Distinguished Senator Orji Uzor Kalu argued that if the country conserves her gold reserves, and ensures effective exploitation, the accruing revenue would surpass that of oil and gas.
Kalu drew the attention of colleagues to section 44 (3) of the Nigerian Minerals and Mining Iaw of 1999 which provides that ownership and control of all minerals in Nigeria is vested in the federal government, which is mandated to manage such natural resources in a manner as may be prescribed by the National Assembly.
In his lead discourse Senator Kalu told the Senate illegal mining is a major factor responsible for the stunted growth in the mining sector.
He said “Distinguished colleagues,you will agree with me that illegal mining is one of the key challenges hindering the development of Nigeria’s mining industry. If we don’t fix this hemorrhage of our economy, we would literally bleed to death.
Senate Committee on Solid Minerals, Mines, Steel Development and Metallurgy is to launch an investigation on the matter and report back to the Senate .
Consequently the committee hereby invites State Governors, the Governor Central Bank of Nigeria, the Hon. Minister of Mines and Steel Development, Minister of Finance, Hon. Minister of State of Mines and Steel Development, the Permanent Secretary and top Management Staff of Ministry of Mines and Steel Development, the DGs/CEOs of Parastatals and Agencies under the Ministry of Mines and Steel Development, the Executive Secretary NEITI,Nigeria Labour Congress, Nigeria Immigration, NEXIM, the BOI,Chambers of Commerce, Mines, industries and
Agriculture, Manufacturers Association of Nigeria, Nigeria Mining and Geo-sciences Society,All Stakeholders,NGOs,CSOs, Artisnal Miners, Nigeria Council of Mining Engineers, Women in Mining Nigeria, Gold Dealers Association and the General Public.
TO A THREE DAY PUBLIC/INVESTIGATIVE HEARING ON THE FOLLOWING BILLS AND MOTION BILLS
i. Nigerian Minerals Development Corporation (Establishment) Bill 2021 (SB.505).
ii. Solid Minerals Producing Areas Development Commission (Establishment) Bill 2021 (SB.713).
iii. Institute of Bitumen Management (Establishment) Bill 2021 (SB.663).iv. Explosive Act 1964 (Repeal and Re-enactment ) Bill 2021 (SB.749).
MOTION
v. Urgent Need to Investigate the Loss of 9 Billion Dollars Annually due to Illegal Mining and Smuggling of Gold.(Sponsored by Senator Orji Uzor Kalu)
Date: Monday 13 September, 2021 – Wednesday 15 September, 2021.
Time: Monday 10: 00 am,
Tuesday – Wednesday 2: 00 pm daily.
Venue: Conference Room 231, Senate New Building NASS Complex.