AFNIS 2024: Sustainable mining can generate substantial revenue for Nigeria –Minister

Nigeria’s Minister of State for Environment, Iziaq Salako, says sustainable mining can generate substantial revenue for the government through royalties, taxes, and other fees.

The minister disclosed this while speaking on the theme: “Balancing Development with Environmental Stewardship” at the 3rd edition of the Africa Natural Resource And Energy Investment Summit (AFNIS) in Abuja on Wednesday.

Mr Salako urged the government to direct revenue generated from sustainable mining activities towards infrastructure development, social programs, and other priorities.

“The mining sector can generate employment opportunities, stimulate other industries and contribute to overall economic growth,” the minister said.

​In the quest for prosperous economic growth, Mr Salako said, it is imperative to tackle the challenges of climate change and harness the country’s natural resources through sustainable exploration and exploitation.

Additionally, he emphasised that the mining sector has huge potential to significantly impact the Gross Domestic Product (GDP) of Nigeria and Africa if managed effectively.

“The delicate art of balancing development with environmental stewardship is essential to ensure a prosperous future for all,” the minister said.

“We must, therefore, ensure that our development programmes deliver maximum benefit with minimum pain to our people.”

While acknowledging that ​Mining activities are indispensable to modern life, the minister said if not well regulated and managed with a sustainability lens, developmental cum economic activities can result in severe environmental and public health effects.

Some of these effects, he said could include pollution, erosion, sinkholes, loss of biodiversity, deforestation, contamination of soil, ground and surface water and contribute significantly to climate change through greenhouse gas emission.

“The rigorous and intrusive operations required for economic activities like mining, exploration, agriculture and construction often result in environmental impacts on local ecosystems, public health and broader implications for planetary and global health,” the minister said.

“Having the right legal and normative framework for such activities through the domestic laws of the host country, contracts, international hard and soft laws, voluntary standards by the industry players and customary rules and their enforcement is, therefore, the first step in the promotion of sustainable development,” he said.

Prospects

In her remarks, Maryam Yaro, Executive Secretary of the Zamfara State Government, said as countries embark on mining activities, they must recognize the critical role of sustainable practices in natural resource management and energy production.

“We are tasked with the responsibility of ensuring that our development efforts do not compromise the environment or the well-being of future generations. It is our duty to strike a balance between economic progress and ecological preservation,” she noted.

“From the vast mineral deposits that lie beneath our soil to the powerful rivers that flow through our lands, the opportunities for growth and development are immense. Our mission at this summit is to harness these resources responsibly and sustainably, ensuring that they benefit all Africans,” she added.

She explained that the summit underscores the importance of collaboration, innovation, and strategic investment in driving economic growth and improving the quality of life for the African people.