Category: Economy

FG warns against illegal mining operations as another tunnel collapses

Collapse
By Martha Agas
Abuja, June 15, 2024(NAN) The Federal Government has warned against illegal mining operations and cautioned land owners against the activity.

The Minister of Solid Minerals Development, Dr Dele Alake, issued the warning in a statement by his Special Assistant on Media, Segun Tomori, on Saturday in Abuja.

The warning was issued in the aftermath of another incident of a mine collapse in Niger, which reportedly claimed three lives.

The News Agency of Nigeria (NAN) reports that the collapse occurred on Thursday at Bazakwoi, a village in Adunu community, Paikoro Local Government Area of Niger, where local miners were reportedly illegally mining for gold.

NAN recalls that a similar incident occurred on June 3 at Galadima Kogo, Shiroro LGA of Niger State, where more than 30 people were reportedly trapped.

According to the statement, owners of licenced units of land mined by illegal miners will lose their titles.

The minister stated that preliminary investigations showed that the collapsed mine was in an area under Exploration Licence 43113 of JURASSIC MINES Limited in Adunu Village, Paikoro Local Government Area, Niger State.

It stated that an exploration licence was  given to an applicant to confirm if the site was suitable for the proposed mineral exploration, but does not authorise the applicant to engage in mining.

While addressing the ministry’s response, Alake confirmed  receiving news of the accident around 4:45 pm on Thursday, where three people died in a gold mining tunnel collapse at the site.

He further stated that inquiries revealed that the  miners were operating illegally.

“The ministry promptly mobilised its mine officers, who arrived at the site around 6:15 pm.

“Officials were informed that three men were killed in the accident and have since been buried.

“At the time of the visit, work had stopped at the site, and only onlookers were seen. The coordinates of the site were taken, and officials returned to Minna at about 8.30 pm.

“The owners of the company were contacted by phone, but they claimed ignorance of happenings in the site. They were then summoned to the office in the state capital,” he said.

The minister stated that he would communicate further developments as they unfold.(NAN)(www.nannews.ng)
MAA/YGA

Edited by Gabriel Yough

Empowered youths will be driving force behind emergent global Africa- Afreximbank

Youths
By Okeoghene Akubuike

Abuja, June 15, 2024(NAN) Mrs Kanayo Awani, Executive Vice-President, Intra-African Trade Bank, Afreximbank, says empowering the youths will be the driving force behind the emergent global Africa.

Awanu said this at the ongoing 31st Afreximbank Annual Meetings (AAM2024) in Nassau, The Bahamas.

The meetings are being monitored by the News Agency of Nigeria (NAN).

She said the youths, creatives and innovation were three powerful catalysts of Africa’s successful economic development.

Awani said a common feature of the demographic structure of the African and Caribbean regions was the dominance of youths who represented 70 per cent of the combined population of the two regions estimated at 1.4 billion.

She said the youths, when well harnessed and empowered, hold the key to a shared aspiration of economic transformation.

“Their creativity and innovation can reshape our economies and drive us towards a prosperous future.

“At this significant juncture in our collective journey, we must recognise that we need an empowered youth, fed with sufficient capital, and given the right tools, education and training.

“Also, giving them unfettered access to affordable modern technology and capacity for innovation, enabling market access, will constitute the driving force behind the emergent global Africa.

“This emergent global Africa envisions a unified and prosperous Africa and the Caribbean leveraging our shared resources, talent and innovation for economic growth and development.”

Awani said it was the duty of policymakers and agents of development to create a conducive environment and install supporting systems for the youths. .

She said Afreximbank had continued to support African youths through several initiatives like the Youth Alliance for Leadership and Development in Africa.

“We renewed our partnership with the Grand Africa initiative as well, aiming to train 300 young entrepreneurs in intra African trade and entrepreneurship.

“ The bank’s SME development programme as well supports Small and Medium Scale businesses.”

Awani said Afreximbank, through its Creative African Nexus (CANEX) Programme, was supporting creative and cultural industries, which helped African and Caribbean brands to reach international markets.

She said yearly, the bank supported the Portugal and Paris fashion shows, which gave the designers in Africa and the Caribbean a platform to expose them to global brands.

NAN reports that the 31st AAM2024 is being held in Nassau, The Bahamas from June 12 to June 15.

It has the theme: “Owning our Destiny: Economic Prosperity on the Platform of Global Africa’’(NAN)(www.nanews.ng).

