The Speaker of the Economic Community of West African States Parliament, Mohamed Tunis, has revealed that Nigeria is experiencing a substantial loss of 91 percent of its mining sector revenue due to illegal mining activities……CONTINUE READING....KINDLY READ THE FULL STORY HERE▶

 

 

 

 

 

 

Tunis made this declaration during the commencement of a three-day seminar organized by the Parliament, focusing on “Illegal mining and its implications in the ECOWAS Region.”

In his statement, Tunis emphasized that an alarming 80 percent of mining activities in Nigeria’s northwest region are conducted unlawfully, resulting in a significant 91 percent loss of potential mining revenue for the country.

While drawing comparisons with other ECOWAS member states, Tunis highlighted the mining sector’s positive impact, contributing 7.5 percent to Ghana’s GDP, 10.2 percent to Burkina Faso’s GDP, and 4 percent to Cote d’Ivoire’s GDP. In contrast, Nigeria lags behind with only 9 percent from the sector, a situation exacerbated by the rampant illegal mining in the North West region.

Tunis underscored the multifaceted consequences of illegal mining, extending beyond financial losses to include insecurity issues such as banditry, kidnapping, thuggery, and, in some instances, insurgency.

To address these challenges, Tunis advocated for stringent regulation of the mining sector, expecting that effective measures would enhance its positive impact on the economies of the Member States.

He urged ECOWAS member states to implement concrete strategies to combat illegal mining, emphasizing the necessity for comprehensive regulation and sustainable solutions. The ECOWAS Parliament, representing 15 member states, serves as a vital platform for regional discourse and collaborative action on critical issues like mining, security, and economic development, with its 115 seats and 14 committees facilitating dialogue and initiatives in the region.