FG: Lagos Gold Refinery Is Private Investment, Not Government Project
The Federal Government has clarified that the newly established gold refinery in Lagos is a wholly private-sector initiative by Kian Smith Company, dismissing claims by the Northern Elders’ Forum (NEF) that the facility was owned or sited by the government in breach of the federal character principle.
The Forum had earlier alleged that the federal government sited a gold refinery in Lagos and on that basis, criticised the location of the refinery as a violation of the principle of federal character.
However, FG, in a statement signed by the Special Assistant on Media to the minister of Solid Minerals, Mr. Segun Tomori, noted that, there was no where in the minister of Solid Minerals announced that the federal government owned or established a gold refinery in Lagos or anywhere for that matter.
The refinery is expected to facilitate the development of local gold industry through innovative practices.
“The minister, Dr. Dele Alake was very clear, concise and emphatic in the announcement of the proposed commissioning of the refinery that other gold refineries