Prince Adewole Adebayo, the Social Democratic Party’s (SDP) presidential candidate in the 2023 elections, has raised serious concerns about the scale of illegal mining in Nigeria, asserting that the losses from this sector far exceed the country’s entire annual budget. His remarks were made during an appearance on Channels Television’s Politics Today programme, where he highlighted the severe economic impact of illegal mining on Nigeria’s finances.

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    Adebayo’s comments align with earlier warnings from Jonathan Gbefwi, the Chairman of the House of Representatives Committee on Solid Minerals, who stated in July 2024 that illegal mining is costing Nigeria about $9 billion annually. The problem has been particularly prevalent in regions such as Bukkuyum and Anka local government areas in what is now Zamfara State, which have witnessed rampant illegal mining activities over the past two decades.

    Adebayo expressed frustration with the ineffective handling of the issue, noting that despite some efforts to regulate the industry, illegal mining operations continue to thrive. He pointed to the fact that the country’s licensed miners contribute only a meagre three per cent of the royalties due to the government. This situation, according to Adebayo, represents a significant economic leak, which he believes is severely affecting the country’s financial health.

    The SDP presidential candidate questioned the effectiveness of Dele Alake, the Nigerian Minister for Solid Minerals, claiming that Alake’s recent silence on the issue is troubling. Adebayo asserted that despite raising tariffs on mining licences and introducing some regulatory measures, the government’s efforts have been insufficient in curbing illegal mining. “Illegal mining is still thriving. I can tell you that the amount of money stolen from illegal mining, right from Zamfara to Osun, Ebonyi, and Nasarawa, is far more than the entire budget they are writing now,” he said.

    Adebayo’s comments have sparked further debate on the need for more robust policy solutions to address the growing problem of illegal mining in Nigeria. The country has long struggled with illegal mining activities that not only deprive it of vital revenue but also lead to environmental degradation and social unrest in mining areas. The situation has become a significant challenge for both local and federal governments.

    Adebayo’s concerns are echoed by various stakeholders, including lawmakers and civil society groups, who have called for more stringent regulations and enforcement to combat the detrimental effects of illegal mining.

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