Reps back policies to facilitate investments in gold mining
The House of Representatives on Tuesday implored the Federal Government to facilitate interaction between mining employers, examine mining policy issues and create partnerships with key stakeholders.
This House members canvassed is to enable the government come up with modern policies, legislative and functional environment to facilitate real investments in gold mining.
This followed the unanimous adoption of a motion moved by Rep. Oghene Egoh (PDP/Lagos) during plenary presided over by Deputy Speaker Idris Wase on Tuesday.
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The motion was tagged, “Need to prioritise gold mining as one of the major earners of revenue to the nation.”
Presenting the motion, Rep. Egoh recalled that the Federal Government banned all mining activities in Zamfara State on April 7.
He said the government also directed all foreigners operating in the mining fields to leave within 48 hours and threatened to revoke the licence of any defiant mining operator.
The lawmaker said that Nigeria has about 21.40 tonnes of gold deposits, adding that “therefore there is the need for many large scale gold mining companies, gold mining policies, state-of-the-art geological survey.
“This includes map production and maintenance of up to date geological records; health and safety inspections and maintenance records; legal records of licences and legal examination of new applications, among others.”
The House member said, according to reports, Nigeria loses $9 billion to illegal mining every year and many lives are lost due to mining activities that ignored environmental protection policies.
He said that official records showed that mining in Nigeria, however, accounted for 0.3 per cent of the country’s Gross Domestic Product (GDP).
He emphasised that the poor records meant that “the Federal Government may not have official records of the amount of mineral deposits in Nigeria, which if ascertained, could make the mineral sector one of the largest contributors to government’s revenues through the payment of royalties, employees income taxes and corporate taxes.”
The House expressed concern that illegal miners cart away billions of dollars’ worth of gold yearly, leaving Zamfara State “with poor state of education and inadequate healthcare system.”
Consequently, it resolved that 30 per cent derivation from gold earnings would positively boost the economy of the state if the resources were effectively managed by the government, while the remaining 70 per cent goes into the federation account.
The House also urged the Federal Ministry of Mines and Steel Development to provide geological records of gold deposits in Nigeria and further directed the House Committee on Solid Minerals Development to ensure compliance.
