A former Vice Chancellor of the Amadu Bello University, (ABU), Professor, Ibrahim Garba has tasked the Federal Government on improvement in the regulatory framework to revitalised productivity in the nation’s mining sector.
Professor Bello gave the charge at a two-day forum themed: “Addressing The Gaps in The Mineral Sector of Edo State” organised by the Ministry of Mining, Oil and Gas in conjunction with The Revenue Mobilization Allocation and Fiscal Commission.
According to him, there is a huge difference between revenue accruing to the Federation account and the quantity of exploration in the sector. Explaining a high proportion of revenue is being lost to illegal mining activities.
He said: “There is need to understand the history of Mining in Nigeria to enable government design and Manage policy at the State level. It is proposed that the sector be run by private investors while government serves as regulator to effectively improved productivity and compliance by operators in the sector.”
The Ex-varsity don said that illegal mining in the sector has resulted in lost of royalty payment and consequently low revenue for the government. He said to effectively address this anormally, the Federal government shoul as a matter of urgency should strengthened the Inspctorate Unit in order to curb the activities of illegal miners, digitilized mining license processes and innovate to make the business easy for investors.
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