Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,195,350 members, 7,957,929 topics. Date: Wednesday, 25 September 2024 at 03:15 AM

Prof2007's Posts

Nairaland Forum / Prof2007's Profile / Prof2007's Posts

(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (of 61 pages)

Travel / Re: NAIJA TOURISM: The Whispering Palms, Lagos by prof2007: 2:15pm On Jul 14, 2022
satandeterrible:
If its not on the Island I'm not coming.

But why?

Don't you feel adventurous sometimes?
Travel / Re: NAIJA TOURISM: The Whispering Palms, Lagos by prof2007: 2:51am On Jul 12, 2022
KristaPretty:
It's a very beautiful place. I've been there once, pricy boat ride but worth it!

Yes indeed...worth visiting.

1 Like

Travel / Re: MOTORING NEWS: Fuel Scarcity Paralyzes Commuting In Lagos by prof2007: 10:04pm On Jul 10, 2022
DeFuturePresido:
Nigeria currently produces about 1.42 million barrels per day of crude oil. We have proven crude oil reserves estimated to be worth 237 years cover of local consumption at present levels.

The question then is this: Why are Nigerians going through all this incredible level of suffering?

The short answer is: CORRUPTION!

Every election cycle presents an opportunity to change the narrative. Year 2023 is almost upon us. Let us get our voter's cards ready, let us utilize our intelligence and common sense in choosing who to vote for, let us change Nigeria's narrative for good.

It shall be well with our beloved country!


Absolutely correct!

Travel / Re: MOTORING NEWS: Fuel Scarcity Paralyzes Commuting In Lagos by prof2007: 8:34pm On Jul 10, 2022
devilmaycry:
This country is getting worse by the day

Please vote Obi for a positive change and not those old thieves

Nigerian citizens truly need to vote in leaders that care about their daily trials and tribulations.
Crime / Re: SECURITY ALERT! "7/7 Black Ax Day" In Lagos by prof2007: 12:10am On Jul 07, 2022
Na wah o!

NaijaphiliaBlog:
The Lagos Police Command has announced receipt of intelligence about a 7th of July "7/7" celebration.

This was announced on Wednesday 06July22 by the Police Public Relations Officer, Benjamin Hundeyin: “Hoodlums and cultists” have perfected plans to mark what they call 7/7 Neo .Black Movement of Africa a. k. a. Black Ax Day.

The police vowed to clamp down heavily on “organizers, leaders and progenitors of sinister groups whose aim is to cause violence”. Hundeyin noted that tactical teams, Area Commanders and DPOs, in collaboration with sister agencies, are fully prepared to deal with any attempt to beach the peace.

The Police cautioned parents and guardians to warn their children/wards to steer clear of unlawful gatherings before, during and after July 7th. Hoteliers were also warned not to release their facilities for cult-related gatherings “as owners of such facilities will be liable to prosecution”


SOURCE: www.naijaphilia.com/blog
Crime / Re: FOOD SAFETY ALERT! FG Warns Nigerians Against Fried Foods by prof2007: 12:37am On Jun 27, 2022
Na wa o! Adding dangerous substances to food....all for money?!!!
Crime / Re: CRIME: Interpol Recovers Vehicles Stolen From Nigeria In Niger Republic by prof2007: 2:24pm On Jun 26, 2022
onyekaokechukwu:
Interpol no dey do that Kain work.

Very fake news.

Google is very useful for checking facts...see the Interpol website link below:

https://www.interpol.int/Crimes/Vehicle-crime/Fighting-vehicle-crime
Travel / Re: Nigerian Man Drives Burning Fuel Tanker To Safety by prof2007: 10:33pm On Jun 13, 2022
rickpat:
brave


he deserves a medal

I tell you!
Travel / Re: PHOTO NEWS: The Coral Pavilion In Lagos by prof2007: 11:33pm On Jun 09, 2022
Nice place...
Education / Re: NAIJA POETRY 24: Your Vote Counts! by prof2007: 10:06pm On Jun 05, 2022
Truer words were never written!

Let's get our PVCs ready...Nigeria's 2023 elections are going to be destiny-changing.
Education / Re: Naija To The World: All 9 LL.M Graduands @ Ucalgary Are Nigerians! by prof2007: 1:17am On Jun 01, 2022
This is indeed worthy of celebration... Naija to the world!
Politics / Re: Peter Obi: Mass Resignation Hits Anambra PDP, Ozigbo, Others Leave by prof2007: 7:52pm On May 26, 2022
AminuRano87:

Please how do I write comment on nairaland without quoting anybody?

