The Local Government, State and Federal Government are losing about N131 trillion to untapped gold and other mineral resources.
A guest speaker, at a reception in honor of the Caretaker Committee Chairman of Kurmi Local Government Council, Taraba State, Hon. Stephen Ibrahim Agya, Justice Silas Haruna disclose this in Jalingo while delivering a paper title: “The Need to Harness the Abundant Natural Resources in Kurmi Local Government Area for Development and self Reliance”.
He said Nigeria is estimated to be losing N81 trillion from untapped gold alone. He stated that the estimates should have accrued to the Federal Account from royalties, Taxes, Charges and other fees from companies and individuals operating in the solid manual sector only if the federal government had enough attention to development of solid minerals in the country.
He disclose that Nigeria should not have had any financial crises anytime crude oil price fall south ward when there are natural resources which could have been tapped for the benefit of the Country, adding that Local Government and State would have been well off financially and would not have been talking about bail out.
He pointed out that Kurmi Local Government Area has untapped resources which include sapphire, Ruby, Aquamarine, Emerald, Tournament Topaz, Bentonite, Amethyst, Zirlon and Bantes, but the problem of these abundant natural resources is compounded by corruption and incoherent exploration.
