The Minister of Solid Minerals, Mr. Dele Alake, made startling revelations on Tuesday, asserting that influential individuals engaged in illegal mining are allegedly backing banditry and terrorism in Nigeria.
Alake made these claims during the budget defense for the Ministry of Solid Minerals in Abuja before the House of Representatives Committee.
Highlighting the involvement of both powerful Nigerians and foreign nationals in illicit mining, Alake urged the Federal Government to closely monitor the sector, which he believes has the potential to contribute trillions to the country annually. He disclosed ongoing efforts to identify and address those behind illegal mining through various means, including encouraging small-scale miners to form cooperatives.
Alake expressed concern about foreigners engaging in illegal mining without proper immigration documentation. Emphasizing the need for a formal structure similar to the Nigerian National Petroleum Company Limited (NNPCL), he proposed a private sector-driven approach for the Nigeria Mining Cooperation. He assured that this structure would be designed to withstand destabilization by future governments.
The minister emphasized the vast mineral wealth in the country, estimating over $700 billion in conservative value, with only a fraction utilized. He called for support from the committee, asserting that a substantial budget allocation could enable the ministry to surpass contributions from other sectors, including oil revenue.
Alake identified 44 minerals with high demand and six in global demand, asserting Nigeria’s potential to become a global economic hub through solid minerals. However, he stressed the necessity of creating a conducive environment for investors, addressing challenges in the operating environment.
Committee Chairman Rep. Gaza Gbefwi acknowledged the pivotal role of the solid minerals sector in diversifying the economy but criticized the grossly inadequate funds allocated in the 2024 budget. Gbefwi revealed the committee’s proactive steps, including motions and bills, aimed at strengthening and reorganizing the sector.
The news story also touched on the escalating presence of militants in northwest and central Nigeria, expanding beyond their traditional northeast stronghold. These militias engage in terrorizing local communities through raids, killings, kidnappings for ransom, and the destruction of homes after looting.