Just click on "Reply" at the top or bottom of the page.
Politics / Re: Governor Tambuwal Declares 24-Hour Curfew In Sokoto by prof2007: 10:51pm On May 14, 2022
ksmart027:

Sabuwa da kaji baya Hana yanka, find any hausa person to interpret this for you.

Hausa Proverb: "No matter how you get familiar with a chicken that doesn't stop you from slaughtering it"
Jobs/Vacancies / Re: Remote Job Availability by prof2007: 1:40am On May 06, 2022
Realestatevixen:
Good day careerlanders.

Please I am in search of international remote jobs where I can work for foreign organisations from the comfort of my home I'll appreciate legit ones that you can suggest.

I have over 10 years experience in banking and customer service and support.

Thank you.

Try searching on LinkedIn. You can get very good opportunities via the platform.

Best wishes for getting a great job that will move you to a higher quality of life.
Crime / Re: Notice The Person On This Id Is A Criminal This Pe by prof2007: 9:55pm On Apr 16, 2022
Globallog598:
The person on this id is a rapist and a theif so beware +234 701 556 5851 is his phone number and his bag which he left when he was being chase had this id and his cv

It is possible that he snatched the bag from an innocent person - unless (of course) you were able to clearly see his face and match it with his identity card

3 Likes

Nairaland / General / Re: NAIJA FAUNA: Sclater's Monkey by prof2007: 5:28am On Apr 16, 2022
Actually ... in some parts of South - South Nigeria, it is revered as being sacred, and therefore not hunted.

That is the most likely reason why it has not gone extinct.

An educative topic. Thanks @ OP.
Politics / Re: Why Is My NIN Not Valid? by prof2007: 11:25pm On Jan 05, 2022
Contact the email address below. They assisted me with my validation:

ninreg.mobiile@gmail.com

Blesstar:
Gud day Nlanders, Pls someone should explain to me what is going on.
I registered for my NIN in October last year but I did not get the original slip till November ending.
However, after I got the NIN, I tried to link it to my Sim cards but the reply I got was dat my NIN was not valid. I went back to the my registration center and the person told me dat I should wait for 1 month in order for my NIN to be approved by the federal govt. It has been more than the said 1 month now and I still get the same reply: NIN not valid.
Pls is that how it is supposed to be or have I been scammed?
I paid 3k for the NIN and I wonder if it is all a waste.
Pls someone should explain this to me.
Travel / Re: Japan Or Singapore by prof2007: 6:54pm On Dec 28, 2021
@OP:

This is excellent advice from Cousin9999.

Take it from someone who has had first-hand experience. For quality of teaching, the best post-graduation opportunities, the most wholesome social interactions, and the greatest likelihood of eventual self-actualization, follow this order of priority:

1. Canada
2. USA
3. UK
4. France
5. Germany
6. Other Western European countries
7. Australia
8. Asian countries.

Best wishes for good success in achieving your goals.

Cousin9999:


1. Neither is affordable.
2. Neither offers an especially competitive international education.
3. Both will gladly accept you to any uni and take your money while telling you the education is competitive.
4. Singapore is racist. There's no jobs there for you unless you're already working for a foreign firm that sends you there. Even if there were, you would be treated terribly. Japan is also racist. The only jobs available to you are English teaching and factory work. In both jobs, you likely won't be paid (or paid barely anything), will be abused, and will be in unsafe conditions. Japan also has no laws against racism. And any labor laws in Asia mean nothing. Ask any well-educated Asian in a real profession how much those labor laws mean, and watch them laugh. Asia is not Europe. It just looks the part. Don't be fooled.

Focus on west Europe and North America.
Technology Market / Re: Dronut: The Cylindrical Drone Straight Out Of Science Fiction by prof2007: 1:01am On Dec 26, 2021
Very innovative!

However, the life-span of the drone's battery (12 minutes) is really short.
Sports / Re: DID YOU KNOW? Gernot Rohr’s Most Successful Coaching Stint Has Been With Nigeria by prof2007: 11:41pm On Nov 22, 2021
Interesting stats!

