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    MarketForces Africa » MarketForces News » Mining Act Review Critical to Sanitise Sector-Miners

    Mining Act Review Critical to Sanitise Sector-Miners

    Marketforces AfricaBy Marketforces AfricaMay 9, 2024 News No Comments2 Mins Read
    Mining Act Review Critical to Sanitise Sector-Miners
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    Mining Act Review Critical to Sanitise Sector-Miners

    The Miners Association of Nigeria (MAN) has said the critical review of the Nigerian Minerals and Mining Act (NMMA) 2007 would sanitise the sector. The National President of MAN, Mr Dele Ayanleke, said this in an interview on Wednesday in Abuja.

    Ayanleke explained that the review was necessary to address a brewing constitutional crisis with grave economic consequences in the sector. He emphasised the need for orientation on how the currently existing provisions of the constitution and the mining act under review could be explored to address current challenges in the sector.

    He urged due process to be adopted for the review of the act to ensure its effectiveness. We hold a strong view that the dynamism of human society calls for periodic reviews and reforms of the system.

    “Hence the legal and regulatory frameworks in the national mining ecosystem, having been in place for close to two decades call for review. It is however imperative that such review must also follow the due process of the rule of law,” he said.

    The Minister of Solid Minerals Development, Dele Alake, in 2023 had proposed the review of the mining law to compel investors to obtain the consent of communities before applying for mineral titles.

    Also, at the Policy Dialogue on Solid Minerals organised by the House Committee on Solid Minerals in February, the chairman of the committee, Jonathan Gbefwi, said the reform was aimed at ensuring the law meets the country`s current realities.

    According to Ayanleke, MAN is fully supporting ongoing initiatives by the National Assembly and the Ministry of Solid Minerals Development to review the act, urging more robust dialogue as the process progresses.

    “This is necessary given an item in the proposed constitutional review which mentions the involvement of state governments in mining, “he said. In April 2023, the Federal Executive Council approved the proposed bill of the Nigerian Minerals and Mining Act, 2023 aimed at revising the law to govern the sector.

    The new NMMA is expected to address key issues within the sector, such as governance and local content, with the hope of formalising the sector and improving relations with local communities, among other objectives. Central Bank of Nigeria Suspends Charges on Cash Deposits

    Banks CBN Central Bank of Nigeria FGN Investors Naira Nigeria
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