The Federal Government has given MIREMCO a 90-day ultimatum to improve its performance or face sanctions. The minister expressed disappointment over the committee’s failures in mediating among stakeholders. Concurrently, the government plans to establish mineral centres and insists on local processing plans in future mining applications to enhance economic value from mineral extraction.
The Federal Government has mandated the Mineral Resources and Environmental Management Committee (MIREMCO) to enhance its performance within a 90-day timeframe, or face penalties. Minister of Solid Minerals Development, Dr. Dele Alake, expressed dissatisfaction with the committee’s ability to mediate between stakeholders in the mining sector, failing to fulfill its statutory obligations. Under the Nigeria Minerals and Mining Act of 2007, MIREMCO is meant to oversee compliance among operators with environmental regulations, which has evidently not been the case. Dr. Alake warned that failure to meet expectations would prompt federal intervention to restore effective management of mineral resources in Nigeria.
The government is also focusing on bolstering the mining sector by establishing six mineral centres across Nigeria’s geopolitical zones. This initiative accompanies a new policy aimed at ensuring that mineral extraction activities contribute maximum value to the economy by enforcing that mining applications include plans for local processing and value addition. Ongoing challenges such as limited active mining projects and funding constraints were highlighted by the Director General of the Nigeria Mining Cadastre Office, Obadiah Nkom.
The Mineral Resources and Environmental Management Committee (MIREMCO) is a regulatory body under the Nigeria Minerals and Mining Act of 2007, tasked with ensuring compliance and mediating between stakeholders, including local communities and mining operators. Currently, there are issues surrounding its effectiveness, which has resulted in governmental dissatisfaction. In addition, the Nigerian government aims to improve the mining sector significantly, seeking to add local value to extracted resources and develop local industries to tackle economic losses.
The Federal Government’s ultimatum to MIREMCO aims to enhance oversight and compliance in the mining sector, reflecting a commitment to effectively manage Nigeria’s mineral resources. With a 90-day deadline set for improvements, the initiative underscores the need for strong institutional frameworks and policies that promote local value addition, which will ultimately benefit the economy and local communities.
Original Source: nairametrics.com