The Gemstones Miners and Marketers Association of Nigeria (GMMAN) has expressed strong concerns over what it describes as excessive regulation of the mining sector in Nigeria.
Niran Ajibade, the association’s president, voiced these concerns in an interview with the News Agency of Nigeria (NAN) on Friday in Abuja. He highlighted that the over-regulation is causing significant challenges for mining operations across the country.
Ajibade attributed the situation largely to the interference of state governments in mining activities. He explained that despite mining being on the exclusive list of the federation, state governments are creating confusion by seeking control over mineral resources within their territories for revenue generation.
He noted that state governments have gone as far as establishing their own parallel agencies, banning mining operations, and forming task forces that disrupt activities at mining sites, even burning equipment and infrastructure.
“We are now overregulated, reporting to too many government agencies,” Ajibade said, stressing that these actions are complicating the sector and leading to multiple taxation due to various state-imposed levies.
In response to the growing challenges of gemstones miners, mining stakeholders have appealed to the Minister of Solid Minerals Development, Dele Alake, for intervention. Ajibade emphasised the urgency of addressing these issues, especially as President Bola Tinubu’s administration aims to diversify the economy and attract foreign direct investment.
He also pointed out that for the mining sector to be effectively repositioned, operators need access to affordable funding with single-digit interest rates. This would enable them to expand their businesses and contribute positively to the economy.
GMMAN is also working to support its members by seeking credit facilities from the government and collaborating with relevant agencies to showcase Nigeria’s gemstones in international markets and trade fairs.
