The Minister of Solid Minerals, Dele Alake, has alleged that some bigwigs in the country who are involved in illegal mining, are the major sponsors of banditry and terrorism in the country.
The minister who revealed this while appearing before the House of Representatives Committee on Solid Minerals for the 2024 budget defence said, the ministry is identifying them, and will ensure they are brought to book.
According to reports, Nigeria’s mining sector has the potential of raking in an estimated $700bn in commercially viable minerals, however, there are
several threats holding the sector back.
The minister of solid minerals has also identified insecurity as a major factor.
The minister noted that the ministry is working in collaboration with security agencies, to establish a security architecture, that will involve artificial intelligence, as well as mine police.
MUST READ: Chief Of Air Staff, Air Marshal Abubakar In Enugu, Harps On Holistic Approach To Addressing Insecurity
“The challenge is not only that of insecurity, the ministry still has to battle with the paltry sum allocated to them,” the minister said.
The minister said if the country is serious about economic diversification, the ministry would need 250 billion Naira for exploration alone.
The sum of 29 billion Naira has been allocated to the Ministry of Solid Minerals for 2024, which the minister says is a non-starter if Nigeria must truly diversify its economy.
(Editor: Ifeanyi Mark)
