The Federal Government is launching a forensic audit of Nigeria’s mining sector in order to overhaul and sanitize the industry.
Dele Alake, Nigeria’s Minister of Solid Minerals Development disclosed this while speaking on Wednesday, August 14, 2024, during a meeting with Plateau State Governor Caleb Mutfwang.
Mr Alake explained that the planned audit is aimed at scrutinising the sector’s financial records to boost investor confidence and strengthen the regulatory framework.
He emphasized that this initiative is part of broader efforts to ensure transparency and accountability in the mining industry and ultimately make the mining sector more attractive to both local and international investors.
In a statement by Segun Tomori, the minister’s media aide, Mr Alake said, “I can reveal that we are going to embark on a forensic audit of the entire sector
“We are collaborating with the Ministry of Science and Technology on satellite imaging, in line with the directive of Mr President.
“This will assist in monitoring activities at mining sites and consequently bolster our capacity to effectively secure the mining environment.
“We are working towards creating an environmental protection and rehabilitation fund to establish a pool of resources that can be used for remediation efforts.
“This includes covering or converting abandoned pits, which pose a danger to our citizens and communities, into productive uses like irrigation.”
In response, Mutfwang urged the federal government to resurrect the state’s deserted mining pits.
According to the governor, abandoned sites can be revitalised using ecological money.