Mr Alake said the country loses over $9bn to illegal mining yearly.
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Mr Alake lamented the country’s low investment in mining exploration. $ 2.5 million was invested last year, citing figures from Standard & Poor’s report. Highlighting efforts to combat illegal mining, the minister informed the senators about the recently unveiled 2,220-man strong Mining Marshals, with 60 operatives deployed in each state of the federation and the FCT.
It’s essential to acknowledge that news production incurs expenses, and we take pride in never placing our stories behind a prohibitive paywall. In line with the new value addition policy of the Federal Government, Mr Alake hinted at the imminent establishment of six more processing centres across the geo-political zones, stressing that efforts to effectively equip the mining marshal and other reforms of the ministry will require legislative backing for necessary statutes and improved funding.
” We want to look at the challenges and see what we can do, together with the executive, to address these bottlenecks and ensure that solid minerals contribute substantially to our economy. Nigeria is blessed with vast mineral deposits. The time is now to harness these God-given resources for the benefit of all Nigerians, “Sen. Sampson added.
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