Nigeria to ban mineral resources export

Plans are underway by the Federal Government to stop mineral resources export from the country, the Minister of Mines and Steel, Dr Kayode Fayemi has disclosed.

Speaking in Abuja recently on the theme, ‘operationalising the framework for globalising our national economy’ at the 6th Sustainability in the Extractive Industries (SITEI) conference, Fayemi, said at the expiration of the 18 month ultimatum set for the stoppage of raw mineral export, it would sanction perpetrators of such acts.

He hinted that in order to encourage local process of mineral resources, Federal Government is now ready to assist firms involved in minerals beneficiation with processing plants.

His words: “Even the mineral types that are available in Nigeria, people prefer to just take them out raw, and they lose a lot of money. Government is not in the business of buying but we are in the business of discouraging raw exportation of Nigeria raw mineral types. And we are working with the Customs on this. We are also encouraging many of our companies, giving them 18 months before we start coming down heavily on them; and that 18 months ends in 12 months’ time since we made that pronouncement.

“So, we do not take kindly to raw exportation of our minerals because it be processed, beneficiated, and there are companies that are adding values now to what the produce. We need to also work with them or we need to support those who need lifting up to put in place processing plants, beneficiating plants.”

The Minister urged all the stakeholders to work towards the removal of investment barriers that discourage global players from the country’s mining sector.

He disclosed that the Federal Government issues mining licence to investors in the sector, while the state governments are responsible for the issuance of Certificates of Occupancy (CoC), for the same piece of land and in most cases prevent the investors from operating in the field.

He therefore insisted that global players would not want to do business in an environment where there are different layers of bureaucracies.