The National Assembly Joint Committee on Solid Minerals on Friday rejected the 2025 budget proposal presented by the Ministry of Solid Minerals, describing it as grossly inadequate.
According to The PUNCH, the Chairman of the committee, Senator Ekong Sampson, made this declaration after Minister of Solid Minerals, Dele Alake, presented the ministry’s budget estimate before lawmakers.
Senator Diket Plang (APC-Plateau) moved the motion for the rejection of the budget, which was seconded by Senator Natasha Akpoti-Uduaghan (PDP-Kogi). Plang highlighted that the ministry received only ₦9 billion as a capital expenditure allocation out of the ₦539.7 billion it had proposed.
“This allocation is unacceptable for a ministry of such strategic importance to the diversification of Nigeria’s economy,” Plang said.
Senator Sampson emphasized the necessity of revising the budget to reflect the ministry’s critical role in economic transformation.
“The estimates presented to us are grossly inadequate and do not align with our nation’s urgent need to diversify its economy. We must invest significantly in the solid minerals sector to address key challenges and position the sector for growth,” he said.
He further explained that the budget required a “radical upward review” to tackle pressing issues such as exploration and data collection.
“The contradictions of being a resource-rich nation yet underperforming economically need to be addressed with bold investments,” he added.
The co-chairman of the committee, Mr. Gaza Gbefwi, also backed the decision, stating that the budget allocation fell short of the sector’s needs. He called for the involvement of the Minister of Planning and Budget in subsequent discussions.
“This budget screening cannot continue under the current allocation. It is unimaginable that a vital ministry receives such a paltry sum. We are here to work for Nigerians, and this budget fails to reflect the country’s priorities,” Gbefwi said.
In his presentation, Minister Alake revealed the ministry’s 2025 budget proposal of ₦541.7 billion, comprising ₦539.7 billion for capital expenditure and ₦2 billion for overhead costs. However, he lamented that the envelope received was drastically reduced to ₦9 billion.
“This allocation is at odds with Nigeria’s objective of economic diversification into green energy and the harnessing of solid minerals,” Alake stated.
The minister also provided a performance review of the 2024 budget, noting 100% implementation of overhead costs but only 18% performance for capital projects due to limited releases.
“Our revenue generation for 2024 stood at ₦37.8 billion, exceeding the ₦11 billion target, but achieving our broader goals requires adequate funding,” he added.
The committee resolved to invite the Minister of Planning and Budget for further deliberations and temporarily suspended the ministry’s budget defence pending a review.
