The Nigerian Senate has asked the executive arm of government to investigate the alleged annual revenue loss of $9billion to illegal mining and smuggling of gold in parts of the country.
It particularly urged the Nigerian Government to intensify efforts to combat illegal mining and block all revenue leakages from such clandestine activities while establishing gold mining farms to assist artisans and miners.
The Senate, in its resolutions sequel to a motion sponsored by the Senate Chief Whip and former Abia State Governor, Senator Orji Uzor Kalu, also mandated its Committee on Solid Minerals, Mines, Steel Development and Metallurgy to investigate all illegal mining and revenue leakages associated with such activities.
Presenting the motion, Senator Kalu, noted that; “Nigeria lost close to $54billion from 2012-2018 due to illegal smuggling of gold”, stressing that “the country is said to be losing about $9billion yearly to illegal mining and gold exportation, a huge amount of money unaccounted for through under the radar sales of the expensive commodity.”
The Abia North Senator said that “the activities of unlicensed miners were becoming prevalent within the industry and the incessant smuggling of solid minerals out of the country by middlemen and smugglers, is leading to loss of government revenue.”
According to him, gold mining operations in the country is capable of providing over 250, 000 jobs and $500m revenue annually to the Nigerian government, saying it would further help in diversifying the nation’s economy and improve its foreign exchange reserve.
“Given our current estimated gold reserves of over 200m ounces, most of which have not been exploited, developing sustainable programmes that will catalyse increased investment in the extraction and refining of gold sourced from mines in Nigeria, is indeed vital,” he said.
Senator Kalu recalled that Section 44(3) of the Nigerian Minerals and Mining Law of 1999 provides that ownership and control of all minerals is vested in the federal government, which is mandated to manage such natural resources in a manner as may be prescribed by the National Assembly.
Mercy Chukwudiebere
