The National Assembly has raised concerns about the poor budget allocation to Nigeria’s solid minerals sector for 2025. To address the issue, the Minister of Finance and Coordinating Economy, Wale Edun, the Minister of Budget, Senator Abubakar Bagudu, and the Director-General of the Budget Office, Tanimu Yakubu, have been summoned to appear before a joint committee of the Senate and House of Representatives.

This session, scheduled for Tuesday, will focus on understanding why a key sector like solid minerals, vital to diversifying Nigeria’s economy, received inadequate funding.

The call to action follows a meeting with the Minister of Solid Minerals, Mr. Dele Alake, who expressed his struggles in securing enough funding for his ministry. Alake disclosed that the initial budget allocation for the sector was only ₦5 billion. Despite persistent lobbying with budget officials and assurances of a significant increase, the allocation was only raised to ₦9 billion.

Alake criticized the lack of support for the solid minerals sector, highlighting its untapped potential to generate revenue for the nation. He revealed that even after several meetings with the Budget Office and the Finance Ministry, little progress was made to secure a reasonable budget for the ministry.

Lawmakers, led by Senator Ekong Samson and Hon. Gaza Jonathan, are determined to address the matter. They aim to ensure that the solid minerals sector receives the funding it needs to contribute meaningfully to Nigeria’s economic growth.

The upcoming meeting with the Finance and Budget ministers is expected to provide clarity on the issue and pave the way for improved funding for the solid minerals sector in future budgets.