The Minister of Solid Minerals Development, Dr. Dele Alake, has voiced his discontent over the drastic cut of his ministry’s proposed budget from N531 billion to N9 billion. He characterised this reduction as unacceptable while seeking an increase, though he did not specify the desired amount. Alake has formally protested to the National Assembly, asserting that the current allocation is insufficient to unlock Nigeria’s mining potential and that such limitations would stifle potential investments vital for exploration and growth in the sector. Furthermore, he highlighted that the 2024 revenue projections exceeded expectations, generating N38 billion, thus demonstrating the capacity for growth in the mining sector despite the minimal budgetary support.

The significant reduction of Nigeria’s mining sector budget poses a serious challenge to its economic diversification efforts, as it heavily relies on oil revenue. The proposed cut could undermine ongoing reforms and achievements within the mining industry. Recent figures indicated that reforms helped create 45,000 jobs and exceeded revenue expectations. The government, represented by the Minister and the Joint National Assembly Committee on Solid Minerals, expresses concerns about the implications of such a minimal budget and its impact on future investments and sustainable economic growth.

The drastic cut in the mining sector budget has spurred considerable backlash from the Minister and legislative committees, who argue that it threatens the future potential of Nigeria’s solid minerals industry. With calls for a budget increase, the focus remains on ensuring significant investments for exploration to sustain economic diversification beyond oil reliance. Concerns about job creation and revenue generation continue to be pivotal in discussions surrounding the budget allocation for the mining sector.

Original Source: 21stcenturychronicle.com

The post Minister Decries Cutting Nigeria’s Mining Sector Budget to N9 Billion first appeared on Nigerian Mining News.

Dr. Dele Alake, Nigeria’s Minister of Solid Minerals Development, has expressed strong discontent regarding the drastic reduction of his ministry’s proposed capital budget for 2025 from N531 billion to a mere N9 billion. He articulated his concerns on social media, highlighting that such cuts would severely limit investments necessary for unlocking Nigeria’s mining potential. The minister reported that while mining reforms generated 45,000 new jobs in 2024 and revenue surpassed projections, the current allocation is woefully inadequate for critical exploration activities.

Alake, alongside the Joint National Assembly Committee, emphasised that the N9 billion budget fails to meet the essential financial requirements for fostering significant investment in the mining sector, crucial for Nigeria’s economic diversification. Both Committee Chairman Senator Ekong Sampson and Co-Chairman Gaza Gbefwi joined in condemning the budget reduction as a blow to the country’s capacity to generate revenue. Gbefwi warned against compromising future generations by neglecting such promising sectors as solid minerals.

Senator Natasha Akpoti-Uduaghan suggested halting budget screenings until a proper increase is made. Consequently, the Joint Committee rejected the proposed budget and invited relevant ministers to push for a review that would unlock Nigeria’s mineral resource potential further.

This reflects a broader push for better budgetary support that aligns with the nation’s need for economic diversity beyond oil, framing solid minerals as a cornerstone of this transition.

Dr. Dele Alake stated, “This is unacceptable, as it will hinder any significant investment in exploration… We seek the support of the National Assembly for a radical upward review of the budget.” – 21st Century Chronicle.

The ongoing discussions signal an urgent need for investment in Nigeria’s mining sector to facilitate long-term economic gains and employment opportunities, as well as to increase national revenues.

– Key Points:
1. The proposed capital budget for the mining sector for 2025 is dramatically reduced.
2. Minister Dele Alake and the Joint Committee call for an upward review of the budget.
3. There is a push for increased investment in Nigeria’s mining to drive economic diversification.
4. Critics of the budget cuts see them as detrimental to future generations and growth in the sector.

– Conclusion:
Minister Alake’s dissatisfaction with the N9 billion budget underscores critical gaps in funding necessary for the advancement of Nigeria’s mining infrastructure and workforce development. The rejection by the Joint Committee encapsulates the urgent call for reassessment of priorities to safeguard the future economic health and potential of the nation through solid minerals.