Nonetheless, majority of us still want him out. The Super Eagles have not really shined under his tutelage.
Business / Re: Online Loan Operators; After The Defamation, What Next? by prof2007: 11:19pm On Nov 21, 2021
DubaiLandLord1:
The CBN will soon make a law, if you borrow and you don't pay back... Anytime wey money enter the bank account linked to your BVN, them go comot your money with interest sef.

I don't understand why some of una go dey borrow money without paying back.

Bullshit

CBN has already approved the directive since August 2021 and implementation has now started.

1 Like

Travel / Re: Another Accident On Lagos-Ibadan Expressway by prof2007: 8:24pm On Nov 09, 2021
Another one?
Art, Graphics & Video / Re: The Ọkhọkhọ: Cambridge's Jesus College Returns Benin Artefact by prof2007: 1:19pm On Oct 31, 2021
Qualer:
See how that piece is looking clean and well maintained like it was made last year.
By the time you see that thing in another two years, it will be covered in brown dust and chipped off at various edges.
That has been my worry with this clamour for 'return our artefacts'. Where and how are they going to store/keep them so that it will be available like it is now in another 150 years

If the Oyibo man didn't take them, by now there wouldn't have been any artefact to speak of. I have been to a few of the museums in Europe and seen the way they keep and take care of these pieces (these are people's well-paid full time jobs), some of them have not left glass casings in a climate controlled environment for more than a century and it shows in the piece above. The Ife art pieces in the British museum look like they were made two/three years ago and people pay a gate pass of more than 10pounds to view them when they are on exhibition.

Well, let's see how it goes sha... I'm hoping they prove me wrong. cool

Given the poor maintenance culture in these parts, this may be a good idea:

The Oba of Benin / Edo State Government/FG should in due course make an arrangement for the returned artifacts to be periodically and cyclically loaned to museums in Europe /North America for a fee.

The forex thereby earned should go into a trust that will provide scholarships / infrastructure etc for Edo indigenes.
Art, Graphics & Video / Re: The Ọkhọkhọ: Cambridge's Jesus College Returns Benin Artefact by prof2007: 1:18pm On Oct 31, 2021
slowice:
They should ve left these sculptures in the clime where there values will be intact and high. We all want to applauds this though we all know its useless to us.... Let's focus on dealing with the poverty and high cost of commodity ravaging the land first, tackle poor quality leadership before pursuing things like this.

If these weren't plundered by the whites, most of them would be dust by now.. The value it has today is the value given to it by the same white people.

Given the poor maintenance culture in these parts, this may be a good idea:

The Oba of Benin / Edo State Government/FG should in due course make an arrangement for the returned artifacts to be periodically and cyclically loaned to museums in Europe /North America for a fee.

The forex thereby earned should go into a trust that will provide scholarships / infrastructure etc for Edo indigenes.

1 Like

Art, Graphics & Video / Re: The Ọkhọkhọ: Cambridge's Jesus College Returns Benin Artefact by prof2007: 1:08pm On Oct 31, 2021
onumadu:


It is still neither here nor there because the punctuation under the "O" is purely Igbo.
And in Igbo it means "Chicken".

Interesting!

Correctly spelled as "Àkùkọ" in Yoruba, it also means "Rooster".
Crime / Illegal Gold Mining: Foreigners Steal Nigeria’s Wealth Amid Dwindling Revenue by prof2007: 7:28am On Oct 31, 2021
Dark of night was gradually yielding dominance to first light when 75-year-old Yemi Oluwole, a pensioner, took a spot on his veranda. He sat quietly on a sofa, watching forlornly as strangers armed with hand diggers, shovels and buckets stumped along the dusty road that snaked through his frontage to sites they have forcefully taken and converted to gold mining fields in his Itagunmodi village in Osun State.

Oluwole’s expansive farm is one of the hijacked sites, and according to him, the once quiet community has since lost its tranquility to invasion by armed artisanal miners comprising persons from different parts of the country and foreigners alike, including Chinese, Malians and Nigerien nationals.

“Those boys have violated our land and it’s so bad that our traditional ruler was kidnapped and beaten by the criminals before he could escape, yet government folds its hands and watches them steal our assets. When I retired as a civil servant in a ministry in Osogbo, I went into farming to feed my family because my meagre monthly pension is irregular. But everything has gone now; miners have turned our farms to mining fields,” the distressed septuagenarian, who retired into farming about 15 years ago, told our correspondent.

