We’re Determined To Build An Orderly, Investment-Friendly Solid Minerals Sector – Buni

Governor Mai Mala Buni of Yobe State has reaffirmed his administration’s commitment to developing an orderly, transparent and investment-friendly solid minerals sector as part of efforts to drive economic diversification and sustainable growth.

The governor made this known on while declaring open a two-day stakeholders’ engagement on the 2024 Solid Minerals Industry Audit Tripartite Reconciliation Meeting held at the WAWA Hall, Government House, Damaturu.

A statement issued by the Press Secretary to the Deputy Governor, Hussaini Mai Suleh said the engagement, organised by the Nigeria Extractive Industries Transparency Initiative (NEITI), was themed “Unlocking Nigeria’s Solid Minerals Potential for Economic Diversification.”

Buni who was represented by his deputy, Hon. Idi Barde Gubana, Buni said the theme of the meeting speaks directly to Nigeria’s current economic priorities, noting that the solid minerals sector remains a viable pathway to industrial growth, job creation, increased subnational revenue and long-term prosperity.

“At a time when the nation is intensifying efforts to broaden the base of its economy, the solid minerals sector offers a credible pathway to industrial growth, employment generation and sustainable prosperity,” he said.

He stressed that his administration is focused on building a sector that is not only investment-friendly but also environmentally responsible, while ensuring transparency and accountability in operations.

Buni further underscored the need to curb informal and unsafe mining practices, promote value addition, and create a governance framework that inspires confidence among both local and international investors.

He called on all participating companies, ministries, departments and agencies, as well as other reporting entities, to cooperate fully with the reconciliation process by ensuring that all submissions are accurate and complete.

The governor also commended NEITI for choosing Yobe State to host the national exercise and acknowledged the efforts of the Yobe State Mining Development Company Limited in facilitating the engagement.

The Executive Secretary of NEITI, Hon. Musa Sarkin Adar has while speaking, noted that meaningful development can only be achieved when natural resources are governed with vision, discipline, transparency and responsibility.

Adar added that growth in the sector also depends on confidence in licensing processes, credibility in production data, clarity in revenue flows, and accountability in public institutions.

According to him, fairness in the relationship among operators, host communities and government, as well as equitable distribution of benefits, remains critical to the sector’s sustainability.

In his welcome address, the Managing Director of Yobe State Mining Development Company Limited, Engr. Bamodu Yerima, said the meeting was aimed at reconciling figures, strengthening institutions and reinforcing a culture of accountability in extractive resource management.

He observed that Yobe State is richly endowed with mineral resources across its three senatorial districts and expressed optimism that the engagement would provide practical solutions to challenges in the sector.

Yerima added that discussions would focus on improving accurate tracking of solid minerals and addressing longstanding discrepancies in audit reporting.

Delivering a lead paper on “Minerals Endowment in the North East,” the Director of Policy Planning and Strategy, Dr. Dieter Bassi, recommended the establishment of a regional Special Purpose Vehicle (SPV) by states in the region to harness mineral resources through partnerships with investors through NLNG frameworks.

He also advocated the creation of a community-based security network to tackle illegal mining, as well as the introduction of training programmes for youths in areas such as stone polishing to boost local capacity.

Bassi further urged state governments to promote collaboration between industry and academia, particularly state universities, to generate credible geoscientific data necessary for informed investment decisions.