This article discusses the ongoing issues within Nigeria’s mining sector, particularly focusing on a significant budget reduction proposed for 2025. The Minister of Solid Minerals Development, Dr. Dele Alake, has vocalised concerns regarding this cut, seeing it as a hindrance to the potential growth and exploration needed in the industry. The background discusses Nigeria’s reliance on oil, the recent jobs created through mining, and the importance of solid minerals in economic diversification.

The situation highlights the urgent need for increased support and investment in Nigeria’s mining sector. Minister Alake’s statements, alongside the condemnation from the Joint Committee, reflect a clear consensus on the necessity for a budget review to secure the future economic sustainability of the country based on its mineral resources.

Original Source: 21stcenturychronicle.com

The post Minister Rejects Dramatic Cuts to Nigeria’s Mining Budget first appeared on Nigerian Mining News.

The Minister of Solid Minerals Development, Dr. Dele Alake, has expressed strong disapproval of the N9 billion budget allocated for Nigeria’s mining sector in 2025, calling for a significant increase. In a post on X, Alake argued that this financial allocation is insufficient to harness the country’s mining potential, despite the sector generating N38 billion in revenue in 2024, exceeding an initial projection of N11 billion. He emphasised that to secure substantial investments in exploration activities, an upward review of the budget is essential.

Alake pointed out the success of mining reforms in 2024, which resulted in 45,000 new jobs and enabled Nigeria to attract global attention in the sector. He asserted that the N9 billion budget would severely limit exploration efforts and hinder necessary geo-data generation to engage major investors. Furthermore, the Joint National Assembly Committee on Solid Minerals has also rejected the proposed budget, advocating for increased funding to promote solid minerals as a critical component of economic diversification. Committee Chair Senator Ekong Sampson highlighted the crucial need for investment in exploration to facilitate Nigeria’s green energy transition.

Nigeria is Africa’s leading energy producer but struggles to leverage its mineral resources effectively, contributing less than 1% to its GDP. Persistent challenges include inadequate incentives, rampant illegal activities, and low investment levels. The country aims to diversify its economy and harness the potential of its solid minerals sector, which is viewed as key for future economic stability and growth. Recent reforms demonstrated the possibility of job creation and revenue generation, but the budgetary allocation needs considerable enhancement to facilitate further progress.

In summary, Dr. Dele Alake’s call for an increased budget for Nigeria’s mining sector underscores the necessity of substantial investment for exploration and growth. With the Joint National Assembly Committee echoing his concerns, there is a growing consensus on the urgent need for policy adjustments to ensure Nigeria capitalises on its mineral wealth and drives economic diversification away from oil dependency. Without adequate funding, opportunities for future generations may be severely compromised.

Original Source: nairametrics.com

The post Dele Alake Critiques N9 Billion Mining Budget, Advocates for Increase first appeared on Nigerian Mining News.

A new TV drama series titled “Hidden Riches” will premiere on January 25, focusing on the complexities and potential of Nigeria’s mining industry. Initiated by the Ministry of Solid Minerals Development, the series features a talented cast, including Sydney Diala and Lara Owoeye-Wise. It aims to depict the interplay of politics, power, and ambition entwined with the country’s rich mineral resources, showcasing the challenges and opportunities faced by miners, activists, and everyday citizens. The series is expected to raise awareness about the opportunities within the solid minerals sector and encourage participation in sustainable economic growth.

The launch of “Hidden Riches” is part of the Nigerian government’s strategy to leverage its vast mineral wealth for economic development. By highlighting the intricacies of the mining sector, the series seeks to inform viewers of its potential to contribute to Nigeria’s economy sustainably. This initiative aligns with ongoing efforts to diversify the economy under President Tinubu’s Renewed Hope Agenda, emphasising solid minerals as a critical pathway for transformation and resource management.

“Hidden Riches” represents a significant cultural and educational initiative, aiming to inform not only about Nigeria’s mining issues but also about the economic benefits that can arise from responsible mining. By engaging a broad audience through storytelling, the series aspires to inspire participation in the industry and highlight its role in national development.

Original Source: leadership.ng

The post Nigeria’s Mining Sector Explored in New TV Series “Hidden Riches” first appeared on Nigerian Mining News.

