Kehinde Fajobi
Prince Adewole Adebayo, the Social Democratic Party’s (SDP) presidential candidate in the 2023 election, has warned that the scale of looting through illegal mining far surpasses Nigeria’s entire budget.
Speaking on Channels Television’s Politics Today on Sunday, Adebayo expressed concerns over the massive losses caused by illegal mining operations, particularly in Zamfara State’s Bukkuyum and Anka local government areas, where such activities have flourished for over two decades.
In July 2024, Jonathan Gbefwi, Chairman of the House of Representatives Committee on Solid Minerals, disclosed that illegal mining costs Nigeria about $9 billion annually.
He also lamented that only 3 per cent of royalties from licenced miners make it into government accounts.
Adebayo echoed these concerns, describing the situation as a severe drain on the nation’s resources.
He criticised the government’s handling of the sector, questioning the effectiveness of Dele Alake, Minister of Solid Minerals Development.
“Did you notice that Dele Alake has been quiet recently? He needs to tell us how he has improved the revenue from solid minerals.
“This is because what he managed to do was to raise tariffs from licences and miners and create some regulatory pushbacks for us,” Adebayo said.
He further asserted that illegal mining continues to thrive unchecked.
“I can tell you that the amount of money stolen from illegal mining right from Zamfara to Osun, Ebonyi, and Nasarawa here is far more than the entire budget they are writing now,” he added.
Adebayo’s remarks have reignited discussions about the need for stricter regulations and enforcement in Nigeria’s mining sector