From Charity Nwakaudu, Abuja
Vice President, Prof. Yemi Osinbajo, has stated that it is time to revive the country’s mineral endowments which have been left untapped for decades, adding that the mineral deposits if properly managed can ensure that no Nigerian is unemployed.
Osinbajo while speaking at the Ministry of Mines and Steel Development’s maiden edition of the strategic engagement on sustainable mining with state governors and other critical stakeholders in Abuja, on Thursday, stressed that it is only synergy among the the state governors, communities that can revive the country’s mining sector.
The Vice President challenged the local government authorities to work closely with the Ministry through Nigerian Geological Survey Agency for full appreciation of the mineral endowments in their area and develop cottage mines to exploit the minerals identified in each local government with the mindset of job creation.
He said: “It is very delighting to note that available reports from the Nigerian Geological Survey Agency (NGSA) confirms that Nigeria is endowed with over 44 mineral deposits occurring in commercial quantities in over 500 locations across the 36 States and Federal Capital Territory of Nigeria.
“Accordingly, it can be reasonably inferred that every Local Government Area (LGA) of the country is endowed with one or more mineral resources that can be harnessed for the development of the area and the country at large.
“The value chain of these mineral resources remains largely untapped and as such they are not readily available for sustainable economic development of the country, more so that the mining industry is dominated by over 90 per cent artisanal operators.
“It was on the aforesaid premise that the President Muhammadu Buhari led administration decided to anchor his administration’s diversification agenda on two key sectors, mining and agriculture.”
He suggested that the Ministry should lead the efforts for improved communication and information sharing among the tiers of government especially on the provisions of the Minerals & Mining Act, 2007 and its ancillary regulations of 2011.
Minister of Mines and Steel Development, Olamilekan Adegbite, in his remarks, stated that the ministry was building two gold refineries in the country to increase the value of gold for the benefit of stakeholders.
Adegbite added that gold miners would be linked to formal markets through licensed precious metal buying centres.
He explained: “Through the ongoing Presidential Artisanal Gold Mining Initiative (PAGMI), we are organising, formalising, and equipping artisanal and small gold miners in Kaduna, Kebbi, Osun, Niger, Ebonyi, Sokoto, Gombe, and Ekiti.
“Miners of gold and other metals would be linked to formal markets through licensed precious metals buying centres. One of such initiatives was the recently launched Dukia-Heritage Bank buying centre.
“Two gold refineries, Kian Smith and Dukia Gold and Precious Metals Refining Company Limited, are currently being built to increase the value of gold in the country for the benefit of all stakeholders.”