SMDF Denies Alleged Sponsorship Of Elections, Cup Of Nations

The Nigerian Solid Minerals Development Fund, SMDF, has described reports in the media that the Fund was involved in the sponsorship of the 2015 elections and the African Cup of Nations as unfounded and misleading.

Executive Secretary of SMDF, Hajiya Fatima Shinkafi stated this at the Presentation and Unveiling of the 2021 Nigerian Extractive Industries Transparency Initiative, NEITI’s, Solid Minerals Industry Report

in Abuja.

Hajiya Fatima stressed that the SMDF has never funded the African Cup of Nations or elections as claimed, and could not have done so because the agency was just capitalised barely a year ago since it was set up.

“This is news to me. I like football, But I’ve never funded the African Cup of Nations. 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” she added.

According to her SMDF was established in 2007 to pursue investments that would de-risk the Nigerian mining sector to attract investors and boost the economic development and diversification of the Nigerian economy.

“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.

“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” Hajia Shinkafi stated.

Speaking on the 7-point agenda unveiled by the Minister of Solid Minerals, Dele Alake to boost the nation’s GDP by 50% she described it as a tall order challenging all stakeholders in the sector to put their hands on deck and step up their game for the development of the sector towards achieving its mandate.

“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 the 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,” she said.

Hajia Fatima further commended NEITI for the presentation of the report which she described as timely while urging the public and private sector to come up with informed policies for implementation towards increased revenue for the sector and the economy in general.

Georgina Humphrey, Edited By Grace Namiji