• About
  • Contcat Us
Saturday, March 25, 2023
No Result
View All Result
Prestige Blended
  • Login
  • Home
  • Politics
  • Business
  • World
  • Opinion
  • Tech
  • Science
  • Lifestyle
  • Entertainment
  • Health
  • Travel
  • Maritime News
  • Home
  • Politics
  • Business
  • World
  • Opinion
  • Tech
  • Science
  • Lifestyle
  • Entertainment
  • Health
  • Travel
  • Maritime News
No Result
View All Result
Prestige Blended
No Result
View All Result
Home News

AfCFTA WILL STEM ILLEGAL MINING—FG

admin by admin
March 1, 2021
in News
0
AfCFTA WILL STEM ILLEGAL MINING—FG
0
SHARES
25
VIEWS
Share on FacebookShare on Twitter

AfCFTA WILL STEM ILLEGAL MINING – FG

The Federal Government said on Sunday that the African Continental Free Trade Area (AfCFTA) initiative would help to stem illegalities in the mining sector.

READ ALSO

CATHOLIC PRIEST, FAITHFUL WANT LEADERS TO EMULATE AGGEY’S GOOD WORKS

Old 200,500 And 1000 Naira Notes Remain Legal Tender Till 31st December, 2023—CBN

The Minister of Mines and Steel Development, Mr Olamilekan Adegbite, made the assertion while featuring at the News Agency of Nigeria (NAN) Forum in Abuja.

Speaking on how to promote solid minerals export to maximise the potential and benefits of AfCFTA, Adegbite expressed his optimism that AfCTA would discourage illegal mining.

“Right now, many Nigerians are into artisanal mining and this was caused by the fact that when oil was discovered, Nigeria moved away from mining, which was the mainstream of the economy.

“Before oil and gas, Nigeria relied on coal and tin; we were exporting and were true, quoted on the London Metal Exchange.

“And that is basically what was giving Nigeria money in those days before oil came but when oil came, we moved away. We left mining behind.”

The minister recalled that the Indigenisation Decree of 1973 sent many companies out of Nigeria.

This, he said, resulted in many workers being laid off by the companies they were working pushing some of them to resort to artisanal mining.

Adegbite noted, however, that the artisanal miners did not have formal experience or skill in mining, making them engage in subsistence mining to make their livelihood.

“Some people now exploit this and they aggregate whatever they mine and take them out of Nigeria illegally.

“Gold is the most traded mineral in Nigeria and these people mine gold and get nuggets. There are several thousands of such miners, when you aggregate what they mine, it comes in large volume and several kilos of gold”.

“To know the extent of the money they make in the gold business, they hire private jets to take them out illegally because they realise a lot of money”.

“At the rate, gold is selling, one ounce of gold is selling for $2,200 and by the time you carry a thousand kilogrammes, you are making several billions of naira”.

“But with AfCFTA coming into effect, we hope that other countries will cooperate with Nigeria because now it is a free trade but there is documentation.”

Adegbite lamented that a lot of the illegal miners used neighbouring countries, especially the Niger Republic as a route to get to their destinations.

The minister argued that there must be active connivance of highly placed people because one would not fly an aeroplane into another country without clearance in such a country.

“They essentially fly the planes into neighbouring countries and take the minerals through our land borders.”

Adegbite recalled that during the COVID-19 pandemic, people helped the ministry with videos of how gold was being taken out of Nigeria.

“During the COVID-19 lockdown, no flight was coming into Nigeria and they were getting the quantity of gold they needed to take to Dubai.

“So, with AfCFTA coming into effect, we hope this will help to stem the problem because now we are supposed to trade freely among ourselves with documentation.

“We hope that other countries will cooperate with Nigeria. I will not allow such illegal activity to go on within those countries,” the minister vowed.

Nigeria joined 53 other African countries on Jan. 1 this year, to set AfCFTA in motion.

AfCTA, the world’s biggest trade bloc, was established to speed up intra-continental trade.

CREDIT : VANGUARD

Tags: FeaturedNews

Related Posts

CATHOLIC PRIEST, FAITHFUL WANT LEADERS TO EMULATE AGGEY’S GOOD WORKS
News

CATHOLIC PRIEST, FAITHFUL WANT LEADERS TO EMULATE AGGEY’S GOOD WORKS

March 17, 2023
Old Naira Notes Are No Longer Legal Tender In Nigeria, Do Not Use Or Accept It ! —CBN
News

Old 200,500 And 1000 Naira Notes Remain Legal Tender Till 31st December, 2023—CBN

March 14, 2023
NIGERIAN ARMY DEBUNKS PLOT TO TRUNCATE DEMOCRACY
News

STOP PLANS OF DISRUPTING ELECTIONS, GEN. YAHAYA WARNS THUGS

February 18, 2023
Nigerians Slam President Buhari, Say He Lacks Ideas As Petroleum Minister
News

