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Reps Probe N9trn Revenue Loss To Illegal Mining …As Aviation Union Moves Against Nigeria Air
The House of Representatives yesterday resolved to investigate allegations of $50 billion (N1 trillion) loss in gold tax revenue due to illegal mining in the last five years in the country.
The green chambers resolving to set up an ad hoc committee mandated the committee to investigate activities of the ministry of mines and steel development as the organ in charge of all businesses related to all Nigerian mineral resources.
The resolutions are sequel to the adoption of a motion by Hon. Ehiozuwa Johnson Agbinayinma (Edo) at plenary
Presenting the motion , Hon Agbonayinma noted that the mining sector is a key driver in national economic development adding that Nigeria has the fourth largest reserve of bitumen in the world and the second largest iron ore deposits in Africa.
The lawmaker expressed worry that the mining industry in Nigeria is under utilised leading to importation of minerals that could produce be sourced domestically.
He expressed worry reports from the Nigeria Extractive Transparency Initiative (NEITI), indicated that in 2014 and 2015, Nigeria lost about $9 billion to illegal mining operations and gold exportation.
His words “Also concerned that from reports in 2016 by Signal One International (SOL), a privately owned US company, Nigeria has lost over $50 billion in gold revenue tax over the last 2 years as a result of illegal mining and exportation of unprocessed gold.
“ Aware that the former minister of mines and steel development, Dr. Kayode Fayemi identified inadequate tracking as key challenge to effective monitoring of revenue leakages in the nations mining sector”
He therefore explained to the House that going by the current average price of $1.200 per ounce of gold in the international market, the losses run to an unaccounted sum of $4,232.400 daily and $1.544, 826.000 per annum considering one kilogram is equal to 35.27 ounces, going by international rates.
The motion was however not debated, but was appoved by voice vote while the Speaker Yakubu Dogara upheld the vote.
The as hoc committee was given 6weeks to complete it’s investigation.
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RSG INAUGURATES ARMED FORCES REMEMBRANCE DAY COMMITTEE
The Rivers State Government has inaugurated a Central Planning Committee to organize the celebration of the 2026 Armed Forces Remembrance Day (AFRD) in the State.
The committee was formally inaugurated by the Secretary to the State Government, Dr. Benibo Anabraba in Port Harcourt, last Thursday.
Dr Anabraba who also serves as Chairman of the Committee
highlighted the State Government’s deep appreciation for the sacrifices of Nigeria’s fallen heroes who laid down their lives for the nation’s peace and unity.
“These heroes have given their lives for the security and peace of our nation and deserve to be celebrated. The Armed Forces Remembrance Day is an opportunity to show our gratitude for their sacrifice,” he said.
Dr. Anabraba further extended recognition to all Security Agencies in the State, emphasizing the importance of the event in appreciating their contributions to national security and sovereignty.
The annual Armed Forces Remembrance Day, observed on January 15 across the country is dedicated to remember Nigeria’s departed soldiers and honouring the nation’s veterans.
