The Nigerian Solid Minerals Development Fund (SMDF) has stated that the reports recently carried by a section of the media that the Fund was involved in the sponsorship of the 2015 elections and the African Cup of Nations were unfounded and misleading in there entirety.
Solid Mineral Development Fund an agency under the Ministry of Solid Minerals, on the other hand, was established in 2007 by Section 34 of the Nigerian Minerals and Mining Act of 2007 and became operationalized during the administration of President Muhammadu Buhari Administration in 2015 with the inauguration of the board of SMDF.
However reports published in some dailies recently indicated that out of the resources made available to it between 2013 and 2014, N738.7 billion and $3 million respectively “had been illegally disbursed from the fund for extraneous expenses, including the 2015 elections, the African Nations Cup” as well as roads and drainage rehabilitation in some states.
Speaking to newsmen on the sidelines of the Presentation and Unveiling of the 2021 Nigerian Extractive Industries Transparency Initiative’s, NEITI’s, Solid Minerals Industry Report in Abuja on Monday, the Executive Secretary, ES, Hajiya Fatima Shinkafi, said she herself was surprise because the report was even news to her.
Dismissing the reports erroneous reportage, Shinkafi said the SMDF never funded the African Cup of Nation or election as claimed, and could not have done so because the agency was just capitalised barely a year ago since it was set up.
She said: “This is news to me. I liked football. I like football. But I’ve never funded the African Cup of Nations. I’ve never funded that any of those things. I think it was a committee report they were quoting. The functions of the Solid Minerals Development Fund is totally different from that of Natural Resource Development Fund (NRDF). I can understand how the two can be mistaken for each other. But we are not that fund and we have never ever funded anything like the African Cup of Nations.
“As a matter of fact, the first time ever, that the fund has been capitalised was last year around May. So we didn’t even have capital at the time, hence it wouldn’t have been us,” Shinkafi explained.
According to the SMDF boss, “even if there were any abuse of the NRDF, they must have been before the immediate past and current administrations.”
Speaking to the 7-point agenda unveiled on Sunday in Abuja with a target of 50% GDP increase by the Minister of Solid Minerals, Dele Alake, Shinkafi said it is a tall order challenging all stakeholders in the sector to put their hands on the plough and step up their game for the development of the sector towards achieving the mandate.
Her words: “And I think that when you set the bar high, you go for the highest possibility and achievement. Now, definitely, more can be done than is currently contributed to GDP from the sector. And I think with the measures that are in place now, we can make it even if it’s not 100 per cent.”
On the possibility of the establishment of a state owned company as proposed by the Minister conflicting in role with the SMDF, the ES said there is nothing conflicting in their roles.
“We are actually very excited about that announcement. The equivalent of your question is: Does the PTDF conflict with NNPC? It doesn’t. We have distinct roles and mandates, and we will actually reinforce and support that cooperation,” she said.