A study facility to develop a roadmap on Nigeria’s critical value chain from extraction to beneficiation to be funded by the Global Council for Critical Minerals is one of the low hanging fruits secured by Solid Minerals Development Minister Dr. Dele Alake on the sidelines of the ongoing annual Mining Indaba holding in Cape Town, South Africa.

The Global Council for Critical Minerals is a specialised organ of the Sustainable Energy for All, a United Nations Agency setup to implement the Agenda for Sustainable Development.

The study, to be carried out by UC Davis and supported by Core International, will examine the country’s critical minerals’ resource and reserve and set international best practices for value development to ensure that it contributes to value addition to grow the economy.

One of the expected benefits is the development of an industrial sector for the local production of solar power and foreign exchange savings from the reduction of imports of solar power products.

Exchanging views with the Principal Specialist, Renewable Energy, Sustainable energy for All, Mr. Divyam Nagpal, Dr. Alake thanked the UN agency for the gesture, saying it would enrich the development of Nigeria’s policy on solar power.

His words: “Since we have the materials for the production of solar power, we should vigorously pursue the policy of stopping the importation of solar power products and localise the production in Nigeria. We have a large market. Already, a lot of the products in Nigeria service the West African sub-region. So whatever material we are producing or manufacturing has a ready West African market.”

Alake reviewed steps taken by the administration of President Bola Tinubu in the mining sector since assumption of office assuring the UN agency that the investment climate is positive and friendly.

“We are putting in place a new security architecture that will ensure, not just the safety of the investor but also the protection of the mining environment. We also had to re-draw the Community Development Agreement to ensure that the local populace benefit maximally from these developments, so that at the end of the day, it is a win-win for the investor, the populace and the State.” He said.

Alake noted that if investors have unfettered environment to operate, their profit margin will increase, and they will pay their royalties and discharge their obligations to the government.

Briefing the Minister earlier, Mr. Nagpal said the critical minerals’ roadmap of Nigeria will support the country’s policy formulation process and aid the development of the critical minerals sub-sector. He invited the Minister to this year’s Sustainable Energy for All Programme in Barbados with the theme, Sustainable Energy for Equity, Security and Prosperity.

The event is considered the pivotal gathering for leaders from government, business, finance, and communities to stimulate investment and tackle the inter-connected challenges of energy, climate, and development.

…as Akpabio assures budget passage before February ends

President Bola Ahmed Tinubu has officially notified the Senate of an increase in the proposed 2025 Appropriation Bill from N49.7 trillion to N54.2 trillion, following the discovery of an additional N4.53 trillion in revenue.

The President communicated this adjustment in separate letters to both chambers of the National Assembly. It was read during plenary by Senate President Godswill Akpabio on Wednesday.

The increase, he explained, was due to additional revenues generated by the Federal Inland Revenue Service (FIRS) (N1.4 trillion), Nigeria Customs Service (NCS) (N1.2 trillion), and other Government-Owned Enterprises (GOEs) (N1.8 trillion).

Ruling on the matter, Akpabio referred the letter to the Senate Committee on Appropriations and directed them to expedite the necessary adjustments to the budget, which is currently under review. He assured that the budget would be passed before the end of February to ensure smooth government operations.

A breakdown of the proposal shows N4.53 trillion to key sectors to drive economic diversification, infrastructure development, and national security. Solid Minerals sector was allocated N1 trillion “to unlock Nigeria’s vast mineral resources, reduce reliance on oil, and create alternative revenue streams.”

Bank of Agriculture Recapitalisation got N1.5 trillion to enhance food security, empower smallholder farmers, and promote agro-industrial value chains while Bank of Industry Recapitalisation got N500 billion to support small and medium enterprises (SMEs), boost local manufacturing, and reduce import dependence.

Infrastructure Development got N1.5 trillion while Irrigation Development (N380 billion) to support year-round farming and ensure water security.

For transportation Infrastructure, N700 billion was allocated, including N300 billion for roads and N400 billion for urban rail networks. Border Communities Infrastructure got N50 Billion) to enhance security and foster economic development.

On security, Military Barracks Accommodation was allocated N250 billion) to improve housing for security personnel, while Military Aviation was proposed N120 Billion) to modernise Nigeria’s military air capabilities.

President Tinubu justified the allocations to the military, stating that no.progress can be made without security. He emphasised that investing in the armed forces was a moral and economic necessity as national security remains the foundation of economic stability and development.

He urged the National Assembly to.adopt and integrate the revised budget proposal, reaffirming his administration’s commitment to inclusive growth, economic diversification and national security.

Daily Sun

The Peoples Democratic Party, PDP, Board of Trustees, BoT, is currently holding an emergency meeting.

The meeting was called to find lasting solutions to the current leadership crisis bedeviling the party.

Those who have arrived include the BoT Chairman, Senator Adolphus Wabara; Secretary of the BoT, Senator Ahmed Makarfi; and former Governors Achike Udenwa, Sam Egwu, Babangida Aliyu, Senator Ben Obi, and Chief Olagunsoye Oyinlola, among others.

The meeting is holding amid the crisis surrounding the struggle for who occupies the position of the PDP National Secretary.

Last week, at the PDP national secretariat, a fight broke out between Samuel Anyanwu and Sunday Ude-Okoye during its BoT meeting.

The crisis between the duo started when Anyanwu left to contest for Imo State governorship election and Ude-Okoye was was selected by the Southeast arm of the party to replace him.

This led to a lawsuit, after which the Court of Appeal sitting in Enugu declared Ude-Okoye as the substantive National Secretary.

But Anyanwu said Ude-Okoye has no authority to assume the position, despite the ruling.

Anyanwu cited his appeal of the ruling at the Supreme Court as grounds for maintaining the status quo