, as gold currently trades at 1,683.65 per ounce. The Federal Government had, over the years, talked about diversifying the economy but not much has been done to ensure proper implementation.
Experts also believe that if the country conserves her gold reserves, and ensures effective exploitation, the accruing revenue would surpass that of oil and gas. He also said the state government’s enforcement agencies are disrupting illegal mining, and spotlighting the activities of their financiers and backers, saying: “We will be relentless in this campaign until we rid the land of these miscreants to prevent another Niger Delta experience in Osun.”
Ibiremo argued that uncoordinated mining endangers the lives of the people, as just anyone could fall into ditches. It therefore makes the environment unsafe for farming and survival. Meanwhile, Section 44 of the Nigerian Minerals and Mining law of 1999 provides that ownership and control of all minerals in Nigeria is vested in the federal government, which is mandated to manage such natural resources in a manner as may be prescribed by the National Assembly.
Olatunji noted that a detailed exploration programme would determine the quantity and quality of Nigeria’s gold occurrences. “Efforts are being put in place to achieve this, being that gold is one of the targeted metals that is currently running in the National Integrated Mineral Exploration Project undertaken by the Mining, Minerals and Sustainable Development , and supervised by the Nigeria Geological Survey Agency .
He added that Segilola, the first large-scale gold mine in the country to be publicly traded on an international stock exchange , located in Ilesha, Osun State, has done an extensive work on prospect. It has determined its reserves and is ready to start mining. On his part, Oyo State Government’s Special Adviser on Solid Minerals Development, Abiodun Oni, said Governor Seyi Makinde is ready to collaborate with the Federal Government to ensure that illegal mining is abolished and provides a convenient environment for investors. He said: “We are working on getting a bankable data on our mineral resources before going to the market. So, we are guided by informed data for our decisions especially as it relates to our potential investors.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: GuardianNigeria - 🏆 1. / 94 Read more »
Source: GuardianNigeria - 🏆 1. / 94 Read more »
Source: GuardianNigeria - 🏆 1. / 94 Read more »
Source: GuardianNigeria - 🏆 1. / 94 Read more »
Source: TheNationNews - 🏆 6. / 69 Read more »
Source: PremiumTimesng - 🏆 3. / 78 Read more »