• About Us
  • Contact Us
  • Privacy & Policy
Monday, July 14, 2025
Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history
Advertisement
  • National
  • Politics
  • Economy
  • Entertainment
  • Sports
  • Editorial
  • Opinion
  • Columns
No Result
View All Result
  • National
  • Politics
  • Economy
  • Entertainment
  • Sports
  • Editorial
  • Opinion
  • Columns
No Result
View All Result
Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history
No Result
View All Result

FG’s Vision for Mining Sector Under Threat — Stakeholders Warn

Martins Nwakaji by Martins Nwakaji
August 22, 2024
in Economy
Reading Time: 3 mins read
A A
0
FG’s Vision for Mining Sector Under Threat — Stakeholders Warn
Share on FacebookShare on TwitterShare on WhatsappShare on EmailShare on Telegram


A group, the Forum of Concerned Stakeholders in the Nigerian minerals and mining sector, has decried the shutdown of legal mining operational sites across states in the country.
The group claimed that the sites were shut down using law enforcement agencies and task forces not known to extant industry regulations.
Prof. Akinade Olatunji, president of the Nigeria Mining and Geosciences Society (NMGS), delivered the forum’s stance at a news conference on the state of affairs in the Nigerian mining industry on Wednesday in Abuja.
Mr. Olatunji said that the situation was frustrating to the stakeholders who had met all the requirements and completed the necessary steps to obtain their licenses.


He described the action as unconstitutional and conflicting with the Nigerian Minerals and Mining Act of 2007, which grants the federal government exclusive ownership and control of mineral resources.
He said that the situation was due to the constant interference of state governments in mining operations within their territories in their quest for control over natural resources.
“These actions from the sub-nationals do not only complicate the business environment for investors.
“They also introduce a huge level of unquantifiable risks capable of hindering and sabotaging the Federal Government’s vision for the accelerated investment flows into the sector,” he said.
He listed the interferences as including the establishment of ministries, departments, and agencies (MDAs) by state governments and requested that all duly licensed operators register with such state-run MDAs.
He said that there was also confiscation of lawfully mined products from operators without reason, brutalization of personnel of operators, and, in some instances, vandalization and setting on fire of hard-earned equipment.
He accused the state governments of also instituting frivolous court cases against operators, adding that the series of interferences had thrown the entire sector into confusion.


According to him, the conduct of the affected state governments can be partly traced to the lack of establishment or effectiveness of the States Mineral Resources and Environmental Management Committee (MIREMCOs).
He noted that the forum wants an authoritative directive from the office of the minister of solid minerals development to address the situation at the sub-nationals.
He also mentioned that the directive should instruct all regulatory agencies and structures by subnational entities to be deemed illegal.
According to Mr Olatunji, the forum wants the suspension of the implementation of the upward review of rates and charges for all activities in the mining sector, which was announced on July 5 without consultation.
“An appeal to the minister to pause the implementation of the new regime of fees and royalty rates payable in the sector.
“This is pending the constitution of a panel of stakeholders and ministry officials to make recommendations to the minister after due consideration of all empirical parameters,” he said.
He said that the forum also wanted a review of the operational guidelines for Mining Marshals engaged in securing mining sites.
According to him, this is to ensure proper coordination of the security outfit to align with and complement the functions of the Department of Mines Inspectorate and Mines Environmental Compliance.
Other demands made by the forum included engagement of stakeholders for consultation toward the review of the Mining Act and the establishment of the Mining Corporation and in policy formulation.
It also demanded a directive to the Solid Minerals Development Fund to take over the management of the N2.5 billion warehoused with the Bank of Industries to provide single-digit interest loans to mining operators.
The forum comprised NMGS, Miners Association of Nigeria, Women In Mining In Nigeria, and Nigeria Society of Mining Engineers.
Others are the Gemstones Miners and Marketers Association, ECOWAS Federation of Chambers of Mines, and Association of Miners and Processors of Barite, among others.

