The senate has urged the federal government to initiate policy to protect local miners and their businesses in the country.
The appeal came just as the Ministry of Solid Minerals Development said it had generated about N20billion into the federation account as of the end of September, this year.
Chairman of the Senate Committee on Solid Minerals Development, Senator Ekong Sampson, made the call when he led members of the committee on a oversight visit to the Ministry of Solid Minerals Development and some of agencies under it in Abuja.
He said a well-articulated and favourable policy would sustain the businesses of local miners in the country.
The agencies of the ministry include the Nigerian Mining Cadastral Office and the Nigerian Solid Minerals Development Fund.
The senate panel expressed concerns about recent mining rates increase in the country and its potential to stifle local mining investments compared to their foreign counterparts in the sector.
Sampson said: “What you need to know is that there is going to be a review of policy. We are exploring trajectories to ramp up revenue for the government. Through proper consultations and collaboration, we need to firm up the economy.
“So, we are committed to working together and the important thing is that this sector needs attention and having a very committed Nigerian as minister, working closely with the National Assembly, better days are ahead.”
The chairman lauded the ministry’s achievements, particularly in improving revenue performance.
“This sector is crucial to our economy, and we are impressed by the improved revenue profile,” he said.
He further said the committee is committed to maximizing the sector’s potential through partnership with the ministry.
“Together with the ministry and through active collaboration, we are confident in our ability to drive sustainable development in this essential sector,” he said.
He also highlighted the need for a robust legal framework to curb illegal mining.
Sampson said: “Illegal operators not only undermine revenue but also disrupt oversight functions. By enacting stronger legal measures, we can create a mining environment free from unauthorized activities.”
The Minister of Solid Minerials Development, Dr. Dele Alake and the Chairman of the Senate Committee on Solid Minerals, Senator Sampson, however expressed readiness to collaborate with the ministry to sanitise the mining sector and emplace policies that would help generate more revenue for the federal government.
In his presentation, Alake said: “The report of our revenue collection is also there. We have recorded over N17billion and if you compare that with the performance in 2023, you will see quantum leap and about two weeks ago, we were able to secure a N2.7 billion forfeiture from an illegal operator engaging in illegal mining operation.”
Alake called for a reinforced partnership with the Senate Committee on Solid Minerals Development to drive Nigeria’s solid minerals sector towards sustained economic impact.
He disclosed the ministry’s progress in attracting foreign investment and expanding Nigeria’s presence on the international stage, particularly after Nigeria’s local value-addition policy was endorsed at the recent Africa Minerals Strategy Group summit.
“Nigeria’s solid minerals sector is now a global player,” he added.
The minister commended the senate committee for their insightful recommendations and ongoing support.
“Your critical feedback has been vital to our progress. We look forward to an even closer collaboration with the Senate to ensure our work leaves a lasting legacy,” he said.
Other members of the committee that participated in the oversight visit included Senator Kabeeb Mustapha (Vice Chairman); Minority Whip of the Senate, Senator Osita Ngwu – Enugu West; and Senator Diket Plang – Plateau Central.
The rest were Onyeka Nwebonyi, Mohammed Ogoshi Onawo; Senator (Prof) Anthony Ani and Senator Okechukwu Ezea.
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