General
Nigeria Targets $500m Annually from Gold Mining
By Dipo Olowookere
If gold mining operations are improved in Nigeria, not less than $500 million can be generated by the federal government from the sector in taxes and royalties.
This was the submission of President Muhammadu Buhari on Thursday in Abuja when he received the locally mined gold bars presented to him by the Presidential Artisanal Gold Mining Development Initiative (PAGMDI).
A statement issued by the Special Adviser to President on Media and Publicity, Mr Femi Adesina, stated that the President further said the sector could also generate no fewer than 250,000 jobs if the necessary policies and actions are taken.
During the presentation, Mr Buhari was quoted as reaffirming his administration’s commitment to establishing gold refineries in Nigeria.
According to the President, this laudable initiative would support efforts at the creation of jobs for Nigerians, diversifying the revenue base, and improving foreign exchange reserves.
Reiterating the determination of the federal government to combat illegal mining activities, he expressed concern that Nigeria lost close to $3 billion from 2012 – 2018 due to illegal smuggling of gold.
“With the implementation of the PAGDMI scheme which will result in the set-up of accredited gold buying centres across key mining areas, artisanal miners and SMEs engaged in mining will be able to capture the value of their work.
“These operations will help in diversifying our revenue base. The sale of gold by artisanal miners and SMEs at accredited centres will help the government in realizing royalties and taxes from the sale of these assets.
“These developments will also help in improving our foreign reserves by enabling the Central Bank of Nigeria to increase the amount of gold in its reserves.
“These gold assets which will be purchased in Naira, will not only help to bolster our international reserves, it will also provide a hedge against inflation and other economic volatilities associated with foreign currencies that are held in our reserves,” President Buhari was quoted as saying in the statement.
He noted that in addition to the potential revenue gains that will occur from mining operations, efforts are being made to enable the setting up of gold refineries in Nigeria.
Mr Buhari expressed optimism that these measures would lead to the creation of additional job opportunities across the gold value chain and also help the nation capture the additional value created from the gold refining process.
On environmental degradation, the Nigerian leader pledged that the government would pay close attention to safety and environmental measures to protect workers and the environment.
He also used the occasion to commend all stakeholders involved in the PAGMI for their painstaking efforts in developing a programme aimed at improved sourcing and refining of high-quality gold bars, derived from minefields in Nigeria.
President Buhari recalled that the PAGMI, which was launched in 2019, was well-timed, considering the impact of COVID-19 on the global economy and indeed on the Nigerian economy.
He said the impact of COVID-19 and the containment measures designed to slow the spread of the virus, had led to a slowdown in global growth, which is projected to decline into negative territory for the first time since the Great Depression.
“It has also led to a 40 per cent drop in crude oil prices. In Nigeria, the drop in crude oil prices has had a significant impact on government revenue, as well as on our foreign exchange earnings.
“In responding to this challenge, it is, therefore, paramount that we strengthen our efforts at implementing policies and programs that will enable a greater diversification of the Nigerian economy.
“Enabling investment in the Solid Mineral sector is a key part of the government’s economic diversification program.
“Given our current estimated gold reserves of over 200m ounces, most of which have not been exploited, developing sustainable programmes that will catalyse increased investment in the extraction and refining of gold sourced from mines in Nigeria, is indeed vital,” he said.
Emphasising the benefits of the PAGMDI, the President explained that it will support job creation efforts particularly for artisanal miners, by providing them with a guaranteed offtake by the Central Bank of Nigeria (CBN).
Furthermore, he said efforts are being made to support artisanal miners in improving the standard of the gold that will be sold to the apex bank, in order to ensure that they meet international benchmarks.
According to him, the initiative will enable the deployment of financing schemes that will help miners improve on the quality of their mining operations.
“The gold buying program by the Central Bank will ensure that artisanal miners are no longer subjected to the volatility in gold prices that occurs in the absence of credible off-takers, which has often led to a significant loss in the value of gold sold by miners, as well as in encouraging illegal smuggling,” he said.
General
2027 Lagos Guber: Sanwo-Olu Endorses Deputy Obafemi Hamzat
By Adedapo Adesanya
The Governor of Lagos State, Mr Babajide Sanwo-Olu, has endorsed his deputy, Mr Obafemi Hamzat, as his preferred candidate for the 2027 governorship election, under the banner of the All Progressives Congress (APC).
Mr Hamzat on Monday declared his intention to run for governor during a closed-door meeting at Lagos House, Marina, attended by members of the State Executive Council, party leaders and members of the Governor’s Advisory Council.
Among those present were former Minister of State for Defence, Mr Musiliu Obanikoro, and former senator, Mr Ganiyu Solomon.
Mr Sanwo-Olu described the endorsement as a consensus decision reached by stakeholders, saying his deputy possesses the experience and competence to lead the state.
“We just received Mr Deputy, who had come with a very powerful delegation of our leaders in the state to inform us of his intention to contest for the seat of the governorship position of the state,” the governor said.
“It was unanimous with all of us to say that Mr Deputy Governor is a man who is fit and well-prepared for this job. He is a man who knows where all the rooms in the house are,” he added.
The governor cited Mr Hamzat’s record in office and their working relationship over the past seven years as reasons for his support, describing him as loyal, committed and prepared for leadership.
“This is a deputy governor that is worth a governor from day one; this is a man that has been built for this job, and we believe that he deserves to be given a chance to go and run this state,” he emphasised.
Mr Sanwo-Olu also linked the political development to President Bola Tinubu’s longstanding influence in Lagos politics.
“We thank our father, our leader, Mr President, who saw the vision… that long run is what is already being manifested here today,” he noted.
He characterised the meeting as a family-style consultation involving party stakeholders and government officials, saying there was broad agreement in support of Mr Hamzat’s aspiration.
