Business
Stakeholder Calls For Policy Regulation For Mining
The Danmasani of Marwa, Kaura Local Government Area of Kaduna State, Shehu Abui, has urged the Federal Government to formulate policies to regulate the country’s solid minerals and mining sector.
He made the call in an interview with The Tide source yesterday in Abuja, saying that mining contributed significantly to the country’s economy before the discovery of oil in commercial qualities.
“If you go to Plateau and some parts of Kaduna state, mining had started, even in Zamfara and Kastina, though not regulated, but they need to be regulated by the government just like the oil industry.
“The truth is that some 50, 60 years ago, Nigeria was very dependent on mining, for example in Plateau, we had tin mining and in the East we had coal mining.
“It was very important for the economy in addition to cocoa production in the West and groundnut and cotton in the North and palm oil in the East”, he said.
He said that though mining contributed a lot to the country‘s economy in the past, it was ignored when the production of oil came.
Abui said it was however, heartwarming that people had started going back privately into mining, but needed to be regulated.
He maintained that there was huge mining potential in country that could boost its economy and development if effectively harnessed, saying that all that was needed was political will.
He expressed optimism that with people like the newly elected president of the Nigeria Mining and Geosciences Society (NMGS), Mr Obadiah Nkom, there was hope for the country’s solid mineral sector.
Abui who said he had known Nkom over the years as a man determined to explore the sector, said with him as NMGS president, results would be produced in the solid mineral sector.
He expressed happiness that with the election of Nkom as the 30th president of the NMGS, the country‘s solid mineral potential would be effectively harnessed.
“He is not just an engineer with determination to make things happen, but a traditional title holder, he is the Ajia of Marwa in Kaura Local Government Area of Kaduna State”, Abui said.
“He had been identified a long time ago as somebody who is determined to serve the country and his immediate community,” Abui said.
NAN reports that Nkom, also the Director-General Nigeria Mining Cadastre Office (MCO), was elected as the NMGS 30th president in March at its 55th Annual International Conference in Enugu.
Nkom at his investiture on Saturday recalled that mining was one of the main-stay of the country’s economy, leading to the establishment and development of cities such as Jos and Enugu where generations were raised.
He noted that the country prior to the discovery of oil and gas in commercial quantity was known for its tin, columbite, and coal.
According to him, political will and a determined populace desirous of forgoing current short-time pleasure and comfort for a secured and sustainable future is required to achieve the full potential of the country’s solid mineral deposits.
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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