NACCIMA Applauds President Buhari for Launching of PAGMI

A group under the aegis of Nigerian Association of Chamber Of Commerce Industry Mines and Agriculture (NACCIMA) has commended President Muhammadu Buhari, GCFR on the launching of the Presidential Artisanal Gold Mining Development Initiative (PAGMI) which was designed to foster the formalization and integration of artisanal Gold Mining activities into the nation’s legal, economic and Institutional framework.  The Association also describes the move as truly laudable and that the initiative will deploy safer and more efficient Mining and Processing technologies across artisanal mining locations across the country, with focus on States which are endowed with vast Gold deposits.

In a statement endorsed by Ambassador Ayoola Olukanni, Director General of NACCIMA saying the Chamber sees the presentation, by President Buhari, of the 12.5kg Gold bar reportedly worth N268million to the CBN Governor for the nation’s reserves, as a visible evidence of the potentials, to significantly scale up contribution of the Nigerian Mining Sector, to the economy.   Also worthy of note is the indication that PAGMI, with its safe modern operations can generate about 250,000 jobs and over $500million in Taxes and Royalties.  The Association views this as possibility of achieving the goals, in the 2016 Roadmap for the Growth and Development of the Mining Industry and that indeed if vigorously pursued, activities in the Mining Sector can grow exponentially and contribute as much as $27billion to GDP by 2025 as envisioned under the Road Map.  While the Association welcomes this positive indicator, it however calls for greater involvement of the Private Sector and especially Chamber members in States with Gold deposit in the implementation of the initiative.

Ayoola further said that the Association views PAGMI as a bold initiative and concrete step, to truly diversify the economy by tapping fully into the Mining Sector and advices that Government should encourage the Private Sector through various incentives to play its role in this direction and Chamber members of NACCIMA are poised and ready to do their part including through Public-Private Partnership (PPP).

He also noted that as a National Chamber with focus on the Mining Sector as one of the priority areas of its operations, NACCIMA has commenced steps to be part of the initiative and is encouraging Chamber members, especially those in the Gold Mining States identified for the pilot scheme namely; Kebbi, Osun, Kaduna, Zamfara and Niger States to key into the Scheme. The prime objective of involvement and encouragement of Chamber members from the Mining States is to expand the scope for the Private Sector to also participate actively in the National Gold Purchase Programme encapsulated in the PAGMI.

July 25, 2020