Nigeria can generate quadruple of oil revenue from gold in Zamfara

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Executive Secretary/CEO of Nigeria Extractive Industries Transparency Initiative (NEITI), Ogbonnaya Orji, has underscored the need for the 10th National Assembly to enact laws that will regulate the solid minerals sector with a view to attract foreign investors, noting that the country can quadruple its revenue from oil through gold in Zamfara State.

Orji gave the charge during an interactive session held at the instance of Chairman, House Committee on Public Accounts, Hon. Bamidele Salam (PDP-Osun), who decried the low revenue inflow from the sector.

While giving an update on the work carried out so far in the solid minerals sector, the NEITI helmsman, lamented the activities of illegal miners who take advantage of the institutional lapses to explore various solid minerals without checks.

He specifically noted that Nigeria has only succeeded in exporting sand and limestone in commercial quantities while other solid minerals such as gold, diamond, lithium, among others are being extracted, smuggled out of the country, while the country records zero revenue.

While noting that Ogun State tops the list of Subnational governments that contribute revenue through the solid minerals, he added that Zamfara, Kwara, Nasarawa and Gombe are endowed with gold in commercial quantities.

He said: “In the solid minerals sector, what we have done is enormous and all this information is verifiable on our website. The solid minerals sector is in current state of comatose. We have done extensive work but there’s a lot more that needs to be done.

“In our last report, solid minerals contribute only 0.18% to our GDP. We have here what we have earned in solid minerals from 2007 when we veered into solid minerals, they are all in naira, very paltry amount.

“We did a scopic study that showed that every state in the country, every Local Government is blessed with huge solid minerals in huge commercial quantity. Our report is available and we’ve identified the locations where they are – gold, diamond or any solid minerals.

“But currently, the only solid minerals we are exporting are only sand and limestone, and there are only two major companies that are involved – Dangote and BUA cement.

“And the only company that delved into gold that we have in Ilesha and they are doing very well is Segilola. All the other ones are open to illegal mining. We have diamonds.

“Zamfara State alone can quadruple what we make from oil alone based on the report we have. And not just gold, lithium that are causing serious conflict in Niger (Republic), is in enormous quantity in Zamfara. And only the Chinese know where they are.

“So, Zamfara State, and Nasarawa and Gombe, Ogun States from our report top the list of current contributions of solid minerals to national economy. Bayelsa it’s sand, it has a lot.

“So, there are a lot of inhibitions to private sector participation. We will share the scopic report with you State by State. Kwara is very rich in diamonds, somewhere around Offa. I will send you the solid minerals report.

“What is required is legislation that allows investors to come in easily and go out easily. Now, if you are allowed to come into Abuja to invest in solid minerals, by the time is arrive in the State, land is vested in the hand of the Governor and solid minerals business is local, just like politics,” Orji noted.

Elated by the NEITI helmsman’s presentation, Hon. Bamidele Salam pledged the Committee’s resolve to ensure that Nigeria derives maximum benefits from the solid minerals sector.

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