Reviewing Mining Activities in Nigeria: A Step towards Economic Diversification
The President of the Senate, Godswill Akpabio, recently declared the commencement of a three-day investigative hearing on mining activities in Nigeria. The objective of this hearing is to expand the nation’s economy by conducting a thorough review of the input and output values of the Nigerian mining industry. The event, which commenced on Tuesday, 7th May 2024, was coordinated by the Senate Committee on Solid Minerals Development and took place at the National Assembly complex in Abuja.
In his opening address, Akpabio expressed his appreciation to the Committee on Solid Minerals Development for their diligence in organizing the event. He underscored the crucial role that the mining industry should assume in the country’s pursuit of economic diversification. He highlighted the significant potential of the sector and the necessity to address the challenges impeding its growth. Akpabio urged all participants present at the event to actively participate in the deliberations of the hearing, emphasizing the importance of their expertise, concerns, perspectives, insights, and recommendations in shaping the future of the Nigerian Mining Industry.
During his remarks, the Chairman of the Committee, Senator Ekong Sampson, emphasized the mandate given to the committee by the Senate. This entails investigating the causes of the declining revenue from Solid Minerals development, as well as reviewing the activities of policy administrators, policy executors, and industry players. The committee will also evaluate the extent and impact of illegal mining activities and review all the Bureau of Public Enterprises privatization and commercialization of all mining and mineral resources related programs from 1999 to date.
The Minister of Solid Minerals Development, Dele Alake, and other pertinent business stakeholders attended the hearing, underscoring the significance of the event. The emphasis on economic diversification, foreign exchange earnings, and social inclusion in the mining industry aligns with the government’s efforts to tap into the sector’s abundant mineral resources and position Nigeria as a global powerhouse in the industry.
The investigative hearing presents an opportunity to pose challenging questions, identify obstacles, and develop effective strategies to overcome them. It also promotes constructive dialogue, the sharing of best practices, and the exploration of innovative solutions to integrate the mining sector into the economy. The commitment to the development of the nation’s mining sector and the leadership in driving economic diversification is commendable.
In conclusion, the investigative hearing on mining activities in Nigeria signifies a significant step towards economic diversification. The collaboration between government, industry players, and stakeholders is crucial in unlocking the potential of the mining sector and propelling the economy towards new horizons.
Source:
Akpabio declares open investigative hearing to review mining activities in Nigeria – OrderPaper
