Nigeria lost N3bn to illegal gold smuggling in 6-yrs — Buhari vanguardnews
President Buhari also said that improved gold mining operations in the country will generate about 250,000 jobs and over $500 million annually in royalties and taxes to the Federal Government.
He said the laudable initiative would support efforts at creation of jobs for Nigerians, diversifying the revenue base, and improving foreign exchange reserves. “These operations will help in diversifying our revenue base. The sale of gold by artisanal miners and SMEs at accredited centres will help the government in realizing royalties and taxes from the sale of these assets.
He expressed optimism that these measures would lead to the creation of additional job opportunities across the gold value chain and also help the nation capture the additional value created from the gold refining process. Speaking with State House correspondents after the launch, Governor Atiku Bagudu of Kebbi State said the Presidential Artisanal Gold Mining Development Initiative, PAGMDI, will positively impact on the security situation in most parts of the country currently experiencing security challenges.
He said that many states, including Kebbi have people in the artisanal gold mining sector for decades but this is the first time they are being energized by a National Programme.
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