OKE/VIV

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Edited by Vivian Ihechu

Gas

By Lucy Ogalue

Abuja, June 14, 2024 (NAN) Mr NJ Ayuk, the Executive Chairman, African Energy Chamber, says finance is critical to implementing domestic gas on the continent.

Ayuk said this while virtually presenting a keynote address at the ongoing Two-Day 2024 African Gas Innovation Summit (AGIS) on Friday in Abuja.

“If we must make domestic gas work in Africa, we must start looking at how we finance that.

“All African utilities except the ones in Seychelles, Mauritius and Morocco are bankrupt. They are not making money. We just have to take a big step on where we are.

“Most of the gas off-takers in Europe are European utilities. Our utilities in Africa are not able to be gas off-takers.

“I think we need to start driving how we can fix our utilities, but also how we take up our energy infrastructure,’’ he said.

According to Ayuk, having gas is not enough without being able to drive that gas through a sustainable, well-built infrastructure on the continent.

“The continent needs infrastructure to drive gas around Africa.

“And then we need to take care of our energy poverty issues, clean cooking issues and even manufacturing and development.

“There is so much need on this continent at the present moment; flaring, steel issues, and domestic gas can pave the way for us to solve that. But we also need to think a little bit differently.

“And I urge participants in this conference to play that role in thinking differently.”

He said it was a shame that the Nigerian gas demonetisation on the flaring project stalled and urged it to be ramped back up because Africa moves when Nigeria moves. When Nigeria talks, Africa talks.

“There is no need to have so many projects stuck in the hands of bureaucrats and regulators that stifle free markets, ingenuity, and innovation.

“Innovation goes when you get all these entrepreneurs out there thinking about big ideas, and then they try to find solutions and deal with a very difficult environment to get financing.

|”And you bring that financing, and the bureaucrats, some of them unelected, get to sit on those projects and kill it. We are killing our prosperity.

“So I want to urge this conference that we deal with those issues around fast-tracking approvals, streamlining the permitting process, and getting our people to move,’’ he said.

Ayuk urged government officials, regulators, and policymakers to avoid putting more roadblocks to domestic gas development and streamline and move very quickly for the continent’s benefit.

He restated the importance of incentivising domestic gas and making it bankable, as bankability was key to driving the project.

Ayuk said: “we need to look at those above-ground risk issues that have really stopped domestic gas across Africa. You want gas to go around Africa, but people can not get visas to go around Africa.

“That is something we will lead in our discussions with the AU in July. Travelling across this continent is easier for someone with a British or American passport.

“Some of the Nigerian or Senegalese passports or Ghanaian passports cannot travel across Africa because of our roadblocks among ourselves.

“So there are a lot of barriers to issues, but as we drive up this discussion, we should not forget that our above-ground risk issues are killing us when it comes to domestic gas.”

According to the AEC boss, a free and structured market is very important, but an enabling environment is even more essential today regarding domestic gas development.

“So, let us push Nigeria. Let us make our pride in Nigeria and Africa a real success so that we can have a country like Nigeria and a continent called Africa that we deserve and expect. “

The News Agency of Nigeria (NAN) reports that the two-day summit has as its theme “ Igniting the Future: Driving Sustainability in Africa’s Energy Landscape through Gas Technology and Innovation.

The programme, which started on June 13, brought together stakeholders and partners from across the continent and will end on June 14. (NAN)(www.nannews.ng)

LCN/EEE

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Edited by Ese E. Eniola Williams

Training
By Martha Agas
Abuja, June 14, 2024 (NAN) The Trade Modernisation Project (TMP) Ltd, will empower 2,500 personnel of the Nigeria Customs Service (NCS) with technical skills.

According to Mr Ahmed Ogunshola, the  General Manager of the project, this is in line with the project’s capacity building framework.

Ogunshola said this in an interview with the News Agency of Nigeria (NAN) on Friday in Abuja.

NAN reports that TMP Ltd is the concessionaire of the NCS trade project.

It is a 20-year concession agreement which has three phases, with phase one covering year one to six; phae two, seven to 13, and phase three from 14 to 20 years .

The agreement was signed on May 27, 2023 between the Federal Government of Nigeria represented by NCS Board, and Trade Modernisation Project Ltd.

TMP is the automation of the business processses of the NCS to simplify , and enhance the experience of stakeholders in the trade value chain.

According to the manager, the training aims to empower the personnel with the requisite skills to operate state-of-the art technology that will be deployed to automate trade processes.