“It’s been a very warm family meeting, and at the end of the day, it was unanimous that Mr Deputy Governor is fit, ready, well baked… for this job,” he added.
The endorsement comes more than a year before party primaries are expected. However, political analysts say it suggests early alignment for the ruling party in the commercial capital.
Mr Hamzat is a former Commissioner for Works and Infrastructure in the state and a two-term deputy governor.
General
NECA Urges Stakeholders to Strengthen Psychosocial Work Environments for Sustainable Growth
By Modupe Gbadeyanka
Employers, policymakers, and other key stakeholders have been urged to intensify efforts toward developing and sustaining healthy psychosocial work environments as a critical pathway to improved productivity, employee well-being, and organisational resilience.
This call was made by the Nigeria Employers’ Consultative Association (NECA) in commemoration of the 2026 World Day for Safety and Health at Work, themed Good Psychosocial Working Environments: A Pathway to Thriving Workers and Strong Organisations.
The Director General of NECA, Mr Adewale-Smatt Oyerinde, noted that this year’s theme highlights the growing importance of mental and emotional well-being in the workplace and reinforces the need for a more holistic approach to occupational safety and health.
He further stated that while progress has been made in improving workplace practices, there is a need for sustained and collective action to further strengthen psychosocial conditions in line with evolving global standards, including guidance from the International Labour Organisation (ILO).
“Across sectors, there is increasing recognition that workplace wellbeing extends beyond physical safety. A healthy psychosocial work environment where employees feel valued, supported, and able to perform optimally is essential for organisational effectiveness and long-term sustainability,” the DG said.
He emphasised that psychosocial wellbeing is influenced by how work is structured, managed, and experienced, and encouraged stakeholders to adopt intentional strategies that promote positive work environments. These include clear job roles, manageable workloads, supportive leadership, open communication, and policies that promote work-life balance and inclusion.
“Creating healthy psychosocial work environments requires deliberate and continuous effort. Employers, in particular, play a pivotal role by embedding supportive systems and fostering workplace cultures rooted in trust, respect, and fairness,” he added.
Mr Oyerinde also underscored the importance of strengthening institutional frameworks and workplace practices that support employee well-being, including access to counselling services, employee engagement mechanisms, and transparent organisational policies.
He further referenced the NSITF–NECA Safe Workplace Intervention Project (SWIP) as a practical demonstration of NECA’s commitment to advancing workplace safety through proactive and preventive approaches. The initiative, implemented in collaboration with the Nigeria Social Insurance Trust Fund (NSITF), evolved from the Employees’ Compensation Scheme.
“While the Employees’ Compensation Scheme provides support in cases of workplace incidents, NECA continues to emphasise prevention as the most effective approach to workplace safety. This includes expanding the scope of safety initiatives to address psychosocial risks alongside physical hazards,” he stated.
Through SWIP, NECA, and NSITF, the organisations have supported organisations in strengthening occupational safety and health systems, conducted risk assessments, facilitated stakeholder engagement, and recognised organisations demonstrating strong commitment to safety standards.
Looking ahead, NECA urged all stakeholders to integrate psychosocial risk management into existing workplace safety frameworks, ensuring a more comprehensive and sustainable approach to employee well-being.
As part of activities marking this year’s commemoration, NECA will host a Knowledge Sharing Session on April 30, 2026, themed: “From Compliance to Commitment: Building Sustainable Safety Cultures at Work.” The session will provide a platform for stakeholders to share insights, exchange best practices, and reinforce collective commitment to safer and healthier workplaces.
NECA therefore calls on Employers, Government Institutions, and Social Partners to continue working collaboratively to build work environments that not only drive productivity but also support the dignity, well-being, and full potential of every worker.
General
Nigeria Targets Housing Gap with Technology-Led China Partnership
By Adedapo Adesanya
The federal government is advancing a partnership with China aimed at accelerating affordable housing delivery and closing Nigeria’s widening housing gap through technology-driven and scalable solutions.
This followed a technical study tour to Guangzhou led by the director general and global liaison of the Nigeria-China Strategic Partnership, Mr Joseph Tegbe, alongside a delegation from Family Homes Funds Limited, the office stated in a statement on Monday.
According to the agency, the delegation included the managing director, Mr Abdul Mutallab Mukhtar, and the executive director of Operations, Mr Emeka Henry Inegbu.
The engagement focused on unlocking strategic partnerships to integrate modular and prefabricated housing technologies into Nigeria’s construction ecosystem—an approach expected to significantly reduce building costs, shorten delivery timelines, and improve quality at scale.
With Nigeria’s housing deficit estimated in the millions, the federal government is increasingly prioritising industrialised construction methods and international collaboration to drive sustainable housing delivery.
Discussions also explored potential partnerships with leading engineering, procurement, and construction (EPC) firms to strengthen execution capacity for large-scale social housing projects.
The delegation also engaged prospective financing partners to mobilise long-term capital required to fund affordable housing initiatives and expand access for low- and middle-income earners.
The agency said the meetings were facilitated by Joerno Conceptions Limited and the E-Link Group in China. The engagements were further strengthened through the cooperation of Zou Gang, the executive deputy director of the China-Africa Economic and Trade Enterprises Working Committee, underscoring the depth of institutional collaboration supporting the initiative.
The firm noted that the move signals a shift toward results-oriented bilateral engagement, where technical expertise, capital mobilisation, and policy alignment converge to deliver measurable outcomes.
“By leveraging China’s advanced construction capabilities to meet Nigeria’s urgent housing needs, the partnership is positioned not only to expand access to affordable homes but also to stimulate job creation, strengthen local value chains, and enhance urban resilience,” it said.
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