The Nigerian government, led by President Bola Tinubu, has entered into a Memorandum of Understanding (MoU) with France aimed at collaborative mining projects. This agreement focuses on critical minerals essential for clean energy, such as copper and lithium, and seeks to revitalize over 2,000 abandoned mining pits in Nigeria. The MoU will also facilitate exchanges between Franco-Nigerian students and implement sustainable mining practices aimed at reducing environmental impacts.

The collaboration, signed during President Tinubu’s official visit to France, includes commitments to co-finance joint extractive and processing projects. It emphasises applying international best practices to improve the socio-economic conditions of those affected by mining activities. The parties aim to enhance skill sets within the critical metals sector through training initiatives and knowledge transfer, fundamentally repositioning Nigeria’s mining sector for global competitiveness, according to Minister Dr Dele Alake.

The partnership between Nigeria and France comes at a time when clean energy technologies increasingly rely on critical minerals. These resources, including nickel, cobalt, and rare earth elements, are crucial for technologies that support climate goals and sustainable energy. This initiative aims not only to exploit these resources responsibly but also to address the dire safety concerns in Nigeria’s mining sector, highlighted by recent tragedies involving mining collapses.

In conclusion, the MoU signed between Nigeria and France represents a significant step towards improving the country’s mining sector through sustainable practices and international cooperation. By revitalising abandoned sites and focusing on training and knowledge exchange, both nations aim to enhance the effectiveness and safety of mining operations, thereby empowering local communities and attracting foreign investment.

Original Source: saharareporters.com

The post Nigeria and France Sign Pact for Joint Mining Projects and Sustainability first appeared on Nigerian Mining News.

Nigeria’s Minister of Steel Development, Shuaib Abubakar Audu, announced plans to privatise Ajaokuta Steel Company Limited (ASCL) and its associated Iron Ore Mine in Itakpe during the Ninth Nigeria Mining Week in Abuja. The initiative aims to stimulate operational efficiencies in the sector, which currently incurs over $4 billion annually in steel imports. This move is part of a broader strategy to revitalise Nigeria’s mining sector as a cornerstone for economic diversification. The government is committed to transforming the mining sector, as emphasised by Uche Geoffrey Nnaji, who spoke on behalf of President Bola Tinubu. He praised the efforts of Dr. Dele Alake, the Minister of Solid Minerals, stating, “His dedication has reinvigorated our approach, addressing challenges… shaping a mining sector that can stand as a global model of innovation and sustainable development.” Minister Alake reaffirmed the government’s aim to achieve economic reform through mining, citing a seven-point agenda designed from extensive research. He noted significant progress, including the prosecution of over 300 illegal miners and ongoing reforms intended to enhance the sector’s economic contribution. Garza Jonathan Gbefwi, Chairman of the House Committee on Solid Minerals, called for increased funding in the upcoming 2025 budget, highlighting the sector’s potential economic benefits. Dr. Orji Ogbonnaya Orji, Executive Secretary of NEITI, reported that Nigeria produced 95.07 million tonnes of solid minerals in 2023, earning N9.01 billion in royalties, although only contributing 0.75% to GDP.

The Ajaokuta Steel Company Limited has long been viewed as a crucial asset for Nigeria’s industrial ambitions. However, it has struggled to operate effectively due to various challenges, prompting calls for privatisation as a solution. Investments in the steel industry are vital as Nigeria aims to reduce its heavy reliance on steel imports. The government’s focus on revitalising the mining sector is part of a larger economic diversification strategy to bolster growth and reduce import dependency.

The federal government of Nigeria is taking significant steps to privatise Ajaokuta Steel Company and its Iron Ore Mine in Itakpe to enhance operational efficiencies and reduce steel import costs. This initiative aligns with broader efforts to bolster the mining sector as a key component of Nigeria’s economic diversification. Not only is this expected to reshape the industry, but it also aims to increase the sector’s contribution to the nation’s GDP.

Original Source: nairametrics.com

The post Nigeria Plans to Privatise Ajaokuta Steel Company to Boost Mining Sector first appeared on Nigerian Mining News.

