Nigeria’s Mining Sector Set for Forensic Audit Amid Reforms

In a move aimed at sanitizing the industry and boosting investor confidence, Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, has hinted at an impending forensic audit of the mining sector. The announcement was made during a meeting with Plateau State Governor Caleb Mutfwang on Wednesday at the ministry headquarters in Abuja.

According to a statement by the Special Assistant on Media to the Minister, Segun Tomori, the forensic audit will be conducted in collaboration with the Ministry of Science and Technology on satellite imaging, as directed by President Muhammadu Buhari. The audit aims to monitor activities at mining sites and bolster the capacity to effectively secure the mining environment.

The ongoing reforms in the sector will also lead to the implementation of technology-driven mechanisms aimed at enhancing the regulatory framework of the federal government. Alake emphasized that the reforms will enable the effective monitoring of mining sites, which will, in turn, boost the nation’s Gross Domestic Product.

The minister highlighted the importance of Plateau State in the Federal Government’s plan to develop the mining sector. He sought collaboration with Governor Mutfwang to harness the vast solid mineral potential and address the prevalence of abandoned mining pits, which he noted represent relics of the colonial era.

To achieve this, Alake announced plans to create an Environmental Protection and Rehabilitation Fund to establish a pool of resources for remediation efforts. The fund will be used to cover or convert abandoned pits, which pose a danger to citizens and communities, into productive uses like irrigation.

Governor Mutfwang commended the minister’s zeal and enthusiasm since assuming office and expressed optimism that Nigeria will unlock the vast potential of solid minerals under Alake’s leadership. The governor also advocated for an improved regulatory framework, up-to-date data in the mining sector, and federal support to address the issue of abandoned mining pits in the state.

The partnership between the ministry and the state government aims to leverage the Federal Government’s ecological funds to remedy abandoned sites, which is vital for health and holds potential economic value.