Business
ECOWAS To Enhance Cooperation With Dev Partners
The Economic Commission of West African States (ECOWAS) Commission has said modalities have been put in place to ensure enhanced cooperation with its institutions, member countries and development partners.
President of the Commission, Amb. Kadre Ouedraogo, made the statement at the end of a three-day meeting of the 9th ECOWAS–Development Partners Annual Conference in Abuja on Wednesday.
Ouedraogo, who was represented by Dr Toga Mcintosh, Vice-President of the commission, said the commission had agreed to a “three-level coordination platform” for activities at all levels.
“We have reached a consensus on different coordinators both of each mechanism on ECOWAS and development partners.
“We will be operating at the level of the annual meeting of partners which will meet twice a year; then we have five other thematic groupings made out of partners and ECOWAS in different projects.
“This will help us harmonise our approaches on different projects in the different sectors, then we have another level which is the donors’ community which has ambassadors accredited to ECOWAS where we relate directly with our donors.’’
Ouedraogo said “we took note of the fact that necessary arrangements need to be made by all of us to effectively implement the coordination mechanisms.”
He emphasised the renewed commitment of ECOWAS to the implementation of its priorities, adding that the commission would ensure the implementation of necessary recommendations.
“The major recommendation is that ECOWAS should intensify efforts to advance the reform process.
“On the side of the donors, we recommended that they begin looking at sectors where they want to put in their resources and then earmark the funding and try to deal with them.
“The critical thing we are taking from this meeting is that we are all partners with common goals.’’
He also condoled with the government of the United Kingdom on the death of its former Prime Minister, Mrs. Margaret Thatcher who died on a week ago.
Also speaking, Head of Delegation of the European Union to Nigeria and ECOWAS,Amb. David MacRae, urged the commission to ensure coordinated efforts were made in achieving results in priority areas.
MacRae was represented by Mr Pierre Phillipe, Head of Operations to the European Union Delegation to Nigeria.
He also urged the commission to ensure the effective monitoring of its budget in achieving set targets.
“The European Union and other partners know the challenges the region has faced so it is important that specific emphasis should be made on achieving results in priority areas mentioned.
“There is also the importance of having a forecasting in your budget; budget should be made on a multi annual basis to monitor its release and utilisation,” he said.
Business
Nigeria’s Gold, Other Solid Minerals Being Stolen – NEC
The National Economic Council has expanded the mandate of its Ad-hoc Committee on Crude Oil Theft Prevention and Control to cover illegal mining.
This is just as the council raised the alarm that the nation’s solid minerals, including gold, are being mined and stolen.
Imo State Governor, Hope Uzodimma, who chairs the committee, disclosed this while briefing State House correspondents after the 153rd NEC meeting chaired by Vice President Kashim Shettima at the Presidential Villa, Abuja, yesterday.
Uzodimma said the expanded mandate is part of the government’s efforts to curb resource theft and increase revenue from Nigeria’s solid minerals sector.
“The National Economic Council Ad-hoc Committee on Crude Oil Theft Prevention and Control, which I chair, presented an interim report today to the Council.
“NEC received our report with satisfaction and expanded our Terms of Reference to now also take interest in solid minerals, because our solid minerals are being mined and stolen and not adding to national revenue,” said Uzodma.
He noted that the expanded role would enable the committee to coordinate with the Ministry of Solid Minerals Development and other federal and subnational institutions to combat widespread illegal gold mining and other forms of mineral smuggling that have deprived the country of much-needed foreign exchange.
“Going forward, our committee, working with other government agencies, will look at how to ensure that the revenue of the country arising from solid minerals like gold and other forms of solid minerals are not allowed to be stolen,” the governor added.
NEC’s Ad-hoc Committee on Crude Oil Theft Prevention and Control was first established under former President Muhammadu Buhari in August 2022.
It was reconstituted under President Bola Tinubu in December 2023 with Uzodinma as chairman.
The committee was initially mandated to address the challenge of crude oil theft and pipeline vandalism.
Its creation followed rising oil theft that had crippled national production and forced international oil companies to shut down key pipelines.
At the time, oil production had crashed to around 700,000–800,000 barrels per day, far below Nigeria’s OPEC quota, costing the government billions of dollars in lost export revenue.
Uzodimma explained that through what he called a “collaborative approach” involving regulators, operators, and the security forces, the committee had helped raise daily crude oil production to over 1.7 million barrels per day in the past 22 months.
The governor stated, “Before May 29, 2023, when President Bola Tinubu was sworn in, our crude oil production was around 700,000 to 800,000 barrels a day.
“Working with stakeholders, the regulators, operators in the industry, and the Navy, we were able to involve all the governors of crude oil-producing states and raise different security organisations.
“You would agree with me that as I speak, daily production is now in excess of 1.7 million barrels a day, and cases of pipeline vandalism and vandalisation of oil assets have also been on the decline.”
The council, he said, was satisfied with the progress and decided to deploy the same model of intergovernmental coordination, private-sector partnership, and multi-agency surveillance to the mining sector, plagued by resource theft.
“We are determined to ensure that crude oil production and gas are properly preserved for the benefit of our citizens.
“Now, with this new directive, we will also protect our gold and solid mineral assets,” Uzodinma added.
Nigeria’s illegal mining economy, particularly in gold, lithium, and other high-value minerals, has grown into a multibillion-naira shadow industry.
According to data from the Nigeria Extractive Industries Transparency Initiative, the country loses an estimated $9bn annually to illegal mineral extraction and smuggling.
The Federal Government has linked several unlicensed mining operations to armed groups in the North-West and North-Central regions, where gold has become a source of illicit financing for bandits.
A 2023 NEITI audit also showed that over 80 per cent of mining activities in Nigeria were conducted informally, without licenses or environmental oversight.
In September 2024, the Ministry of Solid Minerals Development revoked over 900 dormant licences and announced plans for a national gold reserve policy. But enforcement remains difficult, with weak surveillance, limited manpower, and overlapping regulatory mandates.
According to Uzodimma, the expanded mandate aims to integrate the fight against illegal mining into the broader national resource protection framework previously used in the oil sector.
“We have done well,” he claimed, adding, “Among other things, we recommended that NNPC, working with security agencies and their consultants, should strengthen security in all the creeks and extend coverage to offshore regions. That will help in curtailing and supervising illegal entries and exits of vessels into our export terminals. This same spirit will now guide our solid minerals sector.”
The committee is expected to submit its first progress report on the expanded mandate at the next NEC meeting in November.
Business
NIMASA Marks 2025 Customer Week, Pledges Service Excellence
Business
SEME Customs Foils Smuggling Attempt Of Expired Flour, Seizes N2bn Contraband
-
Featured3 hours agoFubara Pledges Cleaner Gateway To PH City …Visits New Dumpsite At Igwuruta
-
News7 hours agoWAEC Conducts Trial Computer-based Essay Test Ahead Of 2026 Exams
-
News3 hours agoFubara Vows Full Support For Independent, Effective Judiciary
-
Niger Delta6 hours agoRSG Tasks NIS On Expatriate Attachee Policy
-
Politics3 hours agoTinubu Swears In New INEC Chairman
-
News6 hours ago
Germany Promises Continued Support For Nigeria’s Anti-terrorism Fight
-
News5 hours agoEFCC Arrests 792 Suspects In Investment, Crypto Fraud Crackdown
-
News5 hours agoNew INEC Chair Pledges Free, Fair, Credible Polls