The Nigerian government is committed to fostering a strong and inclusive mining sector that drives economic growth and benefits communities. Dr Mary Ogbe, Permanent Secretary of the Ministry of Solid Minerals Development, highlighted this during her address at the Nigeria Mining Week, emphasising a transformative seven-point agenda focusing on data gathering, surveillance, and community involvement. A crucial part of this agenda requires all mining lease applicants to submit a value addition plan, shifting the focus from raw mineral exports to in-country processing, job creation, and local industry support. Furthermore, a review of the Nigerian Minerals and Mining Act from 2007 is underway to align with international standards, enhancing transparency and sustainability while attracting quality investments. Ogbe urged stakeholders to partner with the government to unlock the sector’s potential for economic impact. Adekunle Elumaro, CEO of KSM2G, highlighted the importance of tax compliance among mining companies to facilitate ongoing reforms and boost investor confidence. The ongoing Nigeria Mining Week aims to unite key players in the industry, focusing on operational strategies to attract investments and technical expertise in the vibrant extractive sector.

The discussion surrounding the Nigerian mining sector is critical as the country seeks to diversify its economy. The mining industry, historically underdeveloped, presents significant potential for economic upliftment and community development. With ongoing reforms, Nigeria aims to attract both local and foreign investments, ensuring that mining activities benefit the wider population and adhere to best practice standards. The government’s focus on value addition and sustainable practices marks a strategic shift towards realising these goals.

In conclusion, Nigeria’s commitment to a resilient mining sector is evident through policy reforms and initiatives aimed at fostering local development. The focus on value addition, transparency, and community engagement, alongside a collaborative approach with stakeholders, positions Nigeria to maximise its mining potential. As the sector evolves, it is crucial for mining companies to engage positively with the reforms to secure a prosperous future.

Original Source: punchng.com

The post Nigeria’s Commitment to a Resilient and Inclusive Mining Sector first appeared on Nigerian Mining News.

The Kebbi State Government in Nigeria has refuted claims of illegal mining in Libata village within the Ngaski Local Government Area. Commissioner Haliru Muhammad Wasagu addressed these allegations during a press briefing in Birnin Kebbi, stating that Governor Nasir Idris’ administration has implemented significant reforms in the mining sector to enforce compliance with regulations. He clarified that only the Federal Government can issue mining licenses, as solid minerals are governed by the Exclusive Legislative List. Wasagu announced that efforts to curb illegal mining have been intensified to improve security in the region, driven by the absence of corporate social responsibility from mining firms. He mentioned that seven mining companies have been authorised to operate in Libata under stringent protocols. Further clarifying the situation in Libata, Wasagu revealed that Three Crowns Company holds a license for 5.4 square kilometres, with a fraction designated to El-Tahdam Exploration Limited. Both companies have successfully completed the necessary registration and licensing at both state and federal levels.

The statement from the Kebbi State Government addresses mounting concerns over illegal mining activities, which have been linked to security challenges and the neglect of corporate social responsibility by mining operators. The government is working to regulate the mining sector more effectively and clarify existing licensing requirements, emphasizing that any violations or illegal operations will not be tolerated under the current administration. This response highlights the conflict between local community needs and mining operations, especially in resource-rich areas like Ngaski.

The Kebbi State Government firmly rejects allegations of involvement in illegal mining and is committed to reforming the mining sector. This includes stringent regulations on licensed companies and a focus on corporate social responsibility. The government’s swift actions demonstrate its intent to safeguard both the local communities and the environment in the wake of rising concerns over illegal practices.

Original Source: von.gov.ng

The post Kebbi State Government Denies Illegal Mining Claims in Libata first appeared on Nigerian Mining News.

