Sunday, September 8, 2024
HomeFinance$9 Billion Lost Annually to Illegal Mining in Nigeria

$9 Billion Lost Annually to Illegal Mining in Nigeria

Nigeria’s rich mineral endowment is being looted, with U.S.$9 billion lost annually to illegal 7 activities, according to the country’s House of Representatives Committee on Solid Minerals. The committee, on Monday, painted a grim picture, highlighting a stark contrast between the billions lost and the mere three percent royalty paid by the few legal miners.

“The parliament is deeply worried about the loss of revenue through unregulated and illicit mining operations,” declared Committee Chairman Hon. Jonathan Gbefwi, emphasizing the gravity of the situation.

The report goes beyond just financial losses. Chief of Defence Staff, General Christopher Musa, revealed unsettling details about the illegal mining operations.  These illicit actors, he claimed, often boast of connections with high-ranking officials.

According to the military chief, “Most of the time when we catch these foreigners, they will tell us that they have connections. I don’t want to say some things, but sometimes you hand these people over and the next thing you see, they’re released.”

Last Saturday, the Nigerian government arraigned eight Chinese nationals and one Nigerian for  “mining without lawful authority” and “obstruction of lawful mining operations.” Additionally, 387 illegal miners have been arrested within six months across the country.

—Ezinwanne Onwuka reports for TruthNigeria from Abuja.

RELATED ARTICLES
- Advertisment -spot_img

Most Popular

Recent Comments