Oluwole is not the only person affected by illegal mining, many others in the community and similar ones have lost their land and livelihoods to the miners.

DEBTS IN THE MIDST OF WEALTH
Meanwhile, inability to pay pensioners promptly is one of Osun State’s economic challenges, despite its enviable gold deposits. The state, like many others endowed with solid minerals, has been enmeshed in huge debts.

As of June 30, 2021, records from the Debt Management Office showed Osun State owed N133.36bn in domestic debt and $90.38m external, as of 30 June 2020. About 2 months ago, Governor Adegboyega Oyetola disclosed the state had no money to finance infrastructure, and his administration had to prioritise payment of salaries and pensions. Sadly, the latter has not even been paid up to date. Yet, migrants are stealing the state’s treasure that ordinarily should turn its fortunes around.

Globally, gold is a treasured, high-priced mineral. In the international market, an ounce of gold, as of Thursday, was about $1,806. According to the 2016 Mining Growth Roadmap by the Ministry of Mines and Steel Development, Nigeria has an untapped 200m ounces of gold, scattered across about 13 states, Osun inclusive. Vice-President Yemi Osinbajo affirmed this figure at a forum in June 2020. Thus, gold alone could fetch Nigeria trillions in dollars, even when the cost of production is deducted.

But for years, government abandoned it and other solid minerals, making it an all-comers affair for illegal and artisanal miners who remit almost nothing to it, while the country battles incredibly low revenue, compelling it to borrow on-stop to the tune of N35tn at the moment, with plans to borrow even more (about N6.2tn in 2022) to finance the budget.

ILLEGAL MINING A NATIONAL EMBARRASSMENT
From Itagunmodi to Igun, Iyere, Igila and other poor, gold-bearing communities in Osun State and Kwali, Daki Takwas, Zugu, Wawan Icce, Yan Kaura and other gold-bearing communities in Zamfara State, and some other states, illegal mining is rife and appears to have come to stay.

President Buhari, Minister of Mines and Steel Development Olamilekan Adegbite, Governors Oyetola of Osun and Bello Matawalle of Zamfara State, and others have condemned the prevalence and involvement of foreigners but nothing has changed.

In addition to those who do it for survival and other economic considerations, some of the miners are believed to be working for top monarchs and government officials, while some security agents protect them on the mining fields. Oluwo of Iwo in Osun State, Oba Abdulrosheed Akanbi, blamed politicians and traditional rulers as sponsors of the miners.

MINING POLICE & MINING BAN
To solve the problem, the President in October 2020 set up a mining police, comprising Inspector-General of Police, Chief of Army Staff, National Security Adviser and others, but one year after, the illicit practice continues unabated.

Even when the President banned mining activities in Zamfara State and declared the state a “no fly zone” due to worsening insecurity, illegal miners simply relocated to Osun State to continue their activities. Instructively, after the ban, two Chinese were arrested for illegal mining. Adegbite later revealed that the miners were working for “Nigerians in high positions of authority” who were mounting pressure on the government to release them.

So far, hundreds of illegal gold miners have been arrested, including some Chinese nationals, but the activity festers like a bad sore. On 4 May 2020 alone, 17 Chinese, 10 locals and one community leader were arrested in Ilesa and Ife areas by Amotekun corps. “The Chinese are the main culprits. Taking gold out of Nigeria illegally is economic sabotage because if you look at the quantum, the value is huge,” Adegbite added.

MASSIVE LOSS OF REVENUE
With the huge revenue the country is losing, Minister of State in the Ministry of Mines and Steel Development, Uche Ogah, advocated capital punishment for culprits. He lamented that private jet owners were aiding gold smuggling.

Sadly, despite volume of activities on mining fields and increasing number of miners, revenue from the sector has remained paltry. Between January and August 2021, Nigeria earned only N2.44bn as minerals and mining revenue, which is less than 1% of N754.16bn received as oil revenue within same period.

Similarly, in 2019, the Nigeria Extractive Industries Transparency Initiative said royalties received from 39 minerals was N2.50bn, with limestone contributing 37.68%, granite 31.31% and gold 0.26%, despite volume of mining activities by illegal miners. The FG revealed the country loses $9bn to illegal mining annually, with little revenue in the sector coming from the 3% royalty paid by few licensed miners.

