Mineral sector generates 199bn in 7 yrs, says NEITI

Abuja, Oct. 18, 2017 (TNE) The Solid Mineral Sector generated N199 billion from 2007 to 2014, says the Nigerian Extractive Initiative Transparency Initiative (NEITI).

Dr Orji Orji, Director of Communications, NEITI, said this on the sidelines of the on-going Nigeria Mining Week on Wednesday in Abuja.

He said in 2007, solid mineral sector generated the amount through NEITI; N8.194bn was generated in 2007; 9.581bn in 2008; 19.425bn in 2009; 17.367bn in 2010; 23.674bn in 2011; 31.4 49bn in 2012; 33.862bn in 2013 and 55.814bn in 2014, bringing it to 199.366bn realised from 2007 to 2014.

He said that NEITI made tremendous efforts in the solid mineral sector to acquire such amount, adding that the sector was experiencing improper record of minerals until the introduction of NEITI.

He said that NEITI had been able to block many leakages identified in all affected agencies.

“We draw the attention of the affected agencies with revenue leakages and also the attention of the Federal Inland Revenue Service (FIRS), Office of the Accountant General, Central Bank and the Ministry of Finance.

“As an agency, we can’t be everywhere, but we work with affected agencies to address leakages,’’ he said.

He said that full effective implementation of the Mining Roadmap would help the sold mineral sector to address illegal exportation of minerals, tax and royalty being made from mining investors on yearly basis.

He said the ministry needed support from investors, donor agencies, civil society organisations and the media to help the sector to achieve full implementation of its roadmap.

However, Senate on Tuesday raised concerns over mining activities across the country when it invited the Minister of Solid Minerals, Dr Kayode Fayemi, to appear before and brief it on the ministry’s mining roadmap and implementation framework.

According to a motion presented by Sen. Oluremi Tinubu (APC-Lagos) and four other senators, the minister is also expected to brief the upper chamber on how the ministry intended to ensure protection of the residents of mining host communities against lead poisoning and other hazards.

The motion is on the “Update on Lead Poisoning in Zamfara and the need to prevent further propagation of the resources theory”.

While noting that Nigeria did not qualify as a mining state, Tinubu said that the 2016 Gross Domestic Product (GDP) breakdown described the mining sector’s contribution to the nation’s GDP as abysmal.

“It revealed that the nation’s mining sector is almost redundant, while the Minister of Solid Minerals, Dr Fayemi, is working to resuscitate the sector, and that the ministry has approved a mining roadmap.”

However, the Senate did not specify if the mining sector has been an abysmal failure since 2007.

(TNE)

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