Nigeria In One Minute
FG In Talks With China, South Africa To Curb $500m Losses To Illegal Mining
As part of efforts to curb the lingering problem of illegal mining in Nigeria, which the country is said to be losing $500million from, the federal government has hinted that efforts are ongoing to partner with China, South Africa and other mining countries to resolve the issue.
In an exclusive chat with LEADERSHIP, the Minister of State for Mines and Steel Development, Abubakar Bawa Bwari said Nigeria is in talks with these countries to establish bankable data.
He noted that it was difficult for Nigeria to have bankable data of its minerals because it is very costly to go into it as it requires modern technology. Although he said it is difficult to arrive at a specific figure of what the nation is losing to the problem of illegal mining, he agreed that the nation is losing billions of dollars to the activities of illegal miners.
He said: “While it is difficult to state exactly how much the economy is losing as a result of the absence of bankable data, with the little information we have we are talking in billions of dollars”.
He noted that it was difficult for Nigeria to have bankable data of its minerals because “it is very costly to go into as it requires Modern technology. On the issue of bankable data, we cannot say we have that kind of data, we do not have enough that can really attract the kind of investment that will place Nigeria as a mining nation. Right now what we have are only indicative, but not enough”
Leadership, March 24, 2017
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