By Ruth Tene Natsa, Abuja

The Minister of Mines and Steel Development, Dr Kayode Fayemi has said Nigeria exports over $3 billion worth of gems annually.

This is even as he lamented that the local mining industry for gems remains at its primitive level of shovel and digger.

The Minister stated this in his welcome address at the Africa Gems and Jewellery Exhibition and Seminar (AGJES) 2017 Exhibition and Seminar created by Mina Stones,with theme Mines to Market,in Abuja Thursday.

Mina Gem and luxury Jewellery company was founded by Lotanna Amina Egwuatu)

According to Fayemi “In past years, the gemstone sector had largely been a vehicle for money laundering, with the average dollar value of Nigerian gems exported put at over $3 billion dollars annually.

He said “The local mining industry for gems remained at its primitive level of shovel and digger and Nigeria’s vast untapped gemstone resource was not being optimally exploited for the benefit of Nigerians.

Dr Fayemi said the essence of the AGJES is to bring stakeholders together to discuss how to grow this specific segment of the mining industry, noting that the Roadmap identifies Gemstones among the nation’s diverse mineral resources as high value commodities that have the potential of significantly contributing to priority goals of Economic Diversification, Wealth Creation and Jobs Creation.

He noted that Gemstone is a more extensive value chain with relatively lower risk profile, noting that in spite of the huge potentials in gemstone mining, phenomenal loss of revenue and damage to the environment remain major causes of concern due to the uniqueness of the occurrence of gem deposits and the quantity to value per quantity advantage of gemstones which make illegal activities and smuggling rampant, thus the inability of the sector to deliver on expected economic outcomes.

Dr Fayemi assured that the goal of their reforms have been to ensure proper organisation of the gemstone sector from prospecting, to exploration, to mining, processing and marketing of gemstones in Nigeria; with emphasis on regularising the activities of the artisans who mostly engage in it.

“Our strategic policy thrust have been centered around a number of objectives including centralising all gemstone sector activities, ensuring transparency, halting personal exports of minerals which have, hitherto, abetted smuggling and other sharp practices ensure accurate records of sources of gemstones (state of origin), ensuring due process, in line with international best practice, in our gemstone mining and marketing activities and ensuring artisans and dealers get good prices for their gemstones in Nigeria.

Presenting the keynote wife of the Vice President, Mrs Dolapo Osinbajo said Nigeria was richly endowed with remarkable gems including Sapphires,tourmaline ,aquamarine, emeralds,garnets, topaz, amethyst and Gold spread across various states and much more yet to be discovered.

She noted that 80% of colored stones supplied comes from Artisanal and Small-scale Miners(ASM).

Speaking earlier, Co convener of AGJES Lotanna Egwuatu said “the Nigerian Gemstone industry has not been able to convert the abundance of natural gemstone resources into foreign exchange earnings,adding that the traction in the industry was further compounded by loss of creative talent in the Jewelry industry

Blue3k:
The North is really cheating itself all these years it's terrible. 3 billion dollars laundered away.

Tolexander:
These gems are not exclusive to the north, but the entire country.

Though the largest percentage are concentrated in the Northern part, abundant in Kaduna and Nasarawa states.
There are still considerable quantities in the south western states (Osun and Oyo majorly).

python1:
Is it that no revenue earning resources can ever come from the mud?

Jetleeee:


Stop being ignorant. Mud states are the largest producers of Abiama cement in the country

The Abiama Cement plant in Nnewi, Anambra, is the largest in Sub-Saharan Africa with 10.25mmtpa capacity across three lines and a further 3mmtpa capacity is currently being built.

python1:

You don't mean it.

Jetleeee:


I ain't lying bro

Jetleeee:

I ain't lying bro
]

python1:
Is it that no revenue earning resources can ever come from the mud?

python1:
Now I know better. Mud is not barren afterall.

JideAmuGiaka:

Blue3k:


Source: http://leadership.ng/2017/10/19/nigeria-exports-3bn-worth-gems-annually-fayemi/

Front Page: Lalasticlala

Rmxr:


Why are you quoting everyone

JideAmuGiaka:



Python1 see their revenue earning resources here, jetleeee will laugh at you now.

python1:
Lame.

python1:

What are they saying?

JideAmuGiaka:



What they are saying concerning your condition and that of jetleeee is that......

python1:

You are still missing the point. I said "LAME", don't you understand what that means?

JideAmuGiaka:



I am not interested in your second name.

python1:
Okay, stop quoting me then. Is an English word though, not a name.

JideAmuGiaka:


I will continue quoting you till you stop derailing threads.

igbodefender:
Then, what are we doing in recession?!

WeirdoNg:
What's wrong with these guys above?

Blue3k:


The vast majority is done illegally. That's why I feel states cheat themselves.

Jetleeee:


Stop being ignorant. Mud states are the largest producers of Abiama cement in the country

The Abiama Cement plant in Nnewi, Anambra, is the largest in Sub-Saharan Africa with 10.25mmtpa capacity across three lines and a further 3mmtpa capacity is currently being built.