Speaker of the House of Representatives, Abbas Tajudeen, said on Thursday that the development of Nigeria’s solid minerals sector was essential for building a diversified and resilient economy.

Abbas, represented by lawmaker Mark Oseni, made the remark while declaring open a public hearing in Abuja on four proposed laws before the House Committee on Solid Minerals Development.

He said the bills, if enacted, would represent a paradigm shift from decades of dependence on a single commodity, paving the way for a more inclusive and sustainable economic model.

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

The Speaker noted that the bills collectively addressed key gaps in the industry, including legal reforms, institutional restructuring, financing and human capital development.

Among them is a proposal to establish the Nigerian Mining Development Bank, aimed at providing much-needed funding for indigenous miners. Another bill seeks to create a Nigerian Solid Mineral Communities Development Commission, while a third proposes amendments to the Nigerian Institute of Mining and Geosciences Act.

“These bills are designed to ensure that host communities benefit from mining activities and to strengthen our existing institutions,” Abbas said. He added that the public hearing was not just a procedural step but a crucial forum for citizen participation in shaping legislation.

Committee Chairman Jonathan Gbefwi said the exercise was more than a constitutional duty, describing it as a strategic effort to reposition the solid minerals sector as a pillar of economic transformation.

He stressed that the bills were intended to modernise outdated laws such as the Nigerian Coal Corporation Act. The legislative package also includes proposals to establish a Nigeria Coal Development Commission, a Lithium Development Commission, and new Federal Institutes of Mining and Geosciences in several states.

Gbefwi reaffirmed the committee’s commitment to a participatory process, saying the reforms would only succeed if they reflected the realities and aspirations of all stakeholders.