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How to tackle Nigeria’s mining's challenges - Miners Association President
According to the Nigeria Extractive Industries Transparency Initiative, investment to Nigeria’s mining sector has been marred by low policy perception index and weak regulatory architecture among others. Sani Shehu, National President of the Miners Association of Nigeria joins CNBC Africa to discuss solutions to the challenges in Nigeria’s mining sector.
Mon, 04 Mar 2019 11:29:26 GMT
Disclaimer: The following content is generated automatically by a GPT AI and may not be accurate. To verify the details, please watch the video
AI Generated Summary
- Historical evolution of Nigeria's mining sector from colonial times to the dominance of artisanal and small-scale miners.
- The importance of formalizing artisanal and small-scale miners to ensure compliance with mining regulations and promote sustainable growth.
- Government's role in supporting and structuring artisanal and small-scale miners through targeted funding structures.
Nigeria's mining sector has faced numerous challenges over the years, leading to a dominance of artisanal and small-scale miners in the industry. The history of mining in Nigeria dates back to the colonial period when big foreign companies made significant investments in the sector, following mechanized processes and regulations set by the government. However, with the shift in focus towards the petroleum sector and the departure of foreign investors, the mining sector was neglected, paving the way for artisanal and small-scale miners to take over. While the presence of these small-scale miners is not inherently wrong, there is a need for formalization and adherence to proper mining procedures to ensure sustainable growth. This formalization process requires government intervention to support and structure these miners into formal groups, such as cooperatives for artisanal miners and mechanization for small-scale miners. The Miners Association of Nigeria has been advocating for government action to fast-track this formalization process and has seen some encouraging responses from the government. Despite the allocation of funds to the mining sector, challenges remain in accessing these funds due to bureaucratic formalities that do not align with the unique characteristics of artisanal and small-scale mining operations. There is a pressing need for targeted funding structures that consider the mobility and natural characteristics of artisanal miners and the limited machinery capacity of small-scale miners.
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