TEXTS OF PRESIDENT BUHARI’S SPEECH ON NAIRA NOTES AND STATE OF THE NATION

February 16, 2023
Old Naira Notes Rejection: Ganduje Threatens To Revoke Licenses Of Banks And Business Owners
News

Old Naira Notes Rejection: Ganduje Threatens To Revoke Licenses Of Banks And Business Owners

February 14, 2023
POLLS WILL NOT HOLD IN 240 POLLING UNITS ACROSS 25 STATES — INEC
News

POLLS WILL NOT HOLD IN 240 POLLING UNITS ACROSS 25 STATES — INEC

February 13, 2023
Next Post
ANLCA TINCAN CHAPTER TAKES WAR TO TICT OVER FORCEFUL COLLECTION OF POF

ANLCA TINCAN CHAPTER TAKES WAR TO TICT OVER FORCEFUL COLLECTION OF POF

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

POPULAR NEWS

IJU TONY NWABUNIKE IS THE PROBLEM OF ANLCA —Ada Akpunonu

IJU TONY NWABUNIKE IS THE PROBLEM OF ANLCA —Ada Akpunonu

February 10, 2021
HARRITEX: THE MAN,CHIEF HENRY IHEANYICHUKWU NJOKU,(KSM).

HARRITEX: THE MAN,CHIEF HENRY IHEANYICHUKWU NJOKU,(KSM).

February 1, 2022
THE YOGA QUEEN, LINDA NGOZI UBOCHI: HER AMAZING PASSION FOR THE ART AND SERIES OF JAW-DROPPING STUNTS

THE YOGA QUEEN, LINDA NGOZI UBOCHI: HER AMAZING PASSION FOR THE ART AND SERIES OF JAW-DROPPING STUNTS

December 29, 2021
CLEARING AGENTS REACT OVER SHUTDOWN OF HANOVER BONDED TERMINAL BY NPA

CLEARING AGENTS REACT OVER SHUTDOWN OF HANOVER BONDED TERMINAL BY NPA

February 6, 2021
NAGAFF, APAPA CHAPTER, NOW HAS A NEW CHAIRMAN

NAGAFF, APAPA CHAPTER, NOW HAS A NEW CHAIRMAN

October 14, 2021

EDITOR'S PICK

I EAT HUMAN ORGANS AND SELL BODY PARTS- Aminu Baba

January 14, 2022
CREFFPON; PASSIONATE ABOUT PORTS INDUSTRY SANITIZATION—Mcanthony Onuoha

CREFFPON; PASSIONATE ABOUT PORTS INDUSTRY SANITIZATION—Mcanthony Onuoha

February 9, 2021
HATE IS A BIG BURDEN — Mcanthony Onuoha

HATE IS A BIG BURDEN — Mcanthony Onuoha

January 26, 2021
SOUTHWEST JOINT BORDER PATROL OPERATIONS RECORDS IMPRESSIVE SEIZURES

SOUTHWEST JOINT BORDER PATROL OPERATIONS RECORDS IMPRESSIVE SEIZURES

March 4, 2023

About

Daily News

Who we are
The Prestige Blended Magazine is published by GREENDOREEN MEDIA SERVICES.

The PRESTIGE BLENDED MAGAZINE was founded in 2012.

Our Vision
To become the gold standard of Media practice in Nigeria.

Our Mission
To prolifically serve as a catalyst for positive change by constructively advocating for the ushering in of an era of egalitarianism. And to remain in the forefront of the crusade for balanced and verifiable media reportage.

Our Services
For wider publicity of your wedding, child naming, burial ceremonies,seminars, press briefing, interviews, inaugurations, graduations, adverts of goods and services, etc.

Follow us

Main Links

  • About
  • Contcat Us

Categories

  • Arts
  • Business
  • Crime
  • Culture
  • Education
  • Entertainment
  • Health
  • History
  • Maritime News
  • National
  • News
  • Opinion
  • Personality
  • Politics
  • Relationship
  • Sport
  • Tech
  • Transportation
  • Travel
  • Uncategorized
  • World

Recent Posts

  • HOPE UZODIMMA AND ABRACADABRA POLITICS
  • APFFLON PICKS HOLES IN PEBEC RANKING, MAKES A CASE FOR NDLEA
  • PEACE PACT: APFFLON HAILS CRFFN, CONGRATULATES ANLCA
  • CASHLESS: ORGANIZATION TRAINS WOMEN ON TRADE ENHANCEMENTS TO COUNTER ECONOMIC CRUNCH

© 2020 Prestige Blended - News Magazine website

No Result
View All Result
  • Home
  • Politics
  • Business
  • World
  • Opinion
  • Tech
  • Science
  • Lifestyle
  • Entertainment
  • Health
  • Travel
  • Maritime News

© 2020 Prestige Blended - News Magazine website

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In