“More than 2,500 NCS personnel will be trained by the first quarter of 2025,
in line with the project’s capacity building framework.

“ This will cover strategy, management and technical training, as well as direct skills and knowledge transfer.

“TMP has jointly designed, developed and deployed all technology systems and platforms for the project. This ensures that NCS has complete knowledge of all technology software, hardware and services from inception,” he said.

He said that the company was developing a software known as the Unified Customs Management System (UCMS), to be deployed to monitor all stages of transactions by traders and other processes.

According to him, the revenue cluster of the new system has been released and is currently undergoing user acceptance tests to facilitate the smooth integration of other stakolders in to the system.

“TMP has signed and is implementing nine technical agreements with its technical and financial partners.

“TMP invested 2.5 million dollars to retrofit the NCS Project Management Office, a one-story building donated by NCS to the project.

“TMP, upon handover of the Project Management Office (PMO) by NCS, renovated the space to world class standard, with latest-in-class technology, including a Modernisation Hub and teleconference facilities.

“The PMO is now host to about 100 professionals daily, drawn from NCS and TMP and its partners, working on the delivery of Phase 1 of the project,” he said.

NAN reports that the project is expected to generate in excess of 250 billion dollars for the Federal Government during the life of the concession.

The concessionaire is expected to invest 3.2 billion dollars to deliver the project over the 20-year period. (NAN)(www.nannew.ng)
MAA/EEE

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Edited by Ese E. Eniola Williams

Mining

By Martha Agas

June 14, 2024(NAN) The Federal Government has inaugurated 350 additional Mine Marshals, as part of its efforts to address insecurity in mining environments across the country.

The Minister of Solid Minerals Development, Dr Dele Alake inaugurated operative at the Nigeria Security and Civil Defence Corps (NSCDC) Headquarters, on Friday in Abuja.

Represented by the ministry’s Permanent Secretary, Dr Mary Ogbe, the minister said that the marshals were to checkmate the activities of illegal miners and defaulters of the nation’s mining laws.

He noted that the move was a  demonstration of government’s determination to sanitise the mining sector.

The News Agency of Nigeria(NAN) reports that the Federal Government on March 21, inaugurated 2,220 Mine Marshals, who were specially trained as a Rapid Response Squad and deployed across the 36 states and the Federal Capital Territory(FCT).

This puts the total number of mine marshals in the country at 2,570.

Alake said that the initiative was yielding the desired results, as more than 200 suspects have been arrested, 133 being prosecuted, and two foreigners convicted for illegal operations.

He maintained that the mine marshals had recorded significant success, particularly in reducing illegal mineral haulage and the activities of unlicensed operators nationwide.

“Today’s Passing Out Parade of the second batch will further increase our numbers, ensuring wider coverage and enhancing the operational effectiveness of the squad.

“As we integrate and improve collaboration between mining marshals and Federal Mines Officers across the country, we aim to intensify sector sanitisation and boost investor confidence.

“This will lead to increased investments and development in the mining industry,” he said.

The minister appreciated his Interior Ministry counterpart, Dr Olubunmi Tunji-Ojo, and the NSCDC for their collaboration towards combating illegal mining in the country.

In his remarks, Dr Ahmed Audi, the  Commandant-General of NSCDC, said that the new operatives completed an intensive eight-week training aimed at intensifying efforts to neutralise the operations of illegal miners nationwide.

On his part, the Minister of Interior, emphasised the need for continuous training and deployment of the marshals to ensure comprehensive coverage of Nigeria’s vast mining areas.

He added that the move would also help the country to maximise the benefits derivable from the solid minerals sector to boost its economic profile.

“This is the second batch, we have more personnel on the ground, we must continue training and deploying to protect our mining areas and ensure our nation reaps the full benefits of its solid minerals for economic development,” Tunji-Ojo said.(NAN)(www.nannews.ng)
MAA/IU

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Edited by Isaac Ukpoju

Afreximbank, First Bank sign $200m facility agreement to finance clients’ needs

Agreement
By Okeoghene Akubuike

Abuja, June 14, 2024(NAN) Afreximbank and First Bank of Nigeria(FBN) have signed a 200 million dollar facility agreement for financing the needs of FBN’s numerous clients.

The News Agency of Nigeria(NAN) reports that the signing took place at the ongoing 31st Afreximbank Annual Meetings (AAM2024) in Nassau, The Bahamas, on Friday.