Tags: business
Martins Nwakaji

Martins Nwakaji

Related Posts

Senate Threatens Arrest of NNPCL Boss over missing N210 Trillion
Economy

Senate Threatens Arrest of NNPCL Boss over missing N210 Trillion

2 weeks ago
IPMAN: Dangote’s New Delivery Plan Will Bring Cheaper Fuel to Nigerians’s
Economy

IPMAN: Dangote’s New Delivery Plan Will Bring Cheaper Fuel to Nigerians’s

3 weeks ago
Enforce Transparent Pump Pricing, oil marketers Cheating Nigerians, PENGASSAN laments
Economy

Enforce Transparent Pump Pricing, oil marketers Cheating Nigerians, PENGASSAN laments

4 weeks ago
PETROAN kicks against Dangote’s petrol distribution strategy
Economy

PETROAN kicks against Dangote’s petrol distribution strategy

4 weeks ago

Leave a Reply Cancel reply

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

I agree to the Terms & Conditions and Privacy Policy.

NATIONS NEWS

ADC Accuses Tinubu of Plotting to Derail 2027 Momentum Through Courts
National

ADC Accuses Tinubu of Plotting to Derail 2027 Momentum Through Courts

13 hours ago
Coalition’s ADC takes over of PDP structures in North East
National

Hundreds Dump APC, PDP, NNPP for ADC in Katsina

15 hours ago
Buhari’s death: Tinubu directs all national flags to fly half-mast for 7 days
National

Buhari’s death: Tinubu directs all national flags to fly half-mast for 7 days

15 hours ago
Learn from Buhari’s Mistakes in Appointments, Shehu Sani Warns Tinubu
National

JUST IN: Former President Muhammadu Buhari Dies in London at 81

1 day ago
ADC Questions President Tinubu’s Five-Day Disappearance After 2025 BRICS Summit in Brazil
National

ADC Questions President Tinubu’s Five-Day Disappearance After 2025 BRICS Summit in Brazil

1 day ago
Jonathan Blames Abandoned Niger Delta Projects on Frequent NDDC Leadership Changes
National

Jonathan Blames Abandoned Niger Delta Projects on Frequent NDDC Leadership Changes

1 day ago

POLITICS

Kwankwaso asserts refraining from making comments on political events

Kwankwaso remains NNPP stakeholder, not defecting to ADC — Kano NNPP Chieftain Dungurawa

6 hours ago
ADC Accuses Tinubu of Plotting to Derail 2027 Momentum Through Courts

ADC Accuses Tinubu of Plotting to Derail 2027 Momentum Through Courts

13 hours ago
ADC Questions President Tinubu’s Five-Day Disappearance After 2025 BRICS Summit in Brazil

ADC Questions President Tinubu’s Five-Day Disappearance After 2025 BRICS Summit in Brazil

1 day ago
2027: APC chieftain warns opposition leaders and ADC against reckless statements

2027: APC chieftain warns opposition leaders and ADC against reckless statements

1 day ago
Lagos LG election: APC leading across 57 councils

Lagos LG election: APC leading across 57 councils

2 days ago
Gbajabiamila Says ADC-Led Opposition Coalition Strengthens Democracy, Calls for Voter Education

Gbajabiamila Says ADC-Led Opposition Coalition Strengthens Democracy, Calls for Voter Education

2 days ago

YOUR ECONOMY

Senate Threatens Arrest of NNPCL Boss over missing N210 Trillion
Economy

Senate Threatens Arrest of NNPCL Boss over missing N210 Trillion

2 weeks ago
IPMAN: Dangote’s New Delivery Plan Will Bring Cheaper Fuel to Nigerians’s
Economy

IPMAN: Dangote’s New Delivery Plan Will Bring Cheaper Fuel to Nigerians’s

3 weeks ago
Enforce Transparent Pump Pricing, oil marketers Cheating Nigerians, PENGASSAN laments
Economy

Enforce Transparent Pump Pricing, oil marketers Cheating Nigerians, PENGASSAN laments

