The Nigerian Senate committee on solid minerals has reported significant financial losses in both federal and state revenues due to illegal mining activities. This revelation came after the committee, led by Senator Sampson Ekong (PDP, Akwa Ibom South), visited Niger State to investigate the recent collapse of a mining pit that resulted in approximately 30 fatalities. The tragedy spurred Senator Sani Musa (APC, Niger East) to push for an assessment of the situation by the committee. During the visit, Senator Ekong emphasised the lucrative potential of Nigeria’s solid minerals sector, which could greatly enhance government revenue, diversify the economy, and boost GDP if effectively managed. However, he expressed concerns about the rampant illegal mining operations that not only deplete national wealth but also contribute to escalating insecurity issues. Senator Ekong highlighted the importance of legislative efforts to address the challenges facing the mining industry. He assured stakeholders that the Senate is dedicated to eliminating illegal mining and establishing proper regulations within the sector to promote sustainable growth.

Illegal mining in Nigeria has become a pressing issue as it undermines government revenue and poses security threats. The recent collapse of a mining pit in Niger State, which caused numerous fatalities, has raised awareness about the dangers associated with unregulated mining operations. These activities divert significant financial resources and facilitate criminal behaviour, prompting the Senate to take decisive action in safeguarding the mining sector and reaping its economic benefits.

The Senate committee’s findings indicate that Nigeria is losing substantial revenue due to illegal mining, which also exacerbates security concerns. Legislative measures are being considered to regulate the sector and promote growth, highlighting the potential of mining to positively impact the economy if properly managed.

Original Source: dailytrust.com

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