By Dipo Olowookere
Minister of Mines and Steel Development, Dr Kayode Fayemi, has revealed that over $3 billion worth of gemstones from Nigeria are exported every year.
Mr Fayemi made this disclosure at the opening session of the 2017 edition of the African Gems and Jewellery Exhibition and Seminar held in Abuja recently.
The Minister said the gemstone industry in the country remains largely untapped, but lamented that the business had been a vehicle for money laundering by some individuals at the detriment of the nation’s economic growth.
However, he said Federal Government was leaving no stone unturned in making the sector better than it used to be.
The Minister disclosed that efforts are being made to ensure that Nigeria maximises potentials in the gemstone sector to contribute to the gross domestic products (GDP) and create jobs and wealth for the citizens.
According to him, efforts are also being made to ensure that gemstone export proceeds are duly repatriated through the Central Bank of Nigeria (CBN).
Mr Fayemi said government would discourage personal exports of minerals which have hitherto abetted smuggling and other sharp practices.
The Minister told participants at the event that the sector was going through a reorganisation process with some reforms being put in place, which among other things would ensure accurate records and sources of gemstones; to ensure all gemstone mining is carried out in a sustainable manner with limited impact on environment.
“The goal of our reforms in this segment of the mining industry has been to ensure proper organisation of the gemstone sector from prospecting to exploration, to mining, processing and marketing of gemstones in Nigeria, with emphasis on regularising the activities of the artisans who mostly engage in it,” he said.
The Minister hinted that. “A new partnership has been forged with the Ministry of Interior and the Nigeria Police Force to establish the Mining Police as provisioned in the law.
“This has led to a number of high profile arrests of expatriate illegal miners and their Nigerian conspirators.”
He expressed joy that many young people were embracing the mining industry in the country.
“This is especially so in the gems and jewellery segment of the sector. The sector has become increasingly attractive and appealing to the younger generation on account of efforts carried out to simplify the business of mining in Nigeria. No longer is any segment of the population shut out from mining – the Nigerian mining sector now has a new buzz and increased activity from players without and outside the country.
“The Roadmap identified Gemstones amongst the nation’s diverse mineral resources as high value commodities that have the potential of significantly contributing to our priority goals of Economic Diversification, Wealth Creation and Jobs Creation,” the Minister said at the programme also attended by wife of the Vice President, Mrs Dolapo Osinbajo.
Modupe Gbadeyanka