Nigeria A Conducive Haven For Miners – ACCI, Miners
Nigeria has been identified as a conducive destination for miners given several reforms of the federal government.
This point was validated by the Vice President (Mines) Abuja Chamber of Commerce and Industry, (ACCI) Arc Chidi Okoli and the National President of Miners Association, Alhaji Shehu Sani at the ongoing 10th international Trade Fair.
According to the experts, Mining in Nigeria is over 2,400 years old with initial mining taking place in the form of artisanal mining by communities in search of materials such as Gold, Clay, base metals for sculptures, while organized mining started in 1902 resulting in Nigeria producing and exporting columbite and Tin and Coal.
By 1940s, Nigeria became the 6th world largest producer of columbite, Tin and coal with over 120 foreign mining companies in Nigeria.
The country officially recorded gold production started by 1913 and peaked in the period 1933-1943 when about 1.4t of gold were produced. The gold production declined during the Second World War period and never recovered as mines were abandoned by mostly colonial companies.
Major operators included Amalgamated Tin Mines of Nigeria Ltd, Exlands Nigeria Ltd, Gold & Base Metal Mines of Nig. Ltd and Nigeria Coal Corp.
Royalties, fees and rents formed significant part of the national revenue and job opportunities
What really makes Nigeria tick as a potential hub of mining is the Establishment of Policies, Legal and Regulatory Frameworks & Institutions Minerals and Mining Act, in 2007.
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Also worthy of note is the Minerals and Metals Policy, 2008 Minerals and Mining Regulations; 2011 Privatisation of moribund Government Parastatals; NGSA enhanced geoscience data generation capability; Digital Mining Cadastre system; Establishment of an autonomous Mining Cadastre for the administration of Mining titles and Establishment of Policy Departments.
According to the experts the reforms were necessary to address the departure of the major mining companies from the country due to unfavorable policies and neglect of the sector by successive Governments.
The situation led to no tax levies being collected; limited contribution to the economy and high Investor perception of risk- due to poor Governance Sector.
The experts in their presentation noted that recent exploration activities have indicated the occurrence of 44 solid mineral resources made up of: Energy minerals- coal and tar sand (Bitumen) Different types of metallic minerals – Iron ore, copper, gold, lead-zinc , Manganese Array of exotic gemstones and dimension stones Industrial Minerals- Limestone, clay, Feldspar, Kaolin, Marble and Gypsum.
It is note-worthy that a total of 4,125 extant mineral licenses are held by operators following the revocation of non-performing ones in line with the NMMA 2007 and the sector is continuously recording annual increase in revenue receipts as corroborated by NEITI’s recent Audit Report.
The presenters commended the federal government for its commitment in protecting Foreign Investments through a policy that strongly supports diversification of its economy through mineral exploitation.
