The Impact of Solid Minerals Theft on Nigeria’s Economy
Stakeholders within the mining sector in Nigeria have advocated for the establishment of a Solid Minerals Special Task Force (SMSTF) to regulate illegal mining operations within the country. It has been reported that the Nigerian government loses over $3 billion in revenue annually due to solid minerals theft and illicit mining activities.
The spokesperson for the group of mining stakeholders, Alhaji Mohammed Abba Liman, who is also the CEO of Daroo Nigeria Ltd in Abuja, conveyed this message during a conversation with the press. Liman stressed the importance of the SMSTF, which was established by the Honourable Minister of Solid Minerals Development, Dr. Dele Alake. He stated that this initiative is crucial in addressing the widespread theft of solid minerals and the prevalence of illegal mining in the country.
Liman highlighted the damaging impact of illegal mining activities on the Nigerian economy, citing a staggering annual loss of over $3 billion. He emphasized the unauthorized excavation and exportation of mineral resources such as gold, tin, diamond, lithium, and other precious stones outside of Nigeria, by both Nigerian citizens and foreigners. This issue spans across various regions in Nigeria, from North-west, North-east, North-central, to South-west.
Drawing a parallel, Liman likened the flagrant squandering of Nigeria’s solid mineral resources to the theft of oil by criminal elements in the Niger Delta. This comparison further emphasizes the severity of the situation and the urgent need for intervention.
The recognition of this significant economic challenge by these mining stakeholders highlights the gravity of the issue at hand. Their endorsement of the establishment of the Solid Minerals Special Task Force underscores the necessity of implementing effective measures to curb the illegal activities that continue to undermine Nigeria’s mining sector. It is evident that proactive steps need to be taken to safeguard the country’s valuable mineral resources and prevent further depletion due to illicit practices that are contributing to substantial financial losses.
In conclusion, the support from stakeholders within the mining industry for the formation of the SMSTF demonstrates a unified stance against the detrimental effects of solid minerals theft and illegal mining in Nigeria. By addressing these concerns, the government can take a vital step towards protecting the country’s economic interests and sustaining the integrity of its mineral resources for future generations.