WHY ARTISANAL MINERS & NOT BIG INVESTORS DOMINATE
Findings by our correspondent revealed that dearth of licensed investors in the sector is largely due to absence of a gold policy and lack of detailed geoscience data that can promote the country’s resource potential, drive investment and help investors make informed decisions.

While many countries, including Ghana, South Africa, Botswana, Democratic Republic of Congo, Guinea Bissau and Asian countries like China and European countries like Russia, have attracted big investors to mine their gold and generating sizeable revenue from the value chain, Nigeria only began the process of coming up with the all-important geoscience data a few years ago.

Director-General of the Nigerian Geological Survey Agency, the agency saddled with the responsibility of generating geoscience data, Dr Abdulrazaq Garba, affirmed that absence of data had made the sector unattractive to big investors. He however pointed out that the National Integrated Mineral Exploration Project, anchored by the ministry and the agency, was among other things, focusing on generating the data.

He told our correspondent in an interview, “You asked why investors are not coming? It is because we didn’t generate our geoscience data in the acceptable format, which is why there is a proliferation of artisanal mining and not the big mining companies. If you don’t have the data, you won’t attract attention. That is essentially what NIMEP is working on providing and our people are on the field already.

“It is an expensive venture but President Buhari is committed to it. If we had started this 10 to 15 years ago, we would have passed this stage and in this time of scarce resources, revenue from that sector would have complemented our revenue, but we depended so much on oil. However, it’s good we are doing it now. Saudi Arabia mines lead, gold and others today because they invested so much of their oil revenue in developing other mineral types. So, if other countries can do it, why can’t Nigeria?”

Garba noted the ongoing process had also helped discover new minerals. “For example, somewhere close to FCT, we were working on gold when we discovered that we have high concentration of wolframite used in toughening steel,” he added. He said if the mineral was found in economic quantity, it would be helpful when Ajaokuta Steel starts operation and could also be exported. In addition to geoscience data, NEITI urged government to expedite action on the proposed national gold policy to arrest further revenue loss and return sanity to gold mining to make it attractive to world class investors.

Also, Vice Chairman, Kian Smith Trade & Co., Ms Nere Teriba, stated that with its huge potential, Nigeria needed a gold policy, adding, “The policy for mining is there and it’s fine. If there is any issue with it, maybe it’s enforcement. The biggest focus for the government should first be the policy for gold.”

NIGERIA’S ENVIABLE MINERAL DEPOSITS
Nigeria is blessed with many minerals, in addition to limestone, crude and a few others already being exploited. Garba revealed that there are about 44 mineral types in 450 locations across the 774 local governments, adding that until their economic quantity was ascertained, they should be regarded as occurrences rather than deposits, even though they have potential for development.

Garba said Nigeria has “very vast” gold with occurrences in Niger, Osun, Kebbi, Kaduna, Kogi, Kwara, Zamfara, Katsina, Kano, Nasarawa and Bauchi states and the Federal Capital Territory, while Wolframite has occurrences in Kaduna, Kano, Bauchi, Niger, Kwara, Zamfara and Nasarawa states same way Lithium has “vast” occurrences and could be found in Nasarawa, Kwara, Kaduna, Niger and Zamfara states.

In Ebonyi, Zamfara, Plateau states, some parts of Benue State and the FCT, there is silver, while Copper associated with minerals like lead could be found in Bauchi, Zamfara, FCT and parts of Nasarawa State. He added, “We also have platinum group elements, cobalt and graphite and from our geophysical investigation, the quality of the graphite we have is good.”

NEITI also added that minerals occurrences in Nigeria include granite aggregate, Laterite, Coal, Shale, Columbite, Tin Ore, Gypsum, Feldspar, Marble, Dolomite, Tantalite, Kaoline, Fluorite, QUARTZ, Basalt, Talc, Manganese, Barites, Zircon, and precious stones like Tourmaline, Topaz, Sapphire, Amethyst and Garnet.

SUFFERING AMIDST PLENTY
Meanwhile, despite being rich in these high-valued minerals, Nigeria has not only left them in the hands of illegal miners, it also spends its limited forex to import some of the minerals. “That is the irony of Nigeria; it imports what it has in abundance and leaves its own resources untapped,” said Dr Akinwumi Adesina, President of the AfDB in his virtual address at the inauguration of Rotimi Akeredolu as governor of Ondo State in February 2021.

