Mine Rangers to generate N500bn yearly — NUPEC CG

The proposed Nigeria Mines Rangers Service (NMRS) will generate N500 billion yearly from the mining sector for Nigeria, a promoter of the bill to create the agency has said. The Commandant-General of the National Unity and Peace Corps (NUPEC), Dr Chinedu Nnaji, while addressing a press conference in Abuja on Monday, disclosed that the country […]

The proposed Nigeria Mines Rangers Service (NMRS) will generate N500 billion yearly from the mining sector for Nigeria, a promoter of the bill to create the agency has said.

The Commandant-General of the National Unity and Peace Corps (NUPEC), Dr Chinedu Nnaji, while addressing a press conference in Abuja on Monday, disclosed that the country was losing so much revenue from the activities of illegal miners.

While making comparisons with other countries that are earning much from their respective mining sectors, Nnaji said the establishment of NMRS will not only plug the loopholes for losses but is projected to contribute N70 billion to the federation account in the first year of establishment.

“In fact, if the sector is properly harnessed, the agency can generate as much as N500 billion yearly after recurrent expenditure,” he said.

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Nnaji said NUPEC will transform into the NMRS after the passage of the bill creating the NMRS at the National Assembly.

The bill has already passed second reading and public hearing at the Senate.

“The NMRS is a virgin paramilitary agency intending to stop the activities of illegal miners, monitor and regulate environmental degradation caused by mining activities and generate adequate revenue for the government,” he said.

Nnaji noted that the country was losing so much revenue due to illegal mining, adding that Nigeria had 44 minerals already discovered in commercial quantities.

“Statistics have shown that Nigeria loses a whooping N12 trillion as a result of illegal mining activities. 

“According to the Nigerian Bureau of Statistics, Nigeria’s solid minerals sector contributed only 0.77 per cent to the GDP and it is projected to increase by a mere 10 per cent in the coming year,” he said.

He said the Senate had done its due diligence before sponsoring the bill, and called on President Bola Ahmed Tinubu to assent to the bill as soon as it is passed.

Nnaji expressed optimism that the creation of the agency would generate employment, administer proper licensing fees, acquire proper royalties and ensure improved revenue generation for the country.