The Federal Government under President Bola Ahmed Tinubu has said that it will no longer tolerate any form of illegal mining and exploitation of mineral resources in the country according to a TVC News report.
Nigeria’s Minister of Solid Minerals, Dele Alake made this statement on August 31 at the graduation ceremony of some trained individuals under the Gemstone Jewelry Program in Abuja, one of the ministry’s skill acquisition initiatives.
According to Alake, solid minerals are Nigeria’s next petroleum and must be properly harnessed with added value for economic growth.
While addressing the media at the event, the Honorable Minister, Dele Alake said:
- “Illegal mining practice has been going on for ages, in fact, since before independence, that is what we have discovered.
- “However, it must stop and that’s why I gave that stern warning and I mean it and that is the message of the president. It is not just sermonization, we are putting in place very concrete and enduring steps and strategies to combat this menace.”
Note that Nigeria has deposits of about 44 solid minerals and illegal mining is rife in Zamfara, Katsina, Kaduna, and several other states in Nigeria’s Northwest region.
The NEITI Context
In May 2023, the Nigerian Extractives Industries Transparency Initiative (NEITI) launched a strategic plan for 2022–2026 aimed at promoting investments, transparency, and capacity building in the solid minerals sector.
According to NEITI, Nigeria made only $1.4 billion from solid minerals in 13 years. NEITI’s Executive Secretary, Dr. Ogbonnaya Orji said the solid minerals sector has huge potential and could become an important contributor to Nigeria’s GDP.
Dr. Orji has projected that if the solid mineral sector is thrown open for investment, it has the potential to contribute over 60% to the nation’s gross domestic product (GDP). At 60% of Nigeria’s GDP, that would mean outperforming oil.
Way back in May 2023, Dr. Orji said:
- “So far, NEITI has conducted and published eleven (11) cycles of audits in the solid minerals sector, spanning the years 2007 – 2020. From the NEITI reports, a total of N624.1 billion was recorded as revenue that has accrued to the government from the sector over a 13-year period, which in today’s exchange rate amounts to about $1.4 billion compared to the enormous $394 billion earned in the oil and gas sector in just 10 years.
- “This shows negligence to the enormous potential in the solid minerals sector. NEITI, in line with its mandate, encourages disclosures of payments accrued to the government to build trust among the stakeholders and promote transparency and accountability in the management of solid mineral resources.”