The meetings are being monitored by the NAN.

The facility will finance the needs of FBN’s numerous clients engaged in oil and gas and energy, manufacturing, telecommunications and associated infrastructure projects.

The parties who signed the agreement included Olusegun Alebiosu, Acting CEO, FBN, Awani Kanayo, Executive Vice- President, Intra-African Trade Bank (IATB), Afreximbank, and Viswanathan Shankar, CEO, Gateway Partners on behalf of African Credit Opportunity Fund.

The 31 AAM2024 is being held in Nassau, The Bahamas from June 12 to June 15, with the theme: “Owning our Destiny: Economic Prosperity on the Platform of Global Africa’’, NAN reports.

The AAM is taking place alongside the 3rd edition of the AfriCaribbean Trade and Investment Forum (ACTIF2024). (NAN)(www.nannews.ng)

OKE/VIV

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Edited by Vivian Ihechu

Energy

By Lucy Ogalue

Abuja, June 14, 2024 (NAN) The Group Managing Director of UTM Offshore Ltd., Mr Julius Rone, says policy inconsistency and insecurity are some of the major challenges hindering the growth of Nigeria’s energy sector.

Rone, represented by Mr George Amara, member of his Project Technical Team, said this on Friday at the ongoing 2024 African Gas Innovation Summit (AGIS) in Abuja.

The News Agency of Nigeria (NAN) reports that the stakeholder spoke at a panel discussion titled: “Solving Africa’s Gas Development and Utilisation Challenges through Domestication of Innovation”.

According to Rone, innovation and technology are also driving the migration of youths on the continent, especially to Nigeria.

“And why are they leaving the country? Maybe the environment is not favourable for research and development.

“So we need to see how we can even partner with Nigerians abroad and break the barriers everywhere to see how they can even work with us globally.

“Now we are in the era of technology, and people can work wherever they are. So, we need to see how we can get into this developmental pattern related to innovation and technology.”

The managing director said the issue of policy framework also posed a major challenge because there was inconsistency in our policies in the country.

“So these are areas I feel we have to improve. If we improve the policies, let there be stability. We recently read why Total is putting about six billion dollars in Angola, not Nigeria.

“One of the key things they mentioned is the inconsistency of policy and security. Therefore, these are key things, like a monster killing the business in Nigeria, even as they are divesting.

“No investor or businessman will want to put money where you cannot get anything.

“So the local investors will even hold back or put in money where they are not sure they will get it back. And at the end of the day, it shows in our data,’’ he said.

The managing director, however, said the essence of the meeting was not to dwell on things that were bedevilling us but to chart a way forward.

He called for collaborative effort among stakeholders to ensure that the purpose of the meeting was achieved.

Representing the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr Ahmed Mungadi said it was crucial to enhance gas utilisation efficiency in Nigeria and the continent.

Mungadi said there was an urgent need for efficiency in gas utilisation as Nigeria aims to accelerate the use of its gas resources.

“It is important that we immediately at this stage, try to optimise the efficiency of our utilisation.

“If we take certain volumes of gas, say a million tonnes of gas, and produce electricity, it is possible that half of that gas will have been used to produce the same amount of electricity or other gas products.

“This underscores the need for developing mechanisms that allow for more effective use of gas resources, ensuring that Nigeria maximises the benefits from its finite gas reserves.”

According to him, efficiency in gas utilisation also has significant implications for households and industrial consumers.

Addressing the role of the academia and research institutions in supporting innovation, Mungadi said stakeholder engagement, as stipulated by the Petroleum Industry Act (PIA), was crucial.

“The PIA has stipulated that regulators should conduct stakeholders engagement whenever they make any policy or law.

“The academia, however, should be an integral part of these engagements to provide solutions for present and future challenges.”

Mungadi said it was also important to leverage existing government institutions such as the Petroleum Development Trust Fund (PTDF), to foster academia-industry collaboration.

According to him, this collaborative effort is crucial for developing regulatory frameworks that support innovation in the gas sector.

Also, speaking, Dr Emeka Okwuso, the Chairman Oliserv Ltd, represented by the Managing Director Frazmes, Chuka Eze, said security was one of the big issues in developing and utilising gas on the continent.

“Today, gas pipeline facilities are sabotaged. So, we have to introduce technology and adapt it from the perspective of solving our security challenges.