For example, Nigeria has huge bitumen deposit – the largest in Africa and one of the largest in the world, but Minister of Works and Housing Babatunde Fashola revealed that government spends millions of dollars to import 0.5m metric tonnes of bitumen for road construction annually.

Adesina noted in the address, “Total value of bitumen reserves in Nigeria could be worth up to $1.5tn, with estimated 16 billion barrels in Ondo State alone. Potential state wealth from bitumen alone could be worth $657bn. The paradox however is that Nigeria spends over N300bn importing bitumen.”

NEITI admitted in its latest report that increased activities in gold mining in recent years did not reflect in production volumes or royalty payments, adding, “Gold has potential to attract foreign exchange for Nigeria. Unfortunately, the mineral has not received the attention it deserves in form of investments. This has been left at artisanal operation and mostly smuggled out of the country.”

While FG’s debt stood at N35tn, the 36 states and FCT that bear the 44 minerals are also enmeshed in debts. Their domestic debts alone was about N4tn as of March 2021, with a state like Zamfara – despite its gold reserve – having N101bn domestic debt as of 30 June 2021 and external debt of $29.64m as of 30 June 2020. In spite of these, governments at all levels are on a borrowing spree to meet their obligations.

Adesina, at the Mid-Term Ministerial Performance Review Retreat organised by the President in October, stressed that the debt issue should be addressed, as he noted that Nigeria’s debt service to revenue ratio was high at 73%.

NIGERIANS PAYING FOR COST OF NEGLECT
The country’s forex earnings have largely been limited to oil revenue accounting for 75.4% of export revenue and 50% of government revenue, which could have been complemented by revenue from solid minerals. Consequently, dollar scarcity has made the naira volatile, pushing the exchange rate to N580 in September. This has however led to high cost of goods, and the impact is severe for many, given the unemployment rate of 27.1% and minimum wageof N30,000 (about $72.9).

Meanwhile, Oyedele noted that the solid minerals sector, if developed, “would provide a source of revenue diversification for the country, including forex earnings to strengthen the Naira in addition to economic development and massive job creation all of which would lead to more revenue for government at all levels.”

IILLEGAL MINING A GLOBAL CHALLENGE
Interestingly, illegal mining is not limited to Nigeria. From Ghana to South Africa, India and several other countries, it is a challenge, but due to regulation and ability to attract major players to the sector, other countries make substantial revenue from mining and it contributes significantly to their GDP.

In 2019 for example, the National Bureau of Statistics report showed that mining and quarrying contributed a meagre 0.26%t to Nigeria’s GDP. In same year, mining and quarrying contributed 12.6% to Ghana’s GDP; contributed 8.2% to South Africa’s GDP and 15.1% to Botswana’s GDP.

The Global Mining Industry Development 2019 Report released by the China Geology Survey under the country’s Ministry of Natural Resources showed that mining contributed over 20% of GDP in over 20 countries, including African countries such as Angola, Democratic Republic of Congo and Equatorial Guinea.

On how Nigeria’s wealth is being siphoned through smuggling, Teriba, who spoke in an interview with CNBC, said government could discourage smuggling by making royalty payable on gold to be commensurate with neighbouring countries, adding that this should be complemented by value addition to gold given the huge demand for products like jewellery by Nigerians.

She added, “If you have Benin Republic and Togo charging 0% royalty, Niger Republic1% and Nigeria 3%, coupled with open borders as a result of ECOWAS treaty, it is regular economics; gold will go to where it is zero per cent.”

NIGERIA, A GIANT MISSING IN aACTION
Despite having huge reserves, Nigeria the giant of Africa, is missing among the big players. Only Ghana, having been able to develop its solid minerals sector, is the only African country among the top 10 gold producers in the world. The World Gold Council in its 2020 ranking released in June 2021 ranked China as the first, followed by Russia, Australia, United States, Canada, Ghana, Brazil, Uzbekistan, Mexico and Indonesia.

Interestingly, Nigeria had a remarkable history in mining, starting with ore mining in 1902, gold in 1914 and coal in 1916, all of which contributed greatly to its development and industrialisation. Specifically, it contributed to construction of its first power plant, rail infrastructure as well as industrial complexes, until things slipped into inertia when government took over mining from foreign companies.

At the moment, only about 4 gold refineries have been licensed in Nigeria, including Kian Smith Trade and Co., Segilola Gold Mining Company, which is listed on the stock exchange for gold mineralisation in Nigeria, and Dukia Gold.

