NACCIMA applauds fed govt on launch of PAGMI

By Ambrose Nnaji

The Nigerian Association of Chamber Of Commerce Industry Mines and Agriculture (NACCIMA), has commended the present administration under the leadership of President Muhammadu Buhari, on the unveiling of the Presidential Artisanal Gold Mining Development Initiative (PAGMI)

PAGMI is designed to nurture the formalization and integration of artisanal Gold Mining activities into the nation’s legal, economic and Institutional framework. While describing the move as laudable, the association said the initiative would deploy safer and more efficient Mining and processing technologies across artisanal mining locations throughout the federation, with emphasis on states which are endowed with vast gold deposits.

In a statement made available to Nation Update, the Director General of NACCIMA Ambassador Ayoola Olukanni, said the Chamber appreciated the presentation of the 12.5kg Gold bar reportedly worth N268million to the Central Bank of Nigeria (CBN) Governor for the nation’s reserves, as a visible evidence of the potential 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 noted this as possibility of achieving the goals, in the 2016 Roadmap for the Growth and Development of the Mining Industry

According to the director if vigorously pursued, activities in the Mining Sector could grow exponentially and contribute as much as $27billion to GDP by 2025 as envisioned under the Road Map. While the association welcomed this positive indicator, it however called 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 the association viewed PAGMI as a bold initiative and concrete step to truly diversify the economy by tapping fully into the Mining Sector. He advised federal government to encourage the Private Sector through various incentives to play its role in this direction adding that chamber members were committed to doing their part including through Public-Private Partnership (PPP).

He also noted as a National Chamber with focus on the Mining Sector as one of the priority areas of its operations, NACCIMA had commenced steps to be part of the initiative and encouraging 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 leading objective of involvement and encouragement of members from the mining states Ayoola noted was to expand the scope for the Private Sector to also participate actively in the National Gold Purchase Programme enshrined in the PAGMI.