Nigeria Loses N4trn Annually to Illegal Mining –Senate

Posted by African Examiner Featured, Latest Headlines, News Friday, November 20th, 2015

Ayodele Afolabi, Abuja

BALTIMORE, MD (AFRICAN EXAMINER) – The Senate has expressed concern over what it called illegal plundering of the nation’s solid minerals by local and foreign miners which it said was recently confirmed by the permanent secretary of the federal Ministry of Solid Minerals while briefing President Muhammadu Buhari.

The sponsor of the motion, Senator Duro Faseyi (PDP Ekiti North), said illegal mining in Nigeria robs the nation of whooping N8 trillion every two years.

He blamed the menace on weak legislation and poor enforcement of existing laws adding that the situation militates against diversification of the economy from dependence on oil to exploration of solid minerals especially in the face of dwindling oil price in the global market.

While lamenting that the federal government seems helpless over the matter, Faseyi said illegal mining had devastated the nation’s economy, polluted the environment and resulting in the death of many Nigerians.

The Senate therefore directed security agencies especially the IGP to address the activities of miners. It also urged the executive bodies at the federal, state and local government levels to take concrete steps towards ending illegal mining in Nigeria.