The Senate has called on the federal government to implement policies that protect local miners and strengthen their businesses across Nigeria. This appeal came as the Ministry of Solid Minerals Development reported generating about N20 billion in revenue for the federation account by the end of September this year.
Senator Ekong Sampson, Chair of the Senate Committee on Solid Minerals Development, urged the government to establish a clear and supportive policy framework to sustain local mining businesses. He made this call during an oversight visit to the Ministry of Solid Minerals Development and its affiliated agencies, including the Nigerian Mining Cadastral Office and the Nigerian Solid Minerals Development Fund.
Sampson expressed concerns over rising mining rates in the country, warning that these increases could deter local investment and place Nigerian miners at a disadvantage compared to foreign operators. He stressed the need for a policy review to ensure growth and revenue while preserving local businesses. “We are exploring strategies to boost revenue and stabilize the economy through consultations and collaboration,” Sampson said.
The chairman praised the ministry’s accomplishments, particularly its improved revenue performance. He emphasized the importance of a legal framework to curb illegal mining, which, he noted, disrupts oversight and diminishes revenue.
Minister of Solid Minerals Development Dr. Dele Alake expressed his commitment to partnering with the Senate Committee to address sector challenges and implement policies that increase federal revenue. He highlighted the ministry’s progress, including securing a recent N2.7 billion forfeiture from an illegal mining operator and attracting foreign investment following Nigeria’s endorsement of the local value-addition policy at the Africa Minerals Strategy Group summit.
Alake lauded the Senate Committee’s recommendations and support, describing their input as vital to advancing the sector. He added, “Our collaboration with the Senate will ensure that we leave a lasting legacy for Nigeria’s solid minerals sector.”
