Nigeria’s President Muhammad Buhari has said the country is expected to generate, from the improved gold mining operations, more than $500 million annually in royalties and taxes and around 250,000 jobs
This was disclosed at the Presidential Villa in Abuja, Thursday during the official presentation of locally mined gold bars by the Presidential Artisanal Gold Mining Development Initiative (PAGMDI) to President Muhammad Buhari.
While receiving the first gold bar from the Presidential Artisanal Gold Mining Development Initiative (PAGMI), flagged off at Yauri, Kebbi State In February this year President Buhari hailed the initiative and reaffirmed the administration’s commitment to establishing gold refineries.
PAGMI which was approved by Mr President in February 2019, is an initiative of the Solid Minerals Development Fund headed by Mrs Fatima Shinkafi, of the Federal Ministry of Solid Minerals Development with Kebbi and Osun as pioneer states. The major objective of the initiative is to formalize the activities of artisanal miners, to conduct their business in a legal, safe, secured and environment friendly manner.
The Central Bank of Nigeria CBN is providing the take-off grant for the gold initiative.
A steering Committee, Chaired by the Chief of Staff to Mr President, Kebbi State Governor as Vice Chairman, Osun State Governor, Honourable Minister of Finance, Honourable Minister of State, Solid Minerals Development, Central Bank Governor, was approved by President Muhammadu Buhari to coordinate the activities of the initiative.
The Senior Special Assistant to the President and Executive Secretary, Solid Minerals Development Fund is the Secretary of the committee.
Since the flag off, thousands of artisanal miners have been registered in the Pioneer states. The gold being presented to Mr President today was sourced from Artisanal miners in Kebbi State.