“And we have to be collaborative about it. What we have found in the industry is that each organisation has a solution; we are not synergising together; we need synergy to get a harmonistic solution.

“For me, the issue has to be handled harmoniously for us to realise the potential,’’ he said. (NAN)  (www.nannews.ng)

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Edited by Ese E. Eniola Williams

Age

By Aisha Cole
Lagos, June 14, 2024 (NAN) The Comptroller-General of Customs, Mr Bashir Adeniyi,
on Friday described as unfounded, a report that he falsified his age to remain in public service.

In a statement, Adeniyi said that the report lacked credibility and could be best  described as a junk.

The News Agency of Nigeria (NAN) reports that an online news medium had reported that Adeniyi falsified his age and had spent 43 years in service.

“Common sense dictates that a fitting picture should illustrate such a reported scandal; instead, what appeared to be a plain paper with indiscernible, blurry writings was used to attempt to convince readers.

“The first two paragraphs of the story claimed that official documents were sighted to prove Adeniyi’s culpability,” he said.

The comptroller-general said that  the medium  did not provide screenshots of the official documents it claimed to have obtained.

He added that the medium  contradicted itself in two paragraphs of the exclusive story.

According to Adeniyi  the report claimed in one paragraph that his age falsification has enabled him to remain in service beyond age 60.

“In another, it claimed the documents also revealed that Adeniyi altered his years of service to remain in customs service,” he said.

He added that no tangible evidence was presented in the report to substantiate the claims.

“Neither the document showing age alteration nor the one showing service period extension by the customs boss was attached to the story,” he said.

He said that the report might be aimed at distracting him but he would remain focused  and committed to leading Nigeria Customs Service well. (NAN) www.nannews.ng

AIC/IGO

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Edited by Ijeoma Popoola

Interception
By Aisha Cole
Lagos, June 14, 2024 (NAN) The Comptroller-General, Nigeria Customs Service (NCS), Bashir Adeniyi said the service intercepted large consignments of illicit drugs including cannabis indica, prohibited codeine and other illicit drugs from Canada and India.

Adeniyi made this known to newsmen in Lagos on Friday, saying that the intercepted drugs were valued at N4 billion.

He said among the intercepted drugs by the Tin Can Island Port Command was 172kg of cannabis indica concealed in three drums and intercepted by the Intelligence Unit of the service.

According to the comptroller-general, a breakdown of the drugs include three plastic drums of cannabis indica; 46 bags of cannabis indica; 877 codeine syrup and 82 cartons of other drugs valued at 4 billion.

He said that the cannabis was intercepted in two 40ft containers while the intercepted codeine was also in two 40ft containers.

Adeniyi who described the seizures as a warning to those involved in the unlawful acts, said that the service would ensure the dismantling of the network of people involved.

“I promise to apply the heaviest sanction against customs officers found culpable.

“Beyond revenue loss, some port operators and officers of the service are suspected to be involved in the illegal drug importation.

“Intelligence indicated that a lot of terminals are involved in the customs’ findings and that there are abuses of procedures involving customs officers.

.”The importer of the drugs gave two fake addresses which raised customs curiosity leading to the discovery,” Adeniyi said.

He commended the Customs Area Controller of Tin Can Island Port, Comptroller Dera Nnadi and his team for the seizures which he described as a fall-out of dedication and hard work.

Adeniyi recalled that in recent months, the service had reported numbers of successfully-executed interceptions of illicit drugs, arms and ammunition, illegal wildlife and petroleum products at various locations which represented concerted efforts to prevent illegal entries into our country through diverse routes.

He drew attention to the misuse and abuse of drugs, particularly cannabis indica and codeine which posed severe dangers to the society and also the devastating effects on youths.

Adeniyi said that the proceeds from illicit drugs were often used to finance disruptions by non-state actors, which was inimical to national security and economy.

“The Federal Government under President Bola Ahmed Tinubu-led administration is determined to stabilise the economy and create an environment where all our citizens can thrive and prosper.

“As part of these efforts, Nigeria’s customer service plays a crucial role, not only in revenue collection from legitimate trade but protection of our society.

“Our mandates include ensuring that harmful and illegal substances do not find their way into our communities.

“It is within this context that the ongoing collaborative efforts between Nigeria Customs Service, the National Drug Law Enforcement Agency and other sister agencies have consistently yielded positive results,” Adeniyi said. (NAN)(www.nannews.ng)
AIC/AJA
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Edited by Adeleye Ajayi