Senate considers bill seeking to establish Solid Minerals Development Bank


A bill seeking to establish the Solid Minerals Development Bank has passed second reading at the senate.

The bill was passed after Yakubu Oseni, senator representing Kogi central and sponsor of the legislation, led a debate on it today.

Oseni said the bill will help the federal government in diversifying the country’s economy and creating jobs.

Contributing to the debate, Smart Adeyemi, senator representing Kogi west, said the development of the solid mineral sector is essential in diversifying the economy.

“This is the time for us to diversify as a nation and take practical steps to enhance the development of solid minerals which is the most reliable means of galvanising the economy,” Adeyemi said.

“This is a bill that is timely and all of us should encourage it.”

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