drive toward economic diversification through mining.
