Minister Dele Alake Advocates for 250 Billion Budget, Deeming 25 Billion Allocated Insufficient

Dele Alake, minister of solid minerals development, says N24 billion allocated to the ministry by the budget office is grossly insufficient, we need nothing less than N250 billion for exploration alone.

Alake spoke on Tuesday when he appeared before the house of representatives committee on solid minerals to defend the ministry’s 2024 budget estimate.

The minister sought the support of the committee for increased funding to meet the objectives of the ministry.

He stressed that the ministry cannot give investors the power of exploration because they would shortchange the government.

We need a lot of funding in exploration to generate geoscientific data. We cannot leave the business of exploration in the hands of the private sector.

Dele Alake added that powerful Nigerians are behind illegal mining in the country, accusing those behind illegal mining of sponsoring banditry.

The minister said as part of his seven-point agenda, he gave an ultimatum to petty illegal miners to join cooperatives and be registered to be recognised by the government.

Alake said when the illegal miners are registered, the government can identify them and derive the necessary royalties and taxes.

The minister said the royalties and taxes were lost because the government could not be chasing individual miners all over the place.