Stop illicit mining, stakeholders warn as Nigeria loses N13.7trn

Stakeholders have warned that Nigeria is losing an estimated N13.7 trillion annually to illicit mining and illegal trade in solid minerals. They called for stronger enforcement, regulation and monitoring of the sector. The stakeholders said continued exploitation and movement of valuable minerals outside the regulatory framework deprive government of revenue and expose mining communities to environmental, security and economic risks. They spoke amid concerns over enforcement of the Minerals and Mining Act, 2007, which prohibits exploration and exploitation of mineral resources without lawful authority, valid licences or appropriate leases.

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