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Ex-Coal Corporation boss decries poor rate of mining in Nigeria

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ABAKALIKI – Mr Herbert Diala, former Managing Director, Nigerian Coal Corporation, has decried the poor rate of mining in Nigeria occasioned by the nation’s over reliance on oil.

Diala made the observation in Abakaliki during a workshop for artisanal and small-scale miners, organised by the Ebonyi Ministry for Mines and Steel Development.

The theme of the workshop was “Basic training course for artisanal/small scale miners in the South East zone”.

Diala, a mining Consultant, said that with his experience in Britain and Ghana, Nigeria could be said to be a non-mining country.

“There are no operational mines in the country as obtained before the nation’s civil war when such mines and intense mining activities were obtained in Plateau and other cities.

“The over dependence of the country on oil led to this development, although the government is determined to reverse the trend,” he said.

CoalHe said the intention of returning mining to its deserved place in the nation’s economy led to the organisation of the workshop for the South-East and other zones of the country.

“Mining can be revitalized in the country through the formalization of small-scale miners’ activities and adequate enlightenment on moralities to enhance their activities.

“More than 400,000 individuals in the country benefit directly from the activities of small scale miners.

“The formalisation of their activities has changed the perception that they are doing illegal mining,” he said.

He said participants at the workshop were tutored on basic mining requirements such as organisation of artisanal mining sites, environment and health issues and causes of broken down mines.

Mr Obiora Azubike, Director, Artisanal and Small Scale Mining in the ministry, said Ebonyi was chosen for the workshop in the South East due to the prevalence of mining activities in the state.

Azubike, represented by Mr Charles Ukah, an official of the ministry, said Ebonyi was endowed with several minerals which made it imperative for the activities of small-scale miners to be coordinated.

According to him, the workshop will benefit the miners in their prospecting and exploration services and provision of proven mineral reserve evaluation.

He also said it would also offer assistance on mine/quarry design and planning, and teach adequate skills in mining with new technology.

He said participants would also be tutored on how to provide environment impact assessment report and detailed guidelines on waste and tailing disposal.

Other areas are introduction of health and safety procedures in mining, provision of teaching equipment and plants hire on arrangement with manufacturers.

Mrs Judith Ubekwu, a participant, said that her knowledge of mining had been enhanced through the workshop, adding that she would put it into optimal use.

Biztellers reports that a communique at the end of the programme urged artisans and small scale miners to register with miners’ association.

The communique called for the conversion of abandoned quarries to fish ponds and conversion of underground mines into national monuments and tunnels.

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Business

Nigeria set to boost Naira value and foreign reserve with local gold production, as Tinubu receives gold bar

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IN  a significant move to strengthen Nigeria’s economy, President Bola Tinubu received a symbolic gold bar on Sunday from the Minister of Solid Minerals Development, Dele Alake.

This gesture marks the commencement of the National Gold Purchase Program (NGPP), aimed at boosting the naira’s value and enhancing the country’s foreign reserves.

Minister Alake expressed gratitude to President Tinubu for his support of reforms in the solid minerals sector.

He highlighted that the NGPP, which involves sourcing gold from artisanal and small-scale miners and refining it to meet the London Bullion Market Association’s Good Delivery Standard, will substantially contribute to Nigeria’s economic stability.

Alake stated “This initiative will significantly increase our foreign reserves and strengthen the naira. The refined gold will be supplied to the Central Bank of Nigeria, marking a crucial step in our economic strategy.”

The presentation also underscored the first commercial transaction under the NGPP, establishing a centralized gold purchasing system that integrates small-scale miners, cooperatives, and production units across the nation.

This program is expected to provide a structured market for gold, fostering economic growth and stability.

He said, The successful completion of the first commercial transaction clearly demonstrates the National Gold Purchase Program’s effectiveness. It has increased the nation’s foreign reserves assets and shown that using the Nigerian Naira to purchase a liquid asset traded in United States Dollars, such as gold, is a viable strategy. This transaction has also underscored the potential of the National Gold Purchase Program to enhance fiscal and monetary stability.”

Alake added that the initial commercial transaction under the program resulted in a +US$5 million boost in Nigeria’s foreign reserve assets.

The transaction involved refining over 70 kilograms of gold to meet the London Bullion Market quality standard and aggregating locally mined gold, thereby infusing approximately NGN6 billion into the rural economy.

President Tinubu expressed appreciation for the Ministry’s accomplishment in advancing the government’s goal of economic diversification by acknowledging and displaying the symbolic gold bar

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Solid Minerals

FG Fingers Foreigners Sponsoring Banditry For Illegal Mining

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The Nigerian Government has threatened to come down heavily on foreigners sponsoring bandictory as a way of sustaining illegal mining activities in parts of the country.

The warning was handed down in Abuja by Minister, Solid Minerals Development, Dr Oladele Alake, while receiving a delegation of the Nigeria-China Chamber of Mines led by its National President, Dr. Olugbenga Ajala.

Details of these were contained in a statement released by Head, Press & PR, Ministry of Solid Minerals Development, Alaba Balogun over the weekend.

The statement cited, Dr Alake, thus, “The government will come down firmly on these unscrupulous foreign operators sponsoring banditry to perpetrate illegal mining: let me use this medium to appeal through you to tell those sponsors to desist or face the full wrath of the law.”

According to Dr Alake, the Ministry is committed to establishing a multi-agency task force that will end the activities of illegal miners and their collaborators.

The Minster made it clear that the FG had given illegal miners a 30-day-ultimatum to legitimise their businesses, quit Nigeria or incur the wrath of the law.

According to him, this will help “to streamline and structure the Small-Scale Artisanal Miners for maximum yield to the Federal Government.”

The delegation paid a courtesy call on the Minsiter at the Ministry’s headquarters in Abuja.

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Energy

Fuel Scarcity: Govt Yet to Increase Pump Prices – NMDPRA

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A long queue at an NNPC fuel station

By Edozie Obasi-Eze

 

Amidst heightening uncertainties in the domestic petroleum products market characterised by scarcity and irregular pricing, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has declared that there’s no intention to review pump prices upwards.

This was contained in an advisory issued by General Manager, Corporate Communications, NMDPRA, Kimchi Apollo.

He stated that the Nigerian National Petroleum Corporation Limited (NNPCL) had imported PMS with current stock levels sufficient for 34 days.

In an attempt to address panic buying and speculations which have seen price of Premium Motor Spirit (PMS) oscillate between N180-N250 in the Lagos area, Apollo assured that there was enough quantity of the product in the country already.

He said, “Consequently, marketers and the general public are advised to avoid panic buying, diversion of products and hoarding.

“In keeping with the Authority’s responsibilities as outlined in the Petroleum Industry Act (PIA), the Authority assures the public that it would continue to monitor the supply and distribution of petroleum products nationwide, especially during this holiday season.”

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