The Nigerian government has apprehended 300 illegal miners, including foreign nationals, in a nationwide crackdown aimed at enhancing the mining sector. Minister Dele Alake announced these arrests during a recent oversight visit by the House Committee on Solid Minerals in Abuja. The initiative is part of a comprehensive 7-point agenda focused on combating illegal mining and securing community protection while attracting international investors. Alake emphasised the positive impact of a newly deployed force of over 2,000 trained mine marshals responsible for enforcing security in mining areas. He expressed gratitude towards President Bola Tinubu for his support, which has streamlined inter-ministerial collaboration to ensure efficient resource deployment to safeguard these vital sites. This effort underscores a significant commitment to restoring Nigeria’s standing as a global mineral hub. The ministry’s outreach campaigns have successfully attracted interest from prominent international investors, aligning with a strategic vision to turn Nigeria’s mining industry into a cornerstone of economic development. Alake noted the critical legislative support in establishing a robust mining framework conducive to foreign partnerships and sustainable growth.

The Nigerian mining sector has faced challenges with illegal mining activities, impacting both the economy and community safety. The government’s recent initiative, involving mass arrests, seeks to address these issues through enhanced security measures and international collaboration. This action aims to restore Nigeria’s reputation in the global mining market, attracting investment and ensuring safer mining practices for local communities.

The arrest of 300 illegal miners marks a significant step by the Nigerian government to strengthen the mining sector. By enforcing stricter regulations and enhancing security, the initiative seeks to create a safer investment environment while promoting economic growth through international partnerships. The government’s commitment, supported by legislative backing, reflects a clear goal to reposition Nigeria as a leader in mineral development.

Original Source: www.pulse.ng

The post Nigerian Government Arrests 300 Illegal Miners in Sector Revitalisation Effort first appeared on Nigerian Mining News.

As the 9th Nigeria Mining Week approaches, Dr. Dele Alake, the Minister of Solid Minerals Development, has pledged to address environmental issues linked to mining operations. He mentioned that the ministry is advancing robust policies aimed at curtailing environmental degradation while maximising Nigeria’s mining potential for economic growth. Dr. Alake highlighted the legacy of over 1,000 abandoned mining pits and emphasised ongoing remediation efforts to mitigate the environmental risks they pose to local communities. In a press briefing, the minister elaborated on the ministry’s strategies, which include a department focused on environmental compliance for mining operators. All applicants for mining permits must now submit plans for site remediation before receiving licences. This measure aims to prevent unaccountable abandonment of mining sites. Dr. Alake also stressed the ministry’s commitment to public awareness initiatives regarding the dangers of unregulated mining, asserting that illegal operations significantly harm the environment, unlike regulated operators. The government is also prioritising data transparency within the mining sector, aiming to attract investments by ensuring the availability of high-quality geoscientific data. Dr. Alake expressed the intention to enhance Nigeria’s appeal as an investment destination aligned with international standards, while also pushing a value-addition strategy that promotes local processing of resources. This approach aims to generate jobs and bolster the economy across sectors. Dr. Mary A. Ogbe, Permanent Secretary, noted the media’s vital role in shaping public perception of Nigeria’s mining potential. Dele Ayanleke, President of the Miners Association, remarked on the significance of informing both local and international audiences about the opportunities presented during the mining week. Additionally, Habeeb Jaiyeola from PricewaterhouseCoopers outlined that the event will cover various pivotal topics, underlining the strategic value of critical minerals and the need for sustainable development. The three-day event is scheduled from November 18 to 20, 2024.

The Nigeria Mining Week is an annual event designed to showcase the mining industry’s potential and foster investment in Nigeria’s solid minerals sector. Environmental management is a pressing concern due to historical mining practices that left numerous abandoned pits posing risks to local ecosystems and communities. The current administration aims to rectify these past oversights while promoting sustainable mining practices that align with global standards. By integrating environmental stewardship into the mining strategy, Nigeria seeks to attract both domestic and foreign investments, ultimately enhancing the country’s economic resilience and growth.

Dr. Dele Alake’s commitment to addressing environmental hazards in Nigeria’s mining sector highlights the government’s proactive approach towards sustainable practices. With a focus on remediation, regulatory compliance, and public awareness, the ministry aims to transform challenges into opportunities for economic advancement. The upcoming Nigeria Mining Week serves as a platform to reinforce these objectives, showcasing Nigeria’s mineral-rich landscape and its potential for sustainable development.

Original Source: www.thisdaylive.com

The post Minister Pledges to Tackle Environmental Challenges Ahead of Nigeria Mining Week first appeared on Nigerian Mining News.