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    Home»Events»FG approves $2.5 billion to fight illegal mining
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    FG approves $2.5 billion to fight illegal mining

    tundeoyeyemi2002By tundeoyeyemi2002March 3, 2025No Comments2 Mins Read
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    FG approves $2.5 billion to fight illegal mining

    The Federal Executive Committee (FEC) approved the procurement of 2.5 billion in satellite technology to combat illegal mining activities in Nigeria at its third meeting on Monday.

    Solid Mineral Development Minister Dele Alake introduced the news to the state legislator after the meeting. He explained that satellite technology is part of an integrated solution framework designed to address unlicensed, unregulated and reported mining operations.

    The minister stressed that the technology would help curb illegal mining activities that result in loss of revenue, unregulated operations and illegal extraction and exploitation of the country’s mineral resources.

    “We are purchasing satellite equipment and satellite gadgets that will be installed in strategic locations across the country. These will allow us to monitor operations of mining sites across the country in real time,” Arak said. “At the Operations Center, the Mining Marshal Center and my office will also have a center with a screen. At first glance, you can click the button and you can view any mine site and see what’s going on there: minerals extracted, the number of trucks, and the safety of the area.”

    Arak explained that his ministry efforts to address illegal exploitation involve a two-pronged strategy. First of all, it is a persuasive method to encourage handmade miners to form cooperatives. He said once miners form cooperatives, they become formal, legal and more structured, which allows them to add value to the country’s economy.

    “When they form cooperatives, they become reliable. They can even visit financial institutions to buy loans to expand their business. Of course, that means they have to pay their obligations to the Nigerian country,” Arak said.

    According to the minister, more than 300 cooperatives have been established as part of the plan. For those who resist this approach, the ministry has adopted a mandatory strategy. “We have used mandatory measures, which are reflected in the mining currency we have established. So far, we have arrested, arrested, prosecuted and convicted of illegal operators, including foreigners,” Arak said.

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