By Abigail Philip David
Former Social Democratic Party (SDP) presidential candidate, Prince Adewole Adebayo, has raised concerns that Nigeria is losing more revenue to illegal mining than the country’s entire national budget.
Speaking on Channels Television’s *Politics Today* on Sunday, Adebayo warned that illegal mining is causing severe financial losses and worsening economic challenges in the country.
Nigeria has struggled with rampant illegal mining, particularly in Bukkuyum and Anka local government areas of Zamfara State, over the past two decades. In July 2024, Jonathan Gbefwi, Chairman of the House of Representatives Committee on Solid Minerals, revealed that illegal mining drains about $9 billion from the Nigerian economy annually. He also criticized the fact that only 3% of royalties from licensed miners are paid into government accounts.
Echoing these concerns, Adebayo stressed the urgent need for accountability in the solid minerals sector. He questioned the silence of the Minister of Solid Minerals, Dele Alake, on measures taken to improve revenue generation from the sector.
“Have you noticed that Dele Alake has been quiet recently? He must explain how he has increased revenue from solid minerals,” Adebayo stated. “So far, his efforts have been limited to raising licence fees and creating regulatory barriers, but illegal mining continues unchecked.”
He further alleged that the revenue lost to illegal mining across states like Zamfara, Osun, Ebonyi, and Nasarawa far exceeds the government’s current budget.
Adebayo’s comments highlight growing public frustration over the government’s inability to curb illegal mining, which continues to deprive Nigeria of critical resources needed for national development.