IIN SEARCH OF URGENT & EFFECTIVE SOLUTIONS
Economists and other stakeholders told our correspondent government needs to do more, including formulating right policies and creating investor-friendly environment, if it hopes to generate revenue from the sector.

“Nobody eats potential,” the AfDB president said, pointing out that the insecurity shrinking the investible space should be addressed and the structural bottlenecks limiting productivity and revenue earning potential of the huge non-oil sector removed. “Nigeria should significantly boost productivity and revenues from its non-oil sector,” he added.

But according to a former Minister of Education, Prof. Tunde Adeniran, states should be allowed to tap their resources and pay taxes to the FG. “The constitution that gives the federating units the right to tap their resources and pay taxes to the FG is what we need. These minerals will be properly harnessed for development by the states,” he added.

Speaking on this suggestion as previously canvassed by many other persons, Oyedele said this would help to address neglect of the sector but that more should be done for a definitive impact. He added, “The biggest issue is with respect to ensuring that we have investors-friendly policies and legal framework as well as a safe and secured environment for private sector investors, both domestic and international, to come into the sector.”

Similarly, Teriba stressed need for Nigeria to work on adding value to its gold to maximise revenue. “In Kano market, they have about 20,000 visitors from across West Africa, so the potential is huge,” she said. “From our research, if you go to Italy, Dubai, India, they know Nigerians when talking about Africans who come to buy gold, so the demand is there.”

A political economist, Prof Pat Utomi, shared a similar view. He said Nigeria should be talking about how to add value to its gold as it would generate more revenue and create jobs. He explained a model he believed could work, “We can have an integrated produce and mining city, about 500-hectare estate, which would be focused on mineral beneficiation – value addition.

He stated, “Artisanal miners from several states would go there with their gold. We can locate one or two central processing beneficiation units and add value to them there. Those who want to use the products locally or export would buy from there. You tax the people working in this vast industry and you would generate revenue. That is what we have failed to do. We will make a lot of forex if we adopt this approach because we are adding value to our mineral.”

He stressed that gold was more profitable when value had been added to it, noting that raw gold sold for N100,000 by a miner could be worth $20,000 once value had been added to it. He added, “Chinese and others are taking away these minerals and making huge money from them outside the country, whereas we could have created hundreds of thousands of jobs from that value chain. Government would generate revenue from taxes on the products and on those jobs. That is a lot more than whatever you would get from the raw gold or the stones.”

Meanwhile, the US Agency for International Development warned that illegal and unregulated mining generates billions of dollars in illicit funds for crime, contribute to armed conflict, fund criminal networks, damage the environment and deprive the populace of widespread prosperity they are entitled to. These might continue to be Nigeria’s lot if it fails to quickly sanitise the sector.

SOURCE (abridged): https://punchng.com/illegal-gold-mining-foreigners-steal-nigerias-wealth-amid-dwindling-revenue-mounting-debts/

4 Likes 2 Shares

Travel / Man's Nasty Experience With Nigerian he Offered Temporary Accommodation In NY by prof2007: 8:45am On Oct 29, 2021
A Nigerian man has narrated his experience with a Nigerian immigrant he offered temporary accommodation in New York. He said he allowed the man, who was his friend from Nigeria, to stay in his New York apartment for 2 weeks.

However, the man extended his stay to 1 year and 6 months. The friend then brought his wife and child from Nigeria to also stay with him in the house, making the real owner of the house uncomfortable in his own house.

The homeowner said he had to go back to his father’s house, leaving his house for the Nigerian man and his family. When the man wouldn’t leave on his own, he said things got messy and the man eventually grudgingly left his house, and they have cut ties since then.

Based on his experience, he advised people to do the needful early before things get out of hand. Read his tweets below...

SOURCE: https://www.hitng.info/man-narrates-experience-with-a-nigerian-immigrant-he-offered-temporary-accommodation-in-new-york/

1 Like

Politics / FULL LIST: FEC Approves NNPC’s Request To Fix 21 Federal Roads At N621bn by prof2007: 9:57am On Oct 28, 2021
The Federal Executive Council (FEC) has approved N621.2 billion for the Nigerian National Petroleum Corporation (NNPC) to take over reconstruction of 21 federal roads across the 6 geopolitical zones of the country. Babatunde Fashola, minister of works and housing, disclosed this after the FEC meeting presided by Vice-President Yemi Osinbajo on Wednesday.

