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Illegal Exportation Of Gold, Other Solid Minerals Gone — President Tinubu

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Nigeria’s President, Asiwaju Bola Ahmed Tinubu, yesterday said the era of exporting raw gold, lithium and other minerals is gone for good

He said that many local companies have already adjusted their business plans to the new normal, urging others to do same.

The President said the creation of the policy of value addition to mineral resources before exportation by his administration was to halt the huge losses recorded through the exports of unprocessed mineral commodities.

He spoke in Abuja at the second day of the eighth edition of the Nigerian Mining Week which was organised by the Miners Association of Nigeria (MAN).

Solid Mineral Development Minister, Mr. Dele Alake, whose ministry hosted the event at the International Conference Centre (ICC) in conjunction with others, said an end is in sight for the exportation of raw materials.

The President, who was represented by the Secretary to the Government of the Federation (SGF), Sen. George Akume said: “This administration has hit the ground running with remodeling the former Ministry of Mines and Steel Development into the ministry of Solid Minerals development and Ministry of steel developments, the orders to demonstrate the resolve of the federal government to maximise the potentials of the mining industry significantly improves its contribution to the revenue of government.

“The present administration has observed the huge losses recorded by the nation through the exports of crude mineral commodities and therefore has evolved a policy of value addition to its mineral resources before exportation, the policy will ensure that the teaming youths in the country will also be meaningfully absorbed in economic benches that will empower them while developing their skills.

“Through this policy, the era of export of crude minerals from Nigeria is gone. It is gratifying to note that many companies in Nigeria have already adjusted their business plans to this new normal and we hope others are encouraged to do same.

“We are determined to use every potential to industrialised this great country. There is no reason why Nigeria and Africa should not be leading in any of the critical mineral value chains.

“The recent global trends in the energy transition initiatives have led to stunning discoveries which has opened Nigeria to geological exploration works that have grown the availability of huge lithium resources of high grade across many states in Nigeria.”

The minister cited the take-off of a lithium battery production factory in Ondo, Ondo State and similar start-ups all over the country as gains of the policy.

He got an ally in Nasarawa State Governor, Abdullahi Sule, who informed that two other mineral processing plants with billion-dollar finished goods were set to start.

Alake restated the commitment of the Tinubu administration to revive economic growth by  developing vast solid mineral deposits in the country.

The minister described the theme of the 2023 mining week tagged: “Capitalising on Nigeria’s critical mineral resources for its economic growth”, as a demonstration of the government’s determination to  reduce dependence on oil through sustainable development of the solid minerals sector.

He said: “Our vision for the mining sector transcends mere resources extraction. We are firmly committed to conducting mining activities that are economically sustainable, socially responsible, and economically beneficial.

“We believe mining operations should serve as catalysts for community development and job creation and adhere to industry best practices that minimise ecological footprint.

“As we convene here today, I want to assure you that the Ministry of Solid Minerals is wholeheartedly dedicated to advancing the Mining Sector in Nigeria. We are actively addressing the historical challenges that have hindered our progress, including infrastructure deficits, inadequate geological data, and the emerging imperative needs for modern mining.

“Our ongoing efforts also encompass improving the ease of doing business within the sector, enhancing transparency, and enforcing regulations that protect the interests of investors, the environment, the Mining Host Community, and Gender issues.”

Shedding light on his seven-point agenda for the ministry, Alake hinted of plans for the establishment of the national mining company; harnessing technological innovation to revolutionise the mining industry; sustained geo-science data generation; empowering local communities by ensuring they benefit from mining activities; enhancing infrastructure development for mining and addressing prevalent security challenges amongst others.

He said: “Nigeria is endowed with valuable solid minerals like limestone, gold, baryte, bitumen, lead-zinc, coal and iron ore, to mention but a few.  This natural wealth indicates a significant reservoir poised for exploration and development.

“These resources can potentially reduce our dependence on oil revenues, diversify our economic base, serve as the bedrock of sustainable development across various sectors, and provide significant job creation opportunities.”

Gracing the event were Minister of Steel Development, Prince Shuaibu Audu; Minister of Trade, Investments and Industries, Dr. Doris Uzoka-Anitie; Managing Director/Chief Executive Officer (MD/CEO) African Finance Corporation (AFC), Samaila Zuberu and a host of other stakeholders in the mining sector.

BIG STORY

BREAKING: Court Grants Yahaya Bello N500m Bail Amid “N110.4bn Fraud” Case

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The Federal Capital Territory High Court in Abuja on Thursday granted the immediate past Kogi State Governor, Yahaya Bello, bail in the sum of N500 million and three sureties.

The trial judge, Justice MaryAnne Anenih, made the pronouncement after hearing the fresh bail application brought before the court following the court’s refusal to grant Bello bail at the previous sitting.

Bello, alongside two others, Umar Oricha and Abdulsalami Hudu, are facing trial on 16 counts brought against them by the Economic and Financial Crimes Commission, concerning criminal breach of trust and money laundering amounting to N110.4 billion.

