The Federal Government, on Thursday, warned against illegal mining activities disrupting Nigeria’s $700 billion industry.
According to NAN, the Permanent Secretary, Ministry of Mines and Steel Development, Dr Mary Ogbe, made this known while inaugurating the new National Executive Council of the Miners Association of Nigeria (MAN) in Abuja.
Ogbe, represented by Deputy Director Mr Okhuoya Sunday, expressed concern over local industries which depend on imported minerals, as their raw materials, despite the availability of such minerals in the country.
She said that some minerals were exported raw to Asian and European countries at ridiculous prices without value, adding that such practice has added to the unemployment rate in the country.
“I seize this opportunity to draw your attention to the disheartening practices of some members of your association who interfere with the mandates of the ministry.
“Some of your members prefer to indulge in illegal mining activities instead of being partners in progress to develop the sector.
“This attitude has hindered the sector’s sustainable development and constituted huge revenue losses”, she stated.
According to the Solid Minerals Development Fund (SMDF), Nigeria’s mining sector, with 44 commercially viable minerals, is worth $700 billion.
The sector generated over N7 billion in revenue from royalties and fees in 2022 from N2 billion seven years ago.
