Alake Seeks Increased Funding, Legislative Support For Mining Sector
Dr. Dele Alake, the Minister of Solid Minerals Development, called for increased government funding and legislative support to overcome the challenges facing Nigeria’s mining sector during an investigative hearing by the Senate Committee on Solid Minerals.
Dr. Alake highlighted poor funding and insecurity as significant obstacles that impair the sector’s capacity to act as a diversification pivot for the Nigerian economy.
He provided a sobering comparison of Nigeria’s exploration investments with other African nations, pointing out that Nigeria’s $2.5 million exploration budget starkly contrasts with Ivory Coast’s $147 million and Congo’s $133 million, as reported by Standard & Poor.
“In our determination to compete, we proposed a budget of N70 billion for detailed nationwide exploration. However, our current budget constraints may slow down our desired progress. We urgently need the Senate’s support to fund exploration activities and properly equip our personnel to regulate the sector effectively.”
Addressing illegal mining, a significant revenue leak, the Minister detailed the operational scope of the newly formed Mining Marshals, a 2,220-strong force tasked with curbing unlawful mining activities across the nation.
Alake described four types of illegal miners plaguing the industry and underscored the annual loss of over $9 billion due to these activities.
Beyond enforcement, the Minister also touched on advocacy efforts, including a radio campaign and support for artisanal miners to form cooperatives, aligning with the government’s policy to encourage legal mining practices.
Dr. Alake further announced the planned establishment of six additional processing centers across various geopolitical zones to foster value addition in line with the Federal Government’s new policy directives.
Senate President Sen. Godswill Akpabio commended Dr. Alake for his hands-on approach and reaffirmed the Senate’s commitment to supporting the executive’s efforts to harness the mining sector for economic growth.
“We must work together to ensure that the resources lost to illegal mining and other challenges are recovered and effectively utilized,” said Sen. Akpabio.
Senator Ekong Sampson, Chairman of the Senate Committee on Solid Minerals Development, stressed the hearing’s goal to identify and resolve the bottlenecks in the sector.
“With vast mineral resources at our disposal, it is imperative to address these issues promptly to benefit all Nigerians,” he concluded.
The hearing will continue as stakeholders look forward to actionable insights and robust legislative frameworks to revitalize Nigeria’s underexplored mineral wealth.
