CurrentReport Blog The Federal Government has approved a groundbreaking N2.5 billion budget for the procurement of satellite monitoring devices aimed at safeguarding key mining sites across the country. This approval was granted during the Federal Executive Council (FEC) meeting on Monday, chaired by President Bola Tinubu.
Strategic Move to Protect Mining Investments
Dele Alake, the Minister of Solid Minerals Development, emphasized that the decision was driven by the need to protect investments within Nigeria’s mining sector. The advanced satellite technology will provide real-time data on mining activities, helping the government monitor operations and prevent illegal mining.
Addressing Challenges in Gold Mining
Alake pointed out that gold mining in northern Nigeria faces unique cultural and logistical challenges, including disagreements over land allocations at the state level. While state governments control land within their territories, the Federal Government holds authority over mineral resources found on the land. This new satellite initiative aims to ensure greater oversight and control over mining activities, reducing the impact of illegal operations.
Tackling the Issue of Illegal Mining
Illegal mining has cost Nigeria trillions of naira in lost revenue and resources. Alake revealed that the government has initiated a new framework to combat this challenge, focusing on stricter regulation and monitoring to curb revenue losses in the sector.
The Minister further highlighted the Federal Government’s openness to collaborating with state governments in areas rich in minerals. This partnership is essential to prevent unregulated mining practices and ensure proper management of the nation’s valuable resources.
With the introduction of satellite monitoring, the Federal Government is taking significant steps toward enhancing regulation in the mining sector. This initiative aims to foster responsible mining practices, protect investments, and reduce illegal activities, contributing to the long-term development of Nigeria’s solid minerals sector.
