Illegal Mining, Threat to Economic Growth – Olukoyede

Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede, has described illegal mining activities across the country as threats to economic growth and development.

He made this disclosure in Ilorin on Wednesday, January 17, 2024 at the 5th Annual Conference of the National Council on Mining and Mineral Resources Development NCMMRD, themed: “Minerals and Metal: A Panacea for Economic Growth and Diversification”.

According to him, mining without authorization by relevant government authorities constitutes a leakage and threat to the economy and should be tackled. “Illegal mining is not only a threat to our local and national economy, but also constitutes grave danger to the lives of the people.”

The EFCC Chair who spoke through the Ilorin Zonal Commander of the EFCC, Assistant Commander of the EFCC, ACE1 Michael Nzekwe, lamented the rate at which resources in Kwara State are being plundered by artisanal miners, noting that “the resources, if channeled through the right sources and put into good use are enough to sustain the economy of the state and make it self-reliant.”

While commending the Kwara state governor, Abdulrahman Abdulrasaq for being supportive in the fight against corruption and illegal mining, Olukoyede called for the support of all stakeholders in checking criminalities associated with illegal mining, warning that the EFCC would not treat any economic saboteur with kid gloves.

In his keynote address, Abdulrasaq disclosed that his government had recently registered five Special Purpose Vehicles, SPVs, as part of its measures to acquire viable mining sites and make the state a major producer of solid minerals in Nigeria. He noted that each of the 16 local government areas of the state was blessed with abundant and viable mineral resources, with enough commercial quantities for investors willing to tap into the endowments.

Kwara State’s Commissioner for Solid Mineral Development, Abdulqowiyu Olododo says the state government is collaborating with security agencies to ensure the safety of investors within the its borders, adding that “a framework is in place to facilitate works in the state without encroaching upon the existing Federal Mining Act.”

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