News
Over 300 illegal miners have been apprehended – Alake
The Minister of Solid Minerals Development, Dele Alake, has indicated that Nigeria currently has 44 globally sought-after mineral resources in abundance.
He also said that the government apprehended a total of over 300 illegal operators with more than 133 currently undergoing prosecution.
This was as he affirmed that reforms implemented by the Tinubu administration have led to a renewed investor interest in Nigeria’s mining sector.
Giving the keynote address at the Nigeria Middle East Investors Expo and Awards on Friday, Alake stated that the Federal Government’s focus on solid minerals has redirected global attention to Nigeria’s mining sector, spurring increased investments and revenue for the country.
He stated that the government has identified over 40 million tonnes of talc deposits in Niger, Osun, Kogi, Ogun, and Kaduna states.
While approximately 1 billion metric tonnes of iron ore in Kogi, Enugu, Niger states, and the Federal Capital Territory; and an estimated 10 metric tonnes of lead and zinc spread over eight states, among others according to available mineral data.
Alake said, “We have over 44 globally sought critical minerals in Nigeria. A crucial factor for foreign investment is data. We are working to significantly increase funding for exploration to generate the necessary big data that will attract major international players and position Nigeria as a global mining destination.”
Highlighting the impact of his 7-point agenda, the Minister detailed the successes of the mining marshals in combating illegal mining activities, leading to the arrest and prosecution of numerous culprits across the country.
He revealed that the officers have apprehended a total of over 300 illegal operators with more than 133 currently undergoing prosecution.
“Since deploying the mining marshals as part of our comprehensive plan to sanitize the mining environment, they have been working assiduously and efficiently. Over 300 illegal operators have been apprehended, with more than 133 currently undergoing prosecution. We are making significant progress,” A statement by the Special Assistant on Media to the Minister, Segun Tomori read.
To enhance the operations of the mining marshals, Alake revealed plans to incorporate satellite monitoring of mining sites.
“We are installing satellite surveillance mechanisms, allowing us to monitor all mining sites in Nigeria from the Minister’s office, identify any illicit activities, and promptly deploy mobile mining marshals,” he said.
In furtherance of efforts to improve the operating environment and ease of doing business, Alake recalled the recent launch of the Decision Support System, an online platform providing comprehensive information about Nigeria’s solid minerals sector to assist prospective investors worldwide in making informed decisions about investing in the mining sector.
Highlighting the abundance of high-grade critical minerals in the country, Alake affirmed Nigeria’s readiness for business and encouraged investors to take advantage of improved regulatory frameworks and incentives.
On Thursday, the minister announced a review of mining rates and dues to enhance ease of doing business and consolidate ongoing reforms.
The new rates which affect 268 items in the industry aim to maximise royalties from critical minerals such as lithium and gold to boost the nation’s revenue and contribute significantly to economic development.
News
Food prices rise highest level in 18 months – FAO
The Food and Agriculture Organization, FAO, has said global food prices rose in October to their highest level in 18 months.
The organisation said there was a sharp increase in the cost of vegetable oil.
The FAO Food Price Index tracks monthly changes in international prices.
It said the prices of food commodities reached 127.4 points last month, a two-percent increase from September.
This was sald to be the highest since April 2023 but still 20.5 per cent lower than the peak reached in March 2022 following Russia’s invasion of agricultural powerhouse, Ukraine.
Vegetable oil prices increased by 7.3 per cent in October, reaching a two-year high due to lower production.
Sugar prices rose 2.6 per cent, dairy was up 2.5 per cent and cereals gained 0.8 per cent.
Meat was the only commodity to fall, down 0.3 percent from the previous month.
News
EndBadGovernance: Tinubu’s children, grand children motivated release of minors – AGF
The Attorney General of the Federation, AGF, Lateef Fagbemi, has disclosed why President Bola Tinubu ordered the release of the 32 minors arraigned.
Fagbemi said Tinubu ordered that the charges against the minors be dropped because he has children and grand children.
Addressing journalists in Abuja, the AGF said there were suggestions that the minors be tried in a family court.
He maintained that no Nigerian law prevents the trial of minors.
Recall that the Nigerian government had arraigned 72 protesters for engaging in the nationwide EndBadGovernance protest.
Out of the 72 protesters, 32 were minors and they were arraigned before an Abuja Federal High Court on charges of treason.
But the Nigerian government had withdrawn the charges against the minors following an outcry by Nigerians.
Fagbemi said: “No law in this country says a minor cannot be tried, and I have also heard suggestions that they should go to a family court.
“But the President said, despite all this, ‘I have children, grandchildren,’ and that motivated his passion to release them.”
News
Ngozi Okonjo-Iweala pushes for second term, emerges sole candidate for WTO DG
The current Director General of the World Trade Organisation, WTO, Ngozi Okonjo-Iweala has signified interest to run for a second term.
To this end, Okonjo-Iweala emerged as the sole candidate of the WTO DG.
The organisation formally began the process of appointing its next DG on October 8.
WTO allowed members until November 8 to submit nominations.
This was disclosed in a message to members, by the Chairman of WTO General Council, Petter Olberg.
Olberg said no additional nominations were received by the November 8 deadline.
The statement reads: “Under the procedures for the appointment of Directors-General (WT/L/509), I am required to communicate to members a consolidated list of candidatures received for the post of Director-General immediately after the close of the nomination period, in this case, 8 November 2024.
“I would like to advise members that at the end of the nomination period the only candidacy received for this post is from Dr Ngozi Okonjo-Iweala, the incumbent director-general.
“The notification received from Dr Okonjo-Iweala pursuant to paragraph 12 of the Procedures in WT/L/509, was circulated to all members together with my communication in document JOB/GC/406, dated 16 September 2024.”
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