The Think Tank on Nigeria (TTON) organization has urged the federal government to pay more attention to recovery of gold assets in the mining sector by implementing transparent national and international bidding. This strategy had its affirmation in a 19-point resolution decided on after a discussion on the theme “The mining sector and national development” which shows that the regained gold can be secured in a vault. The organization suggested creation of a national mining company to possess the assets and get enlisted on the gold stock exchange in London, Hong Kong and United States of America (USA).
Other resolutions in the communique agreed to the establishment of gold refineries for regular refinement of gold to create ornaments and jewelry to be sold both locally and internationally. This time, there would be an application of the exact process to more than 36 minerals present in the country in commercial quantities but currently suffering exploitation by artisanal or illegal miners, with the emphasis that the government should encourage industrialization of the sector by provision of more mechanized and advanced mining technology.
Exploration licenses should be issued by the federal government to states.
According to the policy advocacy platform, this process would reduce the rate of unemployment in the country, particularly in mining communities. The local miners have required skills, knowledge and organizational skills which, through motivation from the corporate mining sector or people-oriented investors, would be improved. Any minister who would be appointed to oversee the Miles and Steel Ministry must have basic and required knowledge of the industry. The fellow must be willing to append a signature to a performance contract that will approve timelines for effective diversification of the Nigerian economy from oil to mining.
The federal and state governments were advised to have a seamless collaboration. Exploration licenses should be issued by the federal government to states in possession of natural minerals for appropriate harmonization of artisanal miners into cooperative societies. Before the implementation of this strategy, a state of emergency should be declared in the industry because many valuable minerals are illegally mined and sold on a daily basis with no returns to the government. Making major stakeholders of local government areas in mining sites curb insurgency and burden exploitation by foreigners with no good intentions.
Basic primary amenities should be provided to host communities.
Additionally, to effectively tackle the challenge of natural resources exploitation in the country, security operatives should be ready to show political willpower and readiness. The regulatory agency of the ministry should also ensure remedial measures that mandate mining companies to put measures in place for remediation of the environment that has suffered from mining exploration activities. Mining operations are responsible for generation of fine dust and soot that are toxic to humans. For this reason, provision of basic primary health facilities to host communities should be made compulsory for mining companies.
Government, ministry and regulatory agency are saddled with the responsibility of creating a unit for supervision of remedial work to resuscitate the environment of local communities that have been negatively impacted by mining activities and management of situations of the environment and post-mining activities. The resolution also suggested Public Private Partnership (PPP) as a means of improving the proposed initiative. With private participation, there would be a break down of the value chain and expected participatory roles from the private sector. By doing so, there would be a reduction of theft in the mining sector.
The mining industry’s labour force lack formality and are underpaid.
Furthermore, the Nigerian Customs Service is required to more efficiently reduce the increase in illegal exportation of natural resources out of the country which goes through the process of Nigeria’s border post. The deliberation highlighted that notwithstanding the industry’s ability to boost the Internally Generated Revenue (IGR) of the country, it suffers depletion, underproduction and underutilization to the detriment of national development. The communique asserted that the labour force in the industry lack formality, proper training and are underpaid, asking how the situation can be changed.
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The mining industry will take a new turn – A national mining company should be established to own recovered gold assets. – Express your point of view.
The federal government should the gold mining sector of the country. We are talking about diversification, where is an area that can be explore to generate revenue for the country. There several illegal mining in these areas. A national mining company need to be establish to own the recovery gold assets. Minister that will be appointed to oversee the Miles and Steel Ministry must have basic and required knowledge of the industry.
Gold mining is an area that the federal government need to invest into in order to generate revenue for the country. illegal miners should be checked and security beefed around such areas where gold is mine. Basic amenities and security should be made available to people in these communities. A national mining company should be established to own recovered gold assets. We should convert our gold to jewelries and other ornament which can be sold in any market.
It should start taking a new turn already. We need to set things in motion in the mining industry and get to work immediately.
The mining industry in the country should develop more by federal government and all what is needed to boost the sector should be done because there is lots of potential in the industry which can definitely boost the economy in different ways,by providing job for people and also bring huge revenue to the economy through foreign earning.
The recovered gold should be placed under the control of a national mining company. Instead of keeping our gold in storage, we should make it into jewelry and other decorative items.
More focus should be placed on the mining sector considering its potential tremendous benefits it could yield to the country’s economy. And such action of establishing national mining company will aid in this sense.
The mining industry should take new step for improvement and to established our own recovered gold asset, mining sector will also generate more income for our country if we manage it well
the labour force in the industry lack formality, proper training and are underpaid, asking how the situation can be changed.
The organization proposed the establishment of a national mining company in order to acquire the properties and to become listed on the gold stock exchange in London.
There are lot of potentials in the industry which can definitely boost the economy in different ways,by providing job for people and also bring huge revenue to the economy through foreign earning. Really enticing.
The federal government ought to put money into gold mining since it is a good way to increase tax revenue. The security in and around gold-mining regions should be increased to prevent unlawful mining.
Increasing security in and around gold mining regions is necessary due to the high risk of illegal mining activity. People living in these areas deserve access to standard conveniences and safety measures.
the establishment of a national mining company with the purpose of acquiring the assets and becoming listed on the gold stock exchange in London,
Other decisions in the communique agreed to the creation of gold refineries for the purpose of regular refinement of gold to manufacture ornaments and jewelry that can be sold both domestically and globally.
The mining industry will take a new turn. We have so many resources in Nigeria but bad leadership is dragging the country backward
The colleagues needs to be willing to sign a performance contract that will approve timetables for effectively diversifying the Nigerian economy away from its reliance on oil and toward mining.
The government ought to facilitate the modernization of the mining industry by making available mining technology that is both more mechanized and technologically advanced.
By requiring significant stakeholders of local government areas in mining sites to bear responsibility for preventing insurrection and relieving the burden of burdensome exploitation by foreigners with ill intent.
In accordance with other communiqué directives, gold refineries should be established so that gold can be regularly refined into ornaments and jewelry that can be marketed domestically and abroad.
Given the enormous benefits to the nation’s economy that the mining industry may provide, it needs more attention. And the establishment of a national mining enterprise will help in this regard.