The Speaker, House of Representatives, Rep. Abbas Tajudeen says that development of solid minerals is imperative for building a diversified, inclusive and resilient economy.

Abbas, represented by Rep. Mark Oseni, stated this while declaring open a public hearing on four bills by the House committee on Solid minerals Development in Abuja on Thursday.

He said that the bills if enacted would be a paradigm shift from over concentration on a single commodity over the years.

“For decades, our economy has been heavily reliant on a single commodity.

“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,” he said.

Abbas explained that these bills collectively addressed the key challenges and opportunities in the solid minerals sector, from legal frameworks and institutional reforms to funding mechanisms and human development.

The Speaker expressed the willingness of the House to examine the Bill to establish the Nigerian Mining Development Bank, which will provide the necessary financial support for indigenous miners.

He said: ​”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.

“These bills are designed to ensure that host communities benefit from mining activities and to strengthen our existing institutions.”

Abbas who highlighted the importance of the public hearing, said that it is not merely a procedural step; but a fundamental pillar of our democratic process.”

He described it as a vital platform for robust public engagement and for capturing a diverse range of perspectives on legislation that will shape the future of Nigeria’s solid minerals sector.

Abbas, therefore, urged the participants to engage in a constructive, open and impactful dialogue, aimed at building a vibrant and transparent mining sector for jobs creation, investment and national development goals.

Also speaking, the Chairman, House Committee on Solid minerals Development Rep.Jonathan Gbefwi, described the exercise as not just a constitutional duty, but a strategic step towards repositioning the solid minerals sector.

Gbefwi said that such is necessary to reposition the solid minerals sector as a strategic pillar in economic transformation.

According to him, the objectives of the bills include to modernise old and obsolete legal instruments such as the Nigerian Coal Corporation Act.

He reiterated the Committee’s commitment to a participatory process, saying that the success of these legislative efforts depend on how well they reflect the realities and aspirations of all stakeholders.

The four bills include, A Bill for an Act to repeal the Nigerian Coal Corporation Act and enact the Nigeria Coal Development Commission.

​A Bill for an Act to ensure adequate funding for mineral resources exploration and extraction through Public-Private Partnerships.

​A Bill to establish the Lithium Development Commission of Nigeria, a visionary piece of legislation that recognises the global importance of this mineral and seeks to position Nigeria as a key player.

​The Bills to establish multiple Federal Institutes of Mining and Geosciences across various States: Garaku in Nasarawa  State, Takum in Taraba, Ikoro in Ekiti, Akamkpa in Cross River, Gusau in Zamfara and Umuahia in Abia.