The Minister of Mines and Steel Development, Mr. Olamilekan Adegbite has said that government is working on policies that would enable the country to fully harness potentials in gold deposits.
He made this known, while declaring open a gold event tagged “Lagos Love Gold” organized by a private Refinery company in collaboration with the Ministry of Mines and Steel Development.
He said, there were huge gold deposits in different parts of the country waiting to be explored as he assured that the federal government would deepen its activities in the sector by encouraging the private sector to come into mining. “We act as facilitator to entrepreneurs, government is putting policies in place that would harness all these activities and bring out people from the shadows into mining.”
He said government is taking the right measures to discourage illegal exportation of gold and called on those who wish to export gold to do it the right way . “It is legal for people to export gold out of the country, the process is very simple, with 3% royalty paid on the value of the gold you want to take out and by that we give you an export certificate with which you can take your gold to anywhere in the world and sell at premium price” he further explained.
He said the Ministry’s is collaborating with the private refinery as a way to encourage and supportprivate sector driven initiatives. He said the “Lagos Love Gold” is a continuation of the Kano “ Gold Durban” and “Quaga Dore” in Burkinafaso that is harnessing the gold in West African region.
The Permanent Secretary, Dr. Oluwatoyin Akinlade said the Ministry would work with stakeholders and development partners to develop the Nigerian gold mining sector and boost gold activities in the West African sub regions.
The Chairman, of the private Refinery, Nere Emiko said the objectives of the event include to outline practical steps to unlock the value chain and highlight the benefits & role that locally sourced gold must play in Nigeria & region amongst others.