Nigeria: Abuja Chamber of Commerce Rue Poor Record Keeping in Mining


President of the Abuja Chamber of Commerce and Industry Tony Ejinkeonye has said that poor record of gold mining activities in Nigeria remains a challenge which if not tackled will continue to cost government, communities and miners huge revenue losses.

Making the declaration in Abuja, Ejinkeonye said the Federal Government lacks proper records of mineral resources deposits across the country thereby losing huge amount of revenue that suppose to accrue from it.

"The products in this sector are undervalued and sold at a loss as the country has not shown much interest. Findings revealed that very few companies have gone into mining despite the fact that Nigeria has a record of having deposits of minerals.

"This is due to lack of information and records of the nation's deposits, making it unattractive for serious prospectors' to show interests in the commodity," he said.

He said it was time for the Nigerian government to diversify from crude oil to non- oil mineral resources enriched within its locality.

While urging the Federal Government to give priority attention to the development of the mining sector, Ejinkeonye said "It is time to make available information and design well articulated policies such as external trade and investment guarantee policy on gold activities in the country."

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