The National Assembly Joint Committee on Solid Minerals has rejected the 2025 budget estimates submitted by the Ministry of Solid Minerals, describing them as grossly inadequate.
This decision came on Friday after Minister Dele Alake presented the proposed budget for review. 
According to Senator Ekong Sampson, chairman of the joint committee, the budget allocation fails to meet the critical needs of the sector.
He stressed the importance of the solid minerals sector in driving economic diversification.
“The estimates presented before us are grossly inadequate and will not support our economy at this critical time when we must invest in the future,” he said.
The committee highlighted the ministry’s proposed N9 billion capital expenditure, afraction of the N539.7 billionminitially proposed.
Senator Diket Plan (APC-Plateau) and Senator Natasha Akpoti-Uduagh (PDP-Kogi) criticized the allocation, with Plang stating,
“This budget clearly needs a review. It’s time to take bold steps in exploration, data gathering, and addressing major challenges in this richly endowed sector.”
Minister Alake, during his presentation, revealed that the ministry proposed N541.7 billin, comprising N539.7
billion for capital expenditure and N2 billion for overhead costsm, but received only N9 billion.
He noted the ministry achieved just 18% performance on its 2024 capital budget due to limited releases, despite full overhead performance.
Alake also reported that the ministry generated N37.8 billion in revenue in 2024, surpassing its N11 billion projection, underscoring its potential to boost the economy.
The committee co-chairman, Gaza Gbefwi, proposed involving the Minister of Planning and Budget to address the funding disparity.
He stated, “We are here to pass a budget for the progress of Nigerians, not for the ministry. I propose we suspend this screening and invite the Minister of Planning and Budget to address these issues.”
The decision highlights the urgent need for adequate funding to harness the vast potential of Nigeria’s solid minerals sectorband to effectively support efforts toward economic diversification.
The committee stressed that the sector deserves substantial investment to realize its promise of driving sustainable growth.
