The National Assembly Joint Committee on Solid Minerals rejected the Ministry of Solid Minerals’ 2025 budget proposal on Friday, citing it as inadequate for the sector’s needs.
The rejection came after Minister Dele Alake presented the ministry’s proposed budget of ₦541.7 billion, which included ₦539.7 billion for capital projects. However, only ₦9 billion was allocated by the government for these expenses, far below what the ministry requested.
Senator Diket Plang (APC-Plateau) moved the motion to reject the budget, supported by Senator Natasha Akpoti-Uduaghan (PDP-Kogi). Committee Chairman Senator Ekong Sampson emphasized the critical role of the solid minerals sector in diversifying Nigeria’s economy and called for an urgent review.
“This budget is grossly inadequate and does not address the key challenges in the sector. For Nigeria to diversify its economy and invest in its future, we need a significant increase in funding for this sector,” Sampson stated.
The committee suspended further discussions on the budget, urging the Minister of Planning and Budget to appear before them for clarification.
Minister Alake explained that the proposed budget was aimed at driving economic diversification through the solid minerals sector. However, he lamented the allocation, describing it as a “far cry” from what is needed.
The minister also highlighted that in 2024, the ministry achieved 100% performance on overhead costs but only 18% on capital projects due to low budget releases. Despite this, the ministry exceeded its revenue projection, generating ₦37.8 billion instead of the projected ₦11 billion.
The committee insisted that the budget must be revised significantly to support Nigeria’s progress and achieve the government’s economic goals.
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