The National Union of Petroleum and Natural Gas Workers (NUPENG) had decried loss of its members and properties to dilapidated roads, but NNPC appealed to the union to shelve the planned strike and accepted to rebuild some roads.

The approval, according to Fashola, was in line with Executive Order No. 007 of 2019 cited as the companies income tax (Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme) Order, 2019 (“EO7 of 2019” or “the Scheme”), signed by President Muhammadu Buhari. He explained that the selected 21 roads are 1804.6 kilometres, and it was a strategic intervention under the FG Road Infrastructure and Refreshment Tax Credit Scheme.

The minister further explained that Executive Order 7 allows the private sector to deploy in advance the taxes they would pay for infrastructure development. He said 9 of the selected projects are in north-central, 3 in north-east, 2 in north-west, 2 in south-east, 3 in south-south, and 2 in south-west.

HERE IS THE FULL LIST:

NORTH-CENTRAL
1. Dualization of Ilorin-Jebba-Mokwa/ Bokani Junction road Section 1: Ilorin-Jebba, Kwara State C/NO. 6468 = 110.8km
2. Dualization of Ilorin, Jebba-Mokwa/Bokani junction Road Section II: Jebba-Mokwa-Bokani junction in Kwara and Niger states. C/NO.6469 = 46 km
3. Dualization of Suleja-Minna road, Niger state. C/O. 6077 = 40km
4. Dualization of Suleja-Minna Road, Niger State Phase II (Km 40+000-101+000) C/NO.6267 = 61km
5. Reconstruction of Bida-Lambata Road, Niger state C/NO.6372 = 125km
6. Agaie-Katcha-Baro Road, Niger State = 52.3km
7. Emergency repairs of failed section of Mokwa-Makera-Tagina-Kaduna state border in Niger state = 164km
8. Minna-Zungeru-Tagina road, Niger state = 90km
9. Bida-Minna road, Niger state = 791.1km

NORTH-EAST
10. Rehabilitation of Cham-Numan section of Gombe-Yola road in Adamawa state = 46.35km
11. Construction of Bali-Serti road in Taraba state = 110km
12. Rehabilitation of Gombe-Biu road in Gombe/Borno state = 117km

NORTH-WEST
13. Rehabilitation of outstanding sections of Gada-Zaima-Zuru-Gamji road Phase II in Kebbi State = 62km.
14. Rehabilitation of Zaria-Funtua-Gusau-Sokoto-Birnin Kebbi = 221.5km

SOUTH-EAST
15. Dualization of Aba-Ikot Ekpene road in Abia/Akwa Ibom states = 73km
16. Rehabilitation of Umuahia (Ikwuano)-Ikot Ekpene road: Umuahia-Umudike in Abia state = 49km

SOUTH-SOUTH
17. Rehabilitation of Odukpani-Itu-Ikot Ekpene road in Cross River state Section I: Odukpani-Itu Bridge Head in Cross River/Akwa Ibom states = 21.9km
18. Dualization of outstanding portion of Odukpani-Itu-Ikot Ekpene: lot 2 = 32km
19. Dualization of Oku-Iboku Power Plant Section of the Odukpani-Itu-Ikot-Ekpene road in Cross River/Akwa Ibom state = 28km

SOUTH-WEST
20. Rehabilitation and expansion of Lagos-Badagry Expressway (Agbara Junction-Nigeria/Benin border) in Lagos State = 62km
21. Dualization of Ibadan-Ilorin road (Route A2) Section II in Oyo State (Oyo-Ogbomosho) = 52km.

SOURCE: https://www.thecable.ng/full-list-fec-approves-nnpcs-request-to-fix-21-federal-roads-at-n621bn

Crime / Re: Woman Dies After Husband Sets Lagos Home Ablaze During Fight by prof2007: 7:25pm On Oct 26, 2021
BKsoul:
When he gets to jail.... a fellow man like him call him names and ask him to fan him, and he will do it without grumbling.... so you see its penny wise, pounds foolish....

...And he may eventually be sentenced to death, if found guilty of murder. The death penalty is authorized by Section 33 of Nigeria’s Constitution, for crimes including murder.

1 Like

(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (of 61 pages)

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 92
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.