President Muhammadu Buhari on Wednesday gave marching orders to the Presidential Artisanal Gold Mining Development Initiative, to provide a six-month progress report on the Solid Minerals Development Fund, designed to capture accruals from investments.
The President gave the directive at a briefing by the Steering Committee and Management Team of PAGMI at the presidential villa, Abuja, according to a statement by his Special Adviser on Media and Publicity, Femi Adesina.
He said the presidential directive was to further ensure probity and best practice in the mining sector.
Burhari at the meeting urged the team to scale up operations in the mining sector by ensuring that investments go beyond artisanal and small-scale levels, the statement said.
While Nigeria has focused its attention mainly on crude oil, the country has at least 34 solid minerals in commercial quantities, but these have remained largely untapped. These include marble, coal, iron ore, gold, silica, lead, zinc, tin ore, manganese, granite, laterite, limestone, barite, among others.
According to the statement, the president charged the team to scale up operations in the mining sector by ensuring that investments go beyond artisanal and small scale levels.
“The PAGMI Management Team should now develop innovative ways to move PAGMI to the next level to ensure the Nigerian mining story goes beyond artisanal and small-scale mining,” the statement quoted the president as saying.
“I support the Steering Committee’s target of aggregating 3-5 tons of gold over the next 12 months, as this will deliver tremendous fiscal and economic benefits to the nation.
“The Solid Minerals Development Fund should work with all relevant Government agencies to identify the support and funding needed to deliver on this aggregation target.
“Now that you have successfully delivered a pilot scheme in Kebbi State, it is time to roll out and expand sustainably across other Sates. The Government is committed to providing all the necessary support required,” he said.
“The dedication of a portion of accruals to create a sustainable income stream for the Solid Minerals Development Fund is essential to delivering the mandates assigned to the Fund. The development of a sustainable funding stream for the Fund will conclude the implementation of the Fund’s Establishment Act, which is a key focus area for this Administration.
“This initiative is of great pride to me because through our intervention we can reach hardworking Nigerians in the field, toiling and the quarries under the sun trying to earn an honest living.
“We have been able to protect them from clutches of those who exploit their hard labour, while simultaneously bringing them into the value chain to earn improved income from their hard work. I expect a six-month progress report that will clearly show significant progress by scaling up the program from its current pilot stage.”
“I am particularly pleased with the coordination and integration aspects of the document.
“I want to commend the Central Bank Governor for his support of the Solid Minerals Development Fund in the delivery of PAGMI, particularly in the commitment to paying a fair price to support the artisanal miners and providing a market for PAGMI. The Honourable Minister of Finance, Budget, and National Planning is to be commended also for her support in increasing the capitalization of PAGMI through the already approved facility.”
The Chief of Staff, Prof Ibrahim Gambari is the Chairman of the PAGMI, with the Governor of Kebbi State, Abubakar Atiku Bagud, as Vice-Chairman of the Steering Committe