However, the court granted bail to the second and third defendants in the sum of N300 million with two sureties, along with other conditions.

Outlining the conditions for Bello’s bail, the judge stated that the sureties must be responsible citizens who are landowners in any of the listed areas in Abuja – Maitama, Guzape, Apo, Wuse 2, or Asokoro.

She ordered that the sureties must deposit the documents of the property with the court’s registrar, along with two recent passport photographs.

Justice Anenih also ordered that Bello must deposit two copies of his recent passport photograph, alongside a photocopy of a means of identification, which could either be an International Passport or National Identity card, after presenting the original to the court’s registrar.

She ruled, “The first defendant must not travel without the permission of this court, and he shall remain in the Kuje Correctional Facility until the bail conditions are met.”

Recall that on December 10, the court had rejected Bello’s bail request, citing procedural irregularities in the filing of the application.

Justice Anenih, while delivering the ruling, explained that the application was premature and filed before Bello was present in court or custody.

The court noted that the bail application, dated November 22, 2024, was submitted before Bello’s arraignment, which took place on November 27, 2024, days after he was taken into custody on November 26, 2024.

She said, “Having not been filed when the first defendant was either in custody or before the court, this instant application is incompetent.”

“Consequently, the application, having been filed prematurely, is hereby refused.”

 

More to come…

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BIG STORY

‘N110bn Fraud’: Court To Hear Yahaya Bello’s Fresh Bail Application Today

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A Federal Capital Territory (FCT) High Court will today hear the bail application filed by Yahaya Bello, former governor of Kogi.

Bello and his co-defendants, Umar Shoaib Oricha and Abdulsalami Hudu, were arraigned on November 27 before the FCT court on a 16-count charge related to alleged money laundering amounting to N110 billion.

On December 10, Maryann Anenih, the trial judge, adjourned the case to January 29 and 30, and February 25 and 27, after refusing to grant bail to the former governor.

The trial judge declined Bello’s bail request on the grounds that the application was filed prematurely.

Anenih stated that the bail application was submitted before the ex-governor was taken into custody.

The judge emphasized that the provisions of the Administration of Criminal Justice Act (ACJA) 2025 stipulate that bail applications could be tendered once a defendant has been arrested, detained, arraigned, or brought before the court.

Although Bello was arrested by operatives of the Economic and Financial Crimes Commission (EFCC) on November 26 and arraigned the following day, his bail application was filed on November 22, four days before his arrest.

Bello’s legal team, led by Joseph Daudu, has filed a new bail application, and the court has agreed to hear the application on December 19.

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BIG STORY

Buhari Didn’t Remove Petrol Subsidy Because He’s Friend Of The Poor — Femi Adesina

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Femi Adesina, spokesperson to former President Muhammadu Buhari, said his principal did not remove the petrol subsidy because he cared about its implications on “ordinary” Nigerians.

In a tribute to commemorate Buhari’s 82nd birthday on Tuesday, Adesina said the decisions of the former president were based on his love for “poor and underprivileged” Nigerians.

Adesina mentioned that the Buhari-led administration was aware that the country was spending huge resources on the petrol subsidy.

The former presidential spokesperson described Buhari as “ore mekunu,” a Yoruba phrase that means friend of the poor.

Adesina recalled that during the 2020 COVID-19 lockdown, Buhari instructed Zainab Ahmed, the former Minister of Finance, to ensure the timely payment of workers’ salaries and pensions.

He added that Buhari understood the challenges workers faced during the pandemic and was determined to avoid the additional burden of unpaid salaries.

“The Big Elephant in the room. Removal of fuel subsidy. Did you think the Government didn’t know that the money guzzling monster had to be slain? It knew,” Adesina wrote.

“But who ensured that subsidies remained as long as they did? Buhari. And why? The people, the ordinary people. His argument was always simple:

“When oil sold for at least 100 dollars per barrel in the international market, rising even to as high as 140 dollars per barrel, what did the ordinary people gain? Nothing! So why should they be the ones to bear the brunt when oil prices fall?”

“By the time the administration ended, all, including the three main presidential candidates, were resolved that oil subsidies had to be removed.

“It was not unlikely that President Buhari shared the same conviction. But something that would throw society into a tailspin? He didn’t want to do it—for the sake of the ordinary people.

“Ordinary people gravitate towards Buhari, like bees to the honeycomb. That was why he always had a basket of millions of waiting votes, even before the first ballot was cast.

“He clobbered the ruling People’s Democratic Party in 2015, and won with even larger votes in 2019, despite all attempts to denigrate and demarket him. When you love the ordinary people, they love you in return, and stand with you through thick and thin.

“Now almost two years into retirement, get to Buhari’s house today. And you see the people milling around, just wanting to get a glimpse of the man.

“As he turns 82 on December 17, 2024, I salute the Ore Mekunu, a friend of the poor, who still draws the people like a magnet, even in retirement.”

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