Economy

Safer Mining Practices Reduce Hazardous Exposures—Study

Published

6 years ago

14/01/2019

By Modupe Gbadeyanka

A new study has showed that a pilot program to reduce lead poisoning in Nigerian gold mining communities has brought extraordinary improvements to an area where hundreds of children had died from lead poisoning.

The study authors concluded that a two-year effort to introduce safer mining practices was effective at preventing deaths and reducing lead poisoning in highly exposed villages.

“Our pilot project demonstrated that low-cost dust control measures were effective at reducing average airborne lead exposures by 95 per cent,” said Perry Gottesfeld, Executive Director of Occupational Knowledge International (OK International) whose organization partnered with Doctors Without Borders/ Médecins Sans Frontières (MSF) in this effort.

The safer mining project took place in the Shakira community in Niger State where high levels of lead are naturally present in the gold ore. The primary objective was to reduce lead exposures among artisanal small-scale miners and minimize take-home exposures.

“We worked cooperatively with miners to provide them with the information and tools to reduce their exposures to lead and silica dust. Together we showed that these efforts minimized contamination and helped save lives.” Gottesfeld said.

The organization demonstrated the effectiveness of reducing airborne lead levels by working with miners to convert dry operations into wet methods. Water spray misting was proven to be highly effective while minimizing water consumption. In addition to significant reductions in the airborne lead, the authors reported that these control measures reduced the smaller respirable silica dust by 80 percent.

Philip Aruna, Head of Mission in Nigeria for Doctors Without Borders said: “OK International has exceeded expectations in bringing an entire community together to prevent severe lead poisoning and by demonstrating significant reductions in lead exposures among miners.”

Gottesfeld noted that “Following our extensive outreach and training, these miners were motivated to take measures to reduce hazardous lead exposures and invested their own time and money to implement these protective measures.”

The authors of the Study “Reducing Lead and Silica Dust Exposures in Small-Scale Mining in Northern Nigeria” published in Annals of Work Exposures and Health noted that average lead exposures among ore processors before the implementation of safer practices were 19 times greater than the U.S. Occupational Safety and Health Administration (OSHA) permissible limit for lead.

In Nigeria and in most other African countries, there are no occupational limits for exposure for lead or silica dust.

Silica dust causes silicosis, lung cancer and is a significant risk factor for tuberculosis (TB). Lead causes severe neurological deficits and death among children in these communities, but even at low exposure levels is responsible for 674,000 deaths each year primarily due to cardiovascular disease.

There are an estimated 40 million informal small-scale miners working in at least 70 countries around the world. Although some programs have attempted to reduce mercury exposures in these communities, this is the first such intervention to demonstrate reductions in lead and silica dust exposures. The authors of the published article note that in mining communities lead and silica hazards pose a far greater risk to human health than the use of mercury.

Dr. Adolphe Fotso, Medical Coordinator for Nigeria with Doctors Without Borders, and an author on the paper said, “this effort was an extraordinary success in reducing these significant health risks and protecting children from lead poisoning.”

In addition to introducing wet methods, OK International focused on training miners to implement simple measures including handwashing, showering, setting up separate eating areas, and changing out of work clothing before going home at the end of the day. The study estimated that the overall cost for introducing these measures in this community was approximately $5,000.

Economy

Wale Edun Rules Out IMF Loan for Nigeria

Published

1 hour ago

24/01/2025

Adedapo Adesanya

By Adedapo Adesanya

The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has said Nigeria may not run to the International Monetary Fund (IMF) for any loan.

He disclosed this in a chat with Arise Television on the sidelines of the ongoing World Economic Forum (WEF) in Davos, Switzerland.

The Minister affirmed that Nigeria has no reason to approach the global lender, adding that the nation is currently relying on relatively cheaper borrowing sources from the World Bank and the African Development Bank (AfDB).

He also argued that Nigeria does not have a balance of payments problem and therefore will not need the short-term financing intervention by the Bretton Wood institution.

“I can imagine the headlines if you saw a situation whereby you were saying Nigeria approaches the IMF for funding. But the reality is that, of course, as a developing country, requiring investment, funds for the government, and investment in key infrastructure to improve the enabling environment for business, we do need funds, and we have the need to borrow.

“We have relied on relatively cheap funding from the multilateral, from the World Bank, from AFDB, and the whole spectrum of funding has been used.”

He also said that the country will tap a range of instruments to help finance this year’s budget deficit and improve the economy.

“We have relied on Nigerian savings by convincing them of the macroeconomic plan of the president, and what it holds in terms of the prospects for growth of the economy and business, and improvement of the business environment.

“Of course, we have approached the Euro bond market, which is, of course, the commercial end of financing. So we’ve done that whole spectrum. When it comes to IMF financing, typically financing from the IMF is to help with short-term balance of payments issues and crises.