4 weeks ago
PETROAN kicks against Dangote’s petrol distribution strategy
Economy

PETROAN kicks against Dangote’s petrol distribution strategy

4 weeks ago
Dangote Refinery Begins Distribution of Petrol Nationwide
Economy

Dangote Refinery Begins Distribution of Petrol Nationwide

4 weeks ago
Nigeria Stock Exchange to Partner with Hong Kong’s Stock market
Economy

Nigeria Stock Exchange to Partner with Hong Kong’s Stock market

1 month ago

E & P

Victor Osimhen Transfer Drama Escalates as Napoli Rejects Galatasaray’s Third Bid
Sports

Osimhen urges Napoli to make Galatasaray deal successful

by Steven Atogi
6 hours ago
0

Turkish football analyst, Mustafa Göksu has claimed that Nigerian striker Victor Osimhen told Napoli’s Sporting Director Giovanni Manna to make...

Victor Osimhen Transfer Drama Escalates as Napoli Rejects Galatasaray’s Third Bid

Victor Osimhen Transfer Drama Escalates as Napoli Rejects Galatasaray’s Third Bid

4 days ago
Oliseh Warns Osimhen Against Galatasaray Return, Urges Premier League Move

Oliseh Warns Osimhen Against Galatasaray Return, Urges Premier League Move

5 days ago
Just In: Osimhen agrees on personal terms with Galatasaray, rejects Al Hilal €75m bid

Just In: Osimhen agrees on personal terms with Galatasaray, rejects Al Hilal €75m bid

1 week ago
Breaking: Galatasaray submits €50m bid for Victor Osimhen

Breaking: Galatasaray submits €50m bid for Victor Osimhen

1 week ago
Chelsea Target Arsenal’s Ethan Nwaneri Amid Contract Talks

Chelsea Target Arsenal’s Ethan Nwaneri Amid Contract Talks

1 week ago

YOUR THOUGHT & HISTORY

El-Rufai Plans New Party as ADC Backup Against APC Interference
Columns

The Shadow Strategist: El-Rufai, the Illusion of Power, and 2027’s Looming Reckoning

by Odini Brains
1 week ago
Columns

Kidnapped, Silenced, Vindicated: The Full Impact of Kanu’s Judgment

by Odini Brains
2 weeks ago
The Emerging Kogi: Economic Growth Impact Transforming Better Reality
Columns

The Emerging Kogi: Economic Growth Impact Transforming Better Reality

by Kiikpoye Karibo
3 weeks ago
ON THE PUBLIC NUISANCE CALLED SOWORE
Opinion

ON THE PUBLIC NUISANCE CALLED SOWORE

by Kiikpoye Karibo
5 months ago
Data Visualizations
Columns

Five Key Considerations for Creating Effective Data Visualizations

by Blessing Chinyere Daniel
6 months ago

Who we are

Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history

Welcome to Umpire News, your go-to online newspaper dedicated to broadening perspectives and expanding the horizons of our numerous readers. Read more

Browse by Category

  • Columns
  • Economy
  • Editorial
  • Entertainment
  • International
  • National
  • News
  • Opinion
  • Politics
  • Sports
  • Trends

Recent News

Victor Osimhen Transfer Drama Escalates as Napoli Rejects Galatasaray’s Third Bid

Osimhen urges Napoli to make Galatasaray deal successful

July 14, 2025
Kwankwaso asserts refraining from making comments on political events

Kwankwaso remains NNPP stakeholder, not defecting to ADC — Kano NNPP Chieftain Dungurawa

July 14, 2025
  • About Us
  • Contact Us
  • Privacy & Policy

© 2024 Copyright Umpirenews. All rights reserved

No Result
View All Result
  • Home
  • National
  • Economy
  • Politics
  • Sports
  • Entertainment
  • Editorial
  • Opinion
  • Columns

© 2024 Copyright Umpirenews. All rights reserved

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
🤑Join & Get Our Easter Gifts 🤑

Enter your NAME & Email NOW!!

Be among the 1st 100 lucky WINNERS to win our Amazing GIFTs this Easter Period as you READ our Daily hot NEWs & make meaningful comments and follow us on our social media handles.

Name
Enter your email address