Solid Minerals Development For Economic Diversification – Abbas

Speaker of the House of Representatives, Abbas Tajudeen, has said developing the country‘s solid minerals sector is not just an option but imperative for economic diversification.

Abbas, who stated this at a public hearing on 12 bills seeking to develop the solid minerals sector in Abuja on Thursday, observed that Nigeria‘s economy had been heavily reliant on a single commodity for decades.

Represented by Hon. Mark Oseni (APC, Taraba), the speaker said the bills represented a strategic pivot in the national economic agenda.

„These bills collectively address this sector‘s key challenges and opportunities, from legal frameworks and institutional reforms to funding mechanisms and human capital development.

„Specifically, we are here to deliberate on: a Bill for an Act to repeal the Nigerian Coal Corporation Act and enact the Nigeria Coal Development Commission, which seeks to modernise and revitalise our coal industry.

The Bill for an Act ensures adequate funding for the exploration and extraction of mineral resources through public-private partnerships, which aim to unlock private capital to drive growth.

„The Bill to establish the Lithium Development Commission of Nigeria is a visionary piece of legislation that recognises the global importance of this mineral and seeks to position Nigeria as a key player in the clean energy value chain.

„The Bills to establish multiple Federal Institutes of Mining and Geosciences across various States— Garaku in Nasarawa State, Takum in Taraba State, Ikoro in Ekiti State, Akamkpa in Cross River State, Gusau in Zamfara State, and Umuahia in Abia State—are a testament to our commitment to building the intellectual and technical capacity required to harness our mineral wealth responsibly.

„We will also examine the Bill to establish the Nigerian Mining Development Bank, providing the necessary financial support for indigenous miners.

„Lastly, we have a Bill for an Act to establish the Nigerian Solid Mineral Communities Development Commission and the Nigerian Institute of Mining and Geosciences (Amendment) Bill, 2024, which are designed to ensure that host communities benefit from mining activities and to strengthen our existing institutions,“ Abbas stated.

In his remarks, the chairman of the House Committee on Solid Minerals, Hon. Jonathan Gaza Gbewfi, said the solid minerals sector holds enormous potential for national growth, job creation, revenue generation, and industrial development.

„Yet, for decades, this potential has remained underutilised due to outdated laws, weak institutional frameworks, and poor funding mechanisms.

„This House, through the Committee on Solid Minerals Development, is determined to reverse that trend by strengthening the legislative foundation of the sector,“ he added.