Economy

Expert Proffers Solution to Raw Minerals Leakage.

By Web News 844

By Iyabo Adebisi

The Nigerian Minning and Geosciences Society, NMGS wants the federal government to halt the exportation of raw mineral resources and engage professionals at the pppxits to curb leakages with a view to generating more revenue for Nigeria. 

The President of the association, Professor Akinade  Olatunji stated this in during a chat with newsmen to appraise the sectors of the Nigerian socio-economic.

Speaking on the backdrop of the dwindling, the newly installed 32nd president of NMGS who regretted the leakages in the solid mineral sector believed that the mineral resources should not be taking out of the country without being processed to enhance transparency

Professor Akinade therefore called for establishment of an agency that would buy raw mineral resources and stock pile  pointing out that those countries buying from Nigeria were not using them immediately but store for later processing. 

He said “If the government want to do the right thing, there should be targeted recruitment of professionals who know those things and they should be posted to mann those exit points where those materials are taking out. And when they begin to do that, you will be shocked”.

“What we are even saying as a nation is that we should stop exporting raw minerals. Infact, we are even proposing that we should ban it totally. All minerals in the country should not be exported without being processed. When you do that, you are going to add value, create more jobs and it’s going to increase resources and we are going to say yes, this is what we have benefited from this”

“That’s actually where we should be, Government can even set up an agency and buy from people who have it and stockpile because you are sending it to China, Europe, they are not processing it immediately, they are also stockpiling. So, I think the current government by the antecedent, they know what to do”.He added. 

On tackling the issue of oil theft, Professor Akinade stressed the need for government to involve communities on why they should see the resources as their own

He said the passage of the Petroleum Industry Acts is a huge leap in bringing the oil and gas sector into the realm that it should be aligning it with the best international practices and opening the sector to the much-needed resources for its  profitability. 

“The coming on board of the PIA has removed vestiges of government tentacles that have bogged down the expected development as the ubiquitous presence of government as regulators and operators had inherent conflicts that have now been resolved with the PIA. 

Government is now responsible for creating and sustaining the operational 

environment, providing regulatory frameworks to which operators are expected to conform”.

Professor Akinade said NMGS would  continue to assist government in moving the nation forward. 

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Economy

OSSG Suspends Mining Activities

By Web News 549

Osun state governor, Ademola Adeleke has ordered the immediate suspension of all mining firms operating the state’s mining licences.

This is contained in a statement issued by the state governor’s spokesperson, Mallam Rasheed Olawale.

The governor had directed all operators to report to the Committee on Assets Verification and Recovery chaired by B.T Salami with copies of their Memorandum of Understanding which govern their relationship with the state government.

The statement reiterates the State government’s resolve to recover all funds owed to Osun State and stop the reaping of state assets from mining to revenue collection.

The statement concludes by directing operators to report to the committee on Monday by noon.

Abiodun Adeoye

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Economy

Restoration of Igbeti Marble Industry Underway -OSSMDA

By Web News 1832

The Executive Chairman, Oyo State Solid Minerals Development Agency, Mr. Abiodun Oni has stated that the marble industry in Igbeti would spring back to life within the next few months as investors have already begun to show interest in developing the industry.

He stated this after a board meeting of the Nigeria Marble Mining Company.

A statement signed by the Special Assistant to the Governor on print media, Mr Moses Alao says the board of Nigeria Marble Mining Company NMMC, was able to come up with a couple of resolutions on how to move the company forward .

Mr Oni, who explained that the investors have been engaged to a reasonable point noting that something positive would be on ground within the next quarter.

In the same vein, the representative of the Igbeti community on the board, Chief Jacob Adetoro expressed gratitude to Governor Makinde for constituting the board, adding that the step was in fulfillment of the governor’s promise during electioneering that he would turn the marble company into prosperity for the people of Igbeti and Oyo state.

The meeting was attended by some of the members of the Board, including the Oyo State Commissioner for Energy Resources, Mr. Seun Asamu, the representative of Igbeti community, Chief Jacob Adetoro, representative of the Asamu family and the Chairman of Olorunsogo Local Government, among others.

Iyabo Adebisi