Nigeria Loses $9billion To Illegal Mining In Two Years

share on:
The Federal Government of Nigeria has said that it has lost about $9 billion to the export of proceeds of illegal mining activities between 2014 and 2015.

The Federal Government of Nigeria has said that it has lost about $9 billion to the export of proceeds of illegal mining activities between 2014 and 2015.

The Minister of Mines and Steel Development, Kayode Fayemi, who addressed State House reporters after the cabinet meeting, quoted a report released by the Nigerian Extractive Industry Transparency Initiative (NEIT) as saying this.

He said the loss was recorded mainly from the illegal export of gold, lead, tin, and coal.

The minister added that if Nigeria could stop the spate of illegal activities by Nigerians and their foreign collaborators, the revenue from the sector would significantly improve.

Fayemi also said the Federal Executive Council approved N987m for the procurement of 50 Hilux vehicles to enable the special mines taskforce to monitor and curb illegal mining activities in all the 36 states of the federation and the Federal Capital Territory.

He said each vehicle would be purchased for N19.3 million.

He said: “The Special Mines Surveillance Task Force is made up of all security agencies. The DSS,  the Police, the Civil Defence, EFCC and the National Security Adviser’s Office.

“You may be aware that over the course of last year, the police have established Mines Police and we now have a Commissioner of Police in-charge of Mines Police. We have a Commandant from the Civil Defence also exclusively deployed for mines activities.

“If we can stop the spate of illegal activities, not just by Nigerians but by Nigerians in collaboration with some foreigners, we will significantly improve the revenue that comes from that sector, increase the contributions to GDP,  increase the royalty to government and also provide more jobs for our people.”

The minister said another effort towards reducing illegal and informal activities was the formalisation of small scale miners and artisan miners.

Datboyjerry

Datboyjerry

I am but your herald boy in the art of the pen.. An eccentric Environmental Biologist smouldered in the glorious epiphany of online journalism. If you ever find my article unduly insipid, sue me and i’ll refund you...

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.