FG calls for transparency, accountability in mining sector

By Joy Baba-Yesufu

Lack of transparency and accountability in the mining sector has been described as the bane of development and proper safeguards to many mining host communities in Nigeria.
This was made known by the minister of mines and steel development, Olamilekan Adegbite in Abuja at a town hall meeting on ‘promoting fiscal justice and social safeguards in the solid mineral sector’ organized by Global Rights.
The minister, who was represented by the ministry’s director of investment promotion and trade, Mr Imeh Ekrikpo said the issues of transparency has been in the front burner in recent times, in all facet of the economy adding that the ministry is doing all it can within the available resources to conform to the basic tenets of transparency initiatives.
He said “we have done some remarkable reforms in the ministry’s regulation that has given confidence that we are beginning to understand the peculiarity of the environment we operate in and a few changes we have made in our finances in government.
“How we capture government revenues from royalties, from taxes, capacity building that we have undertaken has empowered our officials to begin to do some of those things more transparently. Reporting what is accruable to the government more accurately, we are making giants stride to achieve a lot in these areas”
In her welcome address, executive director, Global Rights, Abiodun Baiyewu said several reports from different agencies have shown that Nigeria is losing billions of dollars as a result of lack of transparency.
She further said that citizens need to demand accountability from the government to ensure those loopholes are blocked and to ensure everything is put out in there for everyone to see.
Also speaking at the event, executive secretary, Nigeria Extractive Industries Transparency Initiatives (NEITI) Orji Ogbonnaya Orji said social safeguards are policies or tools deployed to prevent and mitigate undue harm to people during mining process.
He also said safeguards helps assess the potential social risks and impacts associated with mine development, defining measures and processes to effectively manage risk and enhance positive impacts.
Orji, who was represented by NEITI director of communication, Obiageli Onuoha said accountability is also a component of fiscal justice making sure that taxes paid to government are used appropriately and prudently.