Economic Diversification At Risk: NASS Rejects Slashed Mining Budget

Economic Diversification At Risk: NASS Rejects Slashed Mining Budget

The National Assembly’s Joint Committee has rejected the Ministry of Solid Minerals’ 2025 budget proposal, citing a drastic reduction in capital expenditure…READ MORE…

The proposed ₦9 billion allocation, slashed from ₦531 billion, was labeled grossly inadequate to position solid minerals as a cornerstone for economic diversification.

Senator Ekong Sampson, Committee Chairman, expressed concerns over missed opportunities for green energy transitions due to insufficient investment.

House Committee Co-Chairman Gaza Gbefwi condemned the cuts as detrimental to Nigeria’s revenue diversification beyond oil.

Minister Dele Alake decried the reduction, urging a budget review to attract global mining investments and advance the sector’s development.

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