The Social Democratic Party (SDP) presidential candidate in the 2023 elections, Prince Adewole Adebayo, has raised alarm over the scale of illegal mining in Nigeria, claiming that the losses surpass the country’s entire budget. Adebayo made this assertion during his appearance on Channels Television’s Politics Today on Sunday.
Nigeria has faced decades of rampant illegal mining activities, particularly in Zamfara State’s Bukkuyum and Anka local government areas. These activities have significantly impacted the nation’s economy, with substantial losses reported annually.
In July 2024, Jonathan Gbefwi, Chairman of the House of Representatives Committee on Solid Minerals, revealed that illegal mining costs Nigeria approximately $9 billion annually. Gbefwi further noted that only a meager three percent of royalties are paid into government coffers by licensed miners.
During the televised interview, Adebayo underscored the persistent “leakages” in the solid minerals sector, describing them as a major hemorrhage to the nation’s economy. He questioned the performance of the Minister of Solid Minerals, Dele Alake, in addressing the issue.
“Did you notice that Dele Alake has been quiet recently?” Adebayo asked. “He needs to tell us how he has improved the revenue from solid minerals. What he managed to do was raise tariffs on licences and miners and create some regulatory pushbacks. However, illegal mining is still thriving.”
Adebayo went further to highlight the alarming scope of the problem, stating, “The amount of money stolen from illegal mining across states like Zamfara, Osun, Ebonyi, and Nasarawa far exceeds the current national budget.”
Nigeria’s solid minerals sector has long been plagued by inefficiencies and corruption, leading to widespread concerns over lost revenue. The issue of illegal mining remains a pressing challenge, with stakeholders calling for stricter enforcement, improved regulation, and greater accountability to protect the nation’s resources.
The debate continues as Nigerians await concrete actions to address the crisis and maximize the potential of the country’s solid mineral wealth.