Economic Diversification: Reps consider 12 bills to reposition solid minerals sector

The Speaker of the House of Representatives, Abbas Tajudeen, has described the solid minerals sector as a critical driver of economic diversification, stressing that Nigeria must reduce its dependence on oil revenues.

Join the Premium Times WhatsApp Community For Quick Access To News and Happenings Around You.

Open in WhatsApp

Speaking at a public hearing on 12 bills seeking to develop the solid minerals sector, held on Thursday, Mr Tajudeen, represented by Mark Oseni (APC, Taraba), said developing the sector is not an option but an imperative for building a resilient and inclusive economy.

He noted that the hearing was not a routine exercise but a key part of the democratic process, providing a platform for robust public participation and diverse perspectives on legislation that would shape the future of Nigeria’s mineral resources.

“As we look towards building a diversified, resilient, and inclusive economy, the development of our solid minerals sector is not just an option—it is an imperative. These bills collectively address the key challenges and opportunities in this sector, from legal frameworks and institutional reforms to funding mechanisms and human capital development,” he said.

Mr Tajudeen added that the bills represent a strategic shift in the national economic agenda and demonstrate the House’s commitment to strengthening the intellectual and technical capacity needed to harness mineral wealth responsibly.

He urged stakeholders to make meaningful contributions, saying the success of the legislative efforts depends on the quality of input received.

The Chairperson of the House Committee on Solid Minerals, Gaza Gbewfi, said the initiative was both a constitutional responsibility and a strategic step toward repositioning the sector as a true pillar of Nigeria’s economic transformation.

Stay Ahead with Premium Times

Add as a preferred source on Google

He noted that the solid minerals sector holds vast potential for job creation, revenue generation, and industrial development, but has suffered decades of neglect due to outdated laws, weak institutions, and poor funding.

“This House, through the Committee on Solid Minerals Development, is determined to reverse that trend by strengthening the legislative foundation of the sector,” Mr Gbewfi said.

He added that the hearing was designed to encourage input from government agencies, industry players, community representatives, academia, and civil society, stressing that only a participatory process would ensure that the laws reflect the realities and aspirations of all stakeholders.

The 12 bills for which the hearing was conducted are:

1. A bill for an act to repeal the Nigerian Coal Corporation Act, Cap. 95, Laws of the Federation of Nigeria, 2004, and enact the Nigeria Coal Development Commission Enugu and for related matters (HB.667).

2. A bill for an act to assure adequate funding for mineral resources exploration and extraction through public-private partnership (PPP) and for related matters (HB.289).

3. A bill for an act to establish Lithium Development Commission of Nigeria to provide a legal framework for the promotion of research study, investment, exploration, production of lithium, develop a vertically integrated lithium industry, create a roadmap for developing the infrastructure required by potential lithium mines in Nigeria, and design the regulatory framework governing the sector in Nigeria, and for related matters (HB.2137).

4. A bill for an act to establish the Federal Institute of Mining and Geosciences, Takum, Taraba State, to provide courses of instruction, training, and research in the exploration and exploitation of minerals for national development, and for related matters (HB.2361).

5. A bill for an act to establish the Federal Institute of Mining and Geosciences, Ikoro, Ekiti State, to provide courses of instruction, training, and research in the exploration and exploitation of minerals for national development, and for related matters (HB.2364)

6. A bill for an act to establish the Federal Institute of Mining and Geosciences, Garaku, Nasarawa State, to provide courses of instruction, training, and research in the exploration and exploitation of minerals for national development, and for related matters.

7. A bill for an act to establish the Nigerian Mining Development Bank (NMDB) to provide financial support, promote investment, and foster sustainable development in the mining sector of Nigeria, and for related matters (HB.808)

8. A bill for an act to establish the Federal Institute of Mining and Geosciences, Akmpakpa, Cross River State, to provide courses of instruction, training, and research in the exploration and exploitation of minerals for national development, and for related matters.

9. A bill for an act to establish the Federal Institute of Mining and Geosciences, Gusau, Zamfara State, to provide courses of instruction, training, and research in the exploration and exploitation of minerals for national development, and for related matters.

READ ALSO: Delta govt bans bushy beards, artificial hair, long eyelashes, fake nails in civil service

A bill for an act to establish the Federal Institute of Mining and Geosciences, Umuahia, Abia State, to provide courses of instruction, training, and research in the exploration and exploitation of minerals for national development, and for related matters.

A bill for an act to establish the Nigerian Solid Mineral Communities Development Commission and related matters.

Nigerian Institute of Mining and Geosciences Act (Amendment) Bill, 2024.