The National Assembly joint committee on Solid Minerals has rejected the 2025 budget proposal submitted by the Ministry of Solid Minerals, citing inadequate allocation for critical capital projects. The ministry had proposed N539.7 billion for capital expenditure, but only N9 billion was approved, prompting the committee to call for a significant upward review.
Senator Ekong Sampson, chair of the committee, emphasized the importance of prioritizing the solid minerals sector to drive Nigeria’s economic diversification away from oil dependency. “The presented estimates are grossly inadequate for addressing the sector’s key challenges and potential,” he said.
Supporting the motion to reject the budget, Senator Diket Plang and Senator Natasha Akpoti-Uduaghan urged for a review, highlighting that the ministry’s allocation contradicts the government’s diversification agenda. Meanwhile, co-chair Gaza Gbefwi called for the Minister of Planning and Budget to intervene to address the sector’s funding gap.
Minister Dele Alake noted that while the ministry generated N37.8 billion in revenue in 2024, it faces significant hurdles due to insufficient releases for capital projects. The 2024 capital performance was a dismal 18%, hindering progress in exploration and green energy initiatives.