“In the case of Nigeria, we have a positive trade balance. We have a positive current account balance. Our reserves are growing. The Governor of the Central Bank recently announced that we had achieved upwards of $10 billion improvement and increase in the reserves.

“We need to use equity. We need to rely on crowding in the savings, particularly of the private sector in Nigeria and the private sector around the world in the form of foreign direct investment. We have to remember that at this time, we have had significant gains in terms of improving the economic environment,” Mr Edun stated.

Economy

NASD OTC Exchange Rises 0.33%

Published

8 hours ago

24/01/2025

Adedapo Adesanya

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange rose further by 0.33 per cent on Thursday, January 23, as appetite for unlisted stocks continued to grow.

During the trading session, the value of the bourse went up by N7.6 billion to N1.767 trillion from the N1.76 trillion it closed in the preceding session, as the NASD Unlisted Security Index (NSI) made an additional 10.33 points to wrap the trading day at 3,120.3 points compared with the 3,09.80 points recorded at the midweek session.

Business Post reports that the share price of Okitipupa Plc increased on Thursday by N4.35 to end the day at N47.90 per unit compared with the previous day’s N43.55 per unit, and Food Concepts Plc gained 14 Kobo to settle at N1.74 per share, in contrast to the preceding day’s N1.60 per share.

On the flip side, Impresit Bakolori Plc suffered a decline of 10 Kobo yesterday to trade at 95 Kobo per unit versus Wednesday’s closing price of N1.05 per unit.

When the exchange closed for the session, the volume of securities bought and sold by investors went up by 70,008 per cent to 407.4 million units from the 581,160 units transacted a day earlier.

Equally, the value of shares traded during the session jumped by 16,665.9 per cent to N391.2 million from the N2.3 million recorded at midweek, and the number of deals increased by 65 per cent to 30 deals from the 20 deals posted on Wednesday.

Impresit Bakolori Plc topped the activity chart as the most active stock by value (year-to-date) with 406.5 million units worth N386.1 million, followed by FrieslandCampina Wamco Nigeria Plc with 4.3 million units valued at N170.4 million, and Geo-Fluids Plc with 9.1 million units sold for N44.3 million.

However, Impresit Bakolori Plc snatched the top spot as most active stock by volume (year-to-date) with 406.5 million units worth N386.1 million, as Industrial and General Insurance (IGI) Plc dropped to second position for selling 26.3 million units sold for N6.3 million, and Geo-Fluids Plc occupied third with 9.2 million units valued at N44.3 million.

Economy

Naira Firms to N1,548/$1 at Official Market, Tumbles at Black Market

Published

10 hours ago

24/01/2025

Adedapo Adesanya

By Adedapo Adesanya

The Naira recovered about 0.26 per cent or N3.99 against the United States Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Thursday, January 23 after coming under pressure in recent times.

During the session, the exchange rate of the local currency to its American counterpart closed at N1,548.59/$1 in the official market compared with the previous day’s N1,552.58/$1.

Also, against the Pound Sterling, the domestic currency gained N3.32 yesterday to trade at N1,912.21/£1 compared with Wednesday’s value of N1,915.53/£1 and on the Euro, it improved by N3.82 to sell for N1,617.72/€1 versus N1,613.89/€1.

The forex market may be reacting positively to news that the Central Bank of Nigeria (CBN) would launch a FX Code, which will serve as a guideline to the banking industry to promote ethical conduct of Authorised Dealers in the Nigerian FX market, next week.

The code will further reduce speculative activities, eliminate market distortions, and give the CBN improved oversight capabilities to effectively regulate the market.

The bank noted that authorised dealers would subsequently conduct all FX transactions in the interbank FX market on the EFEMS approved by the apex bank where transactions will be reflected immediately.

However, in the black market segment, the Nigerian Naira lost N5 against the greenback during the session to quote at N1,665/$1, in contrast to midweek’s rate of N1,660/$1.

As for the cryptocurrency market, it was lively yesterday as attention is increasingly centered on potential policy developments under the government of President Donald Trump of the US.

On Thursday, President Trump signed an executive order to ban the digital dollar and promote crypto and AI innovation in the country.

Meanwhile, the US data released recently showed the “all tenant rent” index, which leads the shelter inflation in the Consumer Price Index (CPI), rose at a slower pace last quarter. That has raised hopes that the US Federal Reserve will walk back on its hawkish December rate forecasts.

These helped Ethereum (ETH) gain 5.4 per cent on Thursday to sell at $3,394.79, Solana (SOL) appreciated by 4.4 per cent to $260.86, Cardano (ADA) jumped by 2.9 per cent to $1.00, and Litecoin (LTC) expanded by 2.6 per cent to $116.78.

Further, Bitcoin (BTC) rose by 2.1 per cent to $1o4,978.31, Ripple (XRP) leapt by 0.7 per cent to $3.16, Dogecoin (DOGE) increased by 0.6 per cent to $0.3572, and Binance Coin (BNB) soared by 1.6 per cent to $710.31, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 each.