Experts in the extractive industry are advocating for technology-driven policy reforms in the mining sector to improve inclusiveness, strengthen institutional frameworks, and enhance community engagement.
The leaders who made the call during a two-day multistakeholder roundtable in Abuja, highlighted the sector’s potential for economic growth and development, haven experienced setback over the years due to lack of political will to implement some of the policies.
Dr. Orji Ogbonnaya Orji, Executive Secretary of NEITI, stated that the NEITI report indicates a slight increase in the solid minerals sector’s GDP contribution from 0.26% in 2019 to 0.63% in 2021, despite its potential for economic growth and development.
He stressed the need to balance economic growth with environmental stewardship, community welfare, and equitable distribution of natural resources. ”Male-dominated extractive industry has negative implications, including limited access for women in job opportunities, training, skills acquisition, investments, and managing natural resources endowments”.
Contributing, House Committee Chairman on Solid Minerals, Hon. Gaza Gbefwi, criticizes the current mining act for not being sensitive to host community needs, citing a Community Development Agreement (CDA), which he investigated shows minimal community contributions.
He revealed that the committee has proposed that mining companies should donate 5% of their earnings to a community development association to address inequality in the Solid Minerals Act review.
Executive Director of Global Rights, Abiodun Bayeiwu, highlighted the country’s dwindling economy and the unregulated nature of the extractive sector. She emphasized the need for the government to understand the end of the oil era and ensure that the right people are engaged in the right conversations to drive economic growth in Nigeria.
The theme of this year’s Roundtable is, “’Enhancing Inclusiveness – An Imperative for Promoting Transparency, Accountability, and Development in Nigeria’s Extractive Industry”, organised by Global Rights in collaboration with Nigeria Extractive Industries Transparency Initiative (NEITI) and Ministry of Solid Minerals Development, to promote fiscal transparency and explore sustainable development opportunities- FRCN
