- Nigeria loses 91% of mining revenue due to rampant illegal mining activities, with 80% occurring in the northwest region
- ECOWAS Parliament Speaker, Dr. Tunis, highlights the consequences, linking illegal mining to insecurity issues like banditry, kidnapping, and insurgency
Dr Mohamed Sidie Tunis, the Speaker of the Economic Community of West African States (ECOWAS) Parliament, disclosed that Nigeria is haemorrhaging a staggering 91% of its revenue from the mining sector, all thanks to the rampant activities of illegal miners.
Speaking at the commencement of a three-day seminar organized by the Parliament on “Illegal mining and its implications in the ECOWAS Region,” Dr. Tunis shed light on the alarming statistics. A whopping 80% of mining in Nigeria’s northwest region is being conducted illicitly, causing the nation to lose 91% of potential mining revenue.
The consequences of this illicit activity extend beyond financial losses, as Dr. Tunis emphasized how it fuels the flames of insecurity, manifesting in banditry, kidnapping, and even insurgency.
While countries like Ghana, Burkina Faso, and Cote d’Ivoire harness their mining sectors to contribute significantly to their GDPs, Nigeria lags behind, receiving a mere 9% from the sector. The grim reality is compounded by the fact that 80% of mining in Nigeria’s North West region is carried out illegally, painting a dire picture for the nation’s economic prospects.
Dr. Tunis passionately called for stringent regulation of the mining sector, envisioning that this would safeguard the nation’s financial interests and amplify the sector’s positive impact on the economies of ECOWAS Member States. He stressed that illegal mining not only robs the region of crucial revenue but also fosters instability, giving rise to issues like banditry, kidnapping, thuggery, and in some cases, insurgency.
As Dr. Tunis concludes his four-year term as Speaker, he leaves behind a rallying cry for ECOWAS member states to take concrete measures against illegal mining. The imperative lies in implementing robust regulations and sustainable solutions to secure the region’s precious minerals and propel economic growth.
This call to action resonates as the curtain falls on the fifth legislature of the ECOWAS Parliament. Representing the 15 member states of the Economic Community of West African States, the ECOWAS Parliament, with its 115 seats and 14 committees, serves as a vital platform for regional dialogue and decisive action on critical issues such as mining, security, and economic development.