The Lagos Chamber of Commerce & lndustry (LCCI), has raised the alarm over the planned consideration by the National Security Council to impose a nationwide ban on motorcycles and mining activities in the country. The Director General, LCCI, Dr Chinyere Almona, said though, they acknowledge that the strategy is to curb terrorist activities and disconnect them from their sources of funding, the LCCI Mining and Solid Minerals Group however, is concerned about the unintended consequences the ban will have on the mining sector and the business environment.
The LCCI chief stated that whilst it can be understood that criminals use motorcycles as means of mobility and escape from the security agencies, it is unacceptable to label the entire Nigerian mining ecosystem as sponsors of banditry and terrorism.
According to her it looks like an attempt to blame all legitimate mining operators for the activities of bandits and terrorists operating in Nigeria. She revealed that Nigerian mining industry employs several thousands in the formal and informal economy of Nigeria.
She said: “Specifically, the artisanal and small-scale mining ecosystem accounts for at least 90 per cent of the activities in the mining sector; from granite quarrying, limestone mining, to base metals mining. Others are limestone mining for cement production, sand mining, non-metallic industrial inputs for the paint and pharmaceutical industry, to mining of precious metals like gold; as well as gemstones mining.”
She lamented that the recent announcement has further validated to foreign and local investors that it is unsafe for them to invest in Nigeria’s mining sector. Furthermore, the existing local investors who have secured loans to finance their mining projects across Nigeria are at the risk of losing their investments of several years she added.
She said the proposal has further damaged the diversification plans of the federal government to pursue a non-oil exports-based economy.
She said: “According to the CBN economic reports between 2015 to 2020; the total value of solid minerals exports within that period was US$1.75billion.”
