- Gbefwi stated that illegal mining poses significant risks to the nation’s economy, environment, and security
Nigeria loses $9 billion annually to illegal mining, according to the House of Representatives Committee on Solid Minerals Development.
Jonathan Gbefwi, chairman of the committee, highlighted the issue during a public hearing on Monday aimed at investigating illegal mining in the solid mineral sector. Gbefwi stated that illegal mining poses significant risks to the nation’s economy, environment, and security.
“The unregulated exploitation of our natural resources jeopardises the sustainability of the mineral sector, leading to environmental degradation and revenue loss that could otherwise benefit our communities and nation as a whole,” Gbefwi said.
He emphasized the urgency of addressing the issue, stating, “It is imperative that we take as a matter of urgency, decisive steps and necessary action to address this issue and ensure that our solid mineral sector operates within the framework of the law, protecting our natural resources for future generations.”
The chairman also expressed concern over the loss of revenue from unregulated mining activities, noting that the federal government estimates unlawful mining costs the country $9 billion each year, with revenue coming only from a 3 percent royalty paid by licensed miners.
“This development hampers the country’s ability to maximize the benefits from its mineral resources,” Gbefwi concluded.
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