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Alake Urges British Investors to Explore Nigeria’s Mining Opportunities

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Minister of Solid Minerals Development, Dr Dele Alake has urged British investors to explore opportunities in Nigeria’s mining sector.

Alake made the call when he received the British Deputy High Commissioner to Nigeria, Mr Jonny Baxter yesterday in his office in Abuja.

He stated that Nigeria welcomed the UK’s support for capacity building, technical assistance, and knowledge transfer across the country’s mining value chain.

He said that President Bola Tinubu has approved the establishment of the Nigeria Solid Minerals Corporation to transform the mining sector and lay the foundation for its sustainable development.

According to the minister, the initial set up of the new corporation will be driven by the Ministry of Finance Incorporation (MOFI), with the structure modeled after the Nigeria Liquefied Natural Gas (NLNG) model.

“The Solid Minerals Corporation will be an enduring legacy. No future government will be able to exert any political interference.

“The President has approved this, and we are looking at a 50 per cent equity stake for the private sector, 25 per cent for Nigerians, and 25 per cent for the Federal Government,” he said.

Alake disclosed that in 2025, government planned to create a more competitive and internationally recognised mining sector that would play a significant role in boosting Nigeria’s economic profile.

“We are focused on improving access to mining sites through the development of intermodal transport along the mining corridor, including roads, rail, and waterways.

“Others are Strengthening the regulatory framework, remediating abandoned mining pits for productive use, ensuring investor security and expanding exploration to generate geo-data to attract major players ,” he said.

The minister described 2025 as a pivotal year for President Tinubu’s administration, stating that  the ongoing efforts to drive reforms across various sectors was already yielding results.

“We are encouraged by the support of our international partners for the difficult, but necessary reforms undertaken by this administration. We are already seeing positive trends in the economy, and prosperity is within reach,” he said.

On his part, Baxter commended the Federal Government’s move to model the new Solid Minerals Corporation after the NLNG, and reaffirmed the UK’s continued support in strengthening Nigeria’s regulatory framework.

He described Nigeria’s economic growth as crucial for global prosperity, while assuring Alake of the UK’s continued commitment to enhancing bilateral cooperation in the mining sector. NAN

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Mining Site Explosion: Niger Govt Ban Storage of Explosives in Residential Buildings

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From Dan Amasingha, Minna

Following the recent dynamite explosion in Sabon- Pegi in Mashegu Local Government Area of Niger State, the Niger State Government has banned storage of explosives in residential buildings.

The tragedy had resulted in the loss of lives and property worth millions of Naira.

Governor Mohammed Umar Bago announced the ban when he led both State and Federal Government officials on a sympathy visit to the community yesterday.

He announced a donation of the sum of N174 million to victims.

He was accompanied by the Minister of Information and National Orientation Agency, Mohammed Idris; the Senator representing Niger North Senatorial District and immediate past governor of the state, Senator Abubakar Sani Bello; the Speaker Niger State House of Assembly, AbdulMalik Sarkin Daji; federal and state lawmakers from the Niger State; some State Executive Council members; APC stalwarts; and the Emir of Borgu, Mohammed Sani Haliru Dantoro Kitoro IV among other dignitaries.

Bago directed that N5 million be given to each of those whose houses were totally destroyed, N2 million to those partially damaged, N1 million to the injured, N2 million to the families of the deceased and N1 million each to those whose vehicles were affected.

He said the cash donation is to provide succour to the victims, adding that a committee will be set up to ensure the judicious sharing of the money.

The Niger State Governor acknowledged that the area has large deposit of gold and lithium, thereby attracting artisanal miners, resulting in insecurity in the area as they have explosives and guns in their possessions.

He called on the people to surrender their explosives and other dangerous weapons they use to the committee made up of security agencies, Niger State Emergency Management Agency (NSEMA), National Emergency Management Agency (NEMA), traditional institutions and other relevant stakeholders for safe storage instead of keeping them in their houses.

While sympathising with the victims of the incident, the governor called on the people to embrace the responsible mining policy of the state government for their safety.

The Minister of Information and National Orientation Agency, Idris said the president is deeply saddened by the incident, describing it as man-made tragedy and should not be allowed to recur.

He said the president had instructed that an advocacy and enlightenment campaigns be stepped up by the National Orientation Agency (NOA), particularly to those involved in illegal mining activities to avert recurrence.

The minister stated that the president had directed the Ministry of Humanitarian Affairs and NEMA and other relevant MDAs of the Federal Government saddled with responsibilities to complement the efforts of the state government in ameliorating the sufferings of the people.

He commended the efforts of the state government and promised that the Federal Government will consolidate on them to collectively ensure Nigeria is safer, especially from man-made disasters.

Senator Bello, described the incident as unfortunate and stressed the need for education for the people to engage in best practices in mining activities and then announced a cash donation of N50 million to the victims of the explosion.

In their separate goodwill messages, the Speaker, Niger State House of Assembly, Daji, Member representing Kontagora/Wushishi/Mariga/Mashegu Federal Constituency, Abdullahi Idris Garba, APC National Vice Chairman North Central and Chairman, Bio-Safety Management Agency, Mu’azu Bawa Rijau, commended the show of love and concern that the governor has for the people.

They unanimously condemned the act of keeping dynamites in their houses, calling on the people to desist from such act for their safety.

Earlier, the Chairman of Mashegu Local Government Area, Umar Jibrin Igade, appreciated the governor for the visit and his continuous support to people.

The council chairman revealed that 17 houses were completely destroyed,35 partly damaged and 9 vehicles affected.

He said the council had banned artisanal mining in the local government area temporary pointing out that it had been discovered that many more people are still having dynamites stored in their houses.

The council chairman called on his counterpart in Magama, which is a border local government area, to also enforce a temporary ban on artisanal mining for effective outcomes, while urging the state government for support to that effect.

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Anyanwu, Ude-Okoye Clash at PDP BoT Meeting

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By Johnson Eyiangho, Abuja

Samuel Anyanwu and Sunday Ude-Okoye, the two men who have been in struggle for the position of the Peoples Democratic Party (PDP), clashed at the commencement of the Board of Trustees (BoT) meeting of the party on yesterday.

The PDP is currently entangled in crisis from different fronts.

The meeting had begun with Ambassador Iliya Damagum, Acting National Chairman, and Anyanwu seated before the arrival of Ude-Okoye.

Ude-Okoye came into the hall when Senator Adolphus Wabara, the BoT Chairman, was delivering his speech but Ude-Okoye waited for him to finish before going round to greet those on the high table.

He, however, excluded his rival, Anyanwu.

Ude-Okoye was later forced out of the meeting by suspected thugs, leading to hot exchange of words. As this was going on, journalists were asked to give way for a closed door session.

But Ude-Okoye was seen shouting and urging his supporters to prevent his ejection. He lamented as Anyanwu’s men were allowed into the secretariat, while his supporters were denied access.

As a result of the hot exchange of words between the suspected thugs of Anyanwu and Ude-Okoye, the police were called to restore order for the 79th BoT meeting to continue.

The Chairman, PDP BoT, Wabara urged the party’s National Working Committee (NWC) to honour its word and convene the National Executive Committee (NEC) meeting scheduled for next month.

He said NEC remains the highest decision-making body of the party, and it was crucial that it be convened without further delay to address pressing concerns.

He said it was imperative that the NWC rise above personal interests and place the survival and progress of the party above all other considerations.

The BoT chairman expressed “profound” disappointment over the crisis currently rocking the leadership of the PDP NWC.

“As elder statesmen and women, leaders who hold the trust of the generality of our party members and the public, it is disheartening that these issues have not been resolved. The failure to resolve these internal conflicts undermines the strength and credibility of our party,” he said.

The Acting National Chairman of the PDP, Damagum assured the NWC that  “we will do everything possible” to convene NEC in February.

He admitted that there was crisis in the NWC, saying, “I want to say this with the highest sense of responsibility, part of this crisis that you see today within the NWC is propelled by our leaders that are supposed to unite us.”

Damagum lamented a situation where certain members of the NWC were invited to visit certain places without his knowledge as acting chairman of the party. He said, “I want to use this opportunity to caution us, caution our leaders.”

He added, “As the conscience of this party, some of us are also complicit. We should look inwards, search our conscience. This party is dear to all of us, it is the only thing we have.”

At the end of the 79th BoT meeting, the much anticipated NEC meeting was scheduled for Feb, a communique issued at the end of the meeting said.

The BoT Chairman, Wabara, who read the communique, said, “Acting National Chairman assured the Board of Trustees that the NEC meeting as scheduled in February 2025 will hold.”

Wabara explained that the NEC would hold to address all pertinent issues and reaffirm members shared commitment to the unity, discipline and ideals that bind the party together.

On crisis over the position of the National Secretary of the party presently before the court, the  communique said the Board of Trustees has set up a committee led by Barrister Tanimu Turaki to interface with the parties, study the situation and report to the board for further action.

On the state of the nation, it expressed concern over the worsening economic and security situation, social dislocation, and total sense of hopelessness in the country due to the ill-conceived and ill-implemented policies of the All Progressives Congress (APC) administration.

“The Board of Trustees decries the insensitivity of the APC administration towards Nigerians as evident in the unjustified multiple taxes and failure to stem the increase in the pump price of fuel, electricity tariffs, and telecommunication charges with its crippling effect on the productive sector and unbearable rise in cost of living in the country.

“The Board of Trustees insists that the APC administration lacks the required patriotism, competence, as well as a proficient, transparent, and innovative governance team to effectively manage the nation’s abundant human and natural resources to benefit our citizens.”

It demanded that the APC administration immediately rescind all its anti-people policies and take urgent steps to stimulate the productive sector, create jobs, and revamp the ailing economy.

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LG Autonomy: CBN Begins Direct Funds Allocation Feb

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By Tony Obiechina, Abuja

The Central Bank of Nigeria (CBN) may have extended to February, the deadline for commencement of  direct remittances of Federation Account proceeds to the 774 LGAs in the country.

DAILY ASSET checks revealed that contrary to earlier directives of the Federal Government that the financial autonomy of Local councils should commence in January, the CBN was unable to remit the Monthly proceeds to the Councils.

The apex bank, it was learnt, had issued a directive to all the 774 LGAs in the country to carry out comprehensive audit of their finances as a precondition for commencement of direct remittances from the Federation Account.

However, a source close to the Councils were unable to meet the January deadline for this requirement

Similarly, the source maintained that some of the LGAs were yet to open an account with CBN, one of the necessary conditions for commencement of direct allocation from the Federation Account.

As a result, the 774 LGAs had not received their January allocation, about 10 days after FGN and 36 states of the Federation had been paid.

The Federal Government directive to CBN to commence direct Monthly remittances of Federation account proceeds to the LGAs  was sequel to the Supreme Court judgment on the matter as brought forward by the Federal Government through the Attorney General of the Federation (AGF), Chief Later Fagbemi (SAN)  against the 36 states of the Federation.

The Supreme Court had in a unanimous judgment by a seven-member Panel on July 11, 2024 ruled that it was illegal for funds meant for the 774 LGAs to be paid through the state governments since the 1999 Constitution as amended, recognised the LGAs as an independent (third)tier of government.

The judgment also made it illegal for LGAs with non-elected functionaries to receive proceeds from the Federation Account Allocation. Committee (FAAC) and accordingly restrained both the Federal Ministry of Finance and CBN from remitting funds to LGAs with undemocratic management structures or systems.

In the subsisting arrangements, funds meant for Local Government Councils from the Federation Account are sent to the various states, who disburse to their LGAs through the States’ Joint Accounts Committee (JAC).

This system was allegedly abused over the years as state Governors were accused of tempering with the funds to the detriment of the Local Government Councils, which situation necessitated the legal action by the AGF.

President Bola Tinubu had in a meeting last December 26,  with a delegation of the Nigerian Governors Forum( NGF), which visited him in his Lagos residence said the new measure was taken by his administration in good fate and intended to give financial  autonomy to the Local Governments.

Tinubu’s comments and clarification followed insinuations in a section of the media to the effect that the decision was intended to undermine the authority of the Governors and their powers to administer their states, including the LGAs.

The Governors were said to have frowned at the “hasty” implementation of the Supreme. Court

Judgment as most states had joint projects and programmes being executed with their LGAs.

Some of the joint projects being handled by the Governors and the LGAs were identified as road construction, fertilizer procurement and farming inputs and security issues among others.

Director of Communications, CBN Hajiya Hakama Sidi Ali, who was contacted on the matter said she would get details on the situation and revert to DAILY ASSET. However, she was yet to honour her pledge after one week by Press time.

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