In a resounding call for the exploration of untapped resources in Nigeria’s mining sector, Hon. Benjamin Kalu, the Deputy Speaker of the House of Representatives, emphasized the urgent need for harnessing the potentials within the mining industry to drive rapid socioeconomic development. Addressing attendees at a public policy dialogue focused on two pivotal bills organized by the House Committee on Solid Minerals, Hon. Kalu underscored the critical role that the mining sector could play in diversifying the nation’s economy.
Nigeria, endowed with over 40 commercially viable minerals, has historically overlooked these resources due to an overreliance on oil. Hon. Kalu expressed his concern over the current state of affairs, noting that the mining sector contributes a mere 0.3% to the country’s GDP. In response to this, he highlighted the existence of eight mining-related bills currently under consideration. These bills constitute a comprehensive reform package aimed at addressing the challenges faced by the mining sector and propelling it into a more prosperous future.
Among the objectives of the proposed bills are enhanced security measures, infrastructure development, the cultivation of a skilled workforce, and streamlined regulations. Hon. Kalu stressed that it is unacceptable for a nation with abundant mineral resources to lag behind in mining sector contributions to the GDP.
“The time for action is now,” declared the Deputy Speaker, urging stakeholders to seize this opportune moment. He emphasized the transformative potential of revitalizing Nigeria’s mining sector into a sustainable engine for growth and development.
Echoing these sentiments, His Excellency Abdulahi Sule, the Governor of Nasarawa State, emphasized that Nigeria possesses over 40 untapped mineral resources in commercial quantities across the country. Sule asserted that if well-managed, these resources could potentially replace crude oil as the nation’s highest foreign exchange earner.
Governor Sule highlighted the imperative of serious reforms in the solid minerals sector to secure the country’s economic future. He emphasized the necessity for policies that not only drive the sector’s growth but also benefit the Nigerian populace.
The Chairman of the House Committee on Solid Minerals added weight to the discourse, stating that the proposed solid minerals bill, slated for presentation before the house, seeks to address the longstanding challenges that have hindered the sector’s progress over the years. The proposed legislation aims to provide a framework that fosters sustainable development and maximizes the economic potential of Nigeria’s abundant mineral resources.
