The National Assembly Joint Committee on Solid Minerals rejected the Ministry of Solid Minerals’ 2025 budget estimates on Friday, describing them as grossly inadequate.

According to Punch Online, this decision followed a presentation by the Minister of Solid Minerals, Dele Alake, who submitted the ministry’s proposed budget for review.

However, the committee deemed the allocated funding insufficient to meet the needs of the sector.

Senator Ekong Sampson, Chairman of the joint committee, expressed dissatisfaction with the estimates. He emphasized the importance of the solid minerals sector in diversifying Nigeria’s economy, stating, “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.”

The motion to reject the budget was initiated by Senator Diket Plang (APC-Plateau) and seconded by Senator Natasha Akpoti-Uduaghan (PDP-Kogi). Plang criticized the ministry’s allocation of just N9 billion for capital expenditure, a fraction of the N539.7 billion initially proposed.

Sampson stressed the need for a substantial budget review, highlighting the sector’s potential to drive economic growth. “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,” he said.

The committee co-chairman, Gaza Gbefwi, also supported the rejection, calling for the involvement of the Minister of Planning and Budget. “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,” Gbefwi stated.

Earlier, Minister Alake revealed that the ministry proposed N541.7 billion for 2025, comprising N539.7 billion for capital expenditure and N2 billion for overhead costs. However, the allocated envelope was just N9 billion.

Alake noted that the ministry achieved only 18% performance on its 2024 capital budget due to limited releases, despite a full performance on overhead costs. He urged the committee to support efforts to rectify the inadequate funding.

In terms of revenue generation, Alake reported that the ministry generated N37.8 billion in 2024, surpassing its N11 billion projection.

The committee’s decision underscores the critical need for adequate funding to harness the potential of Nigeria’s solid minerals sector and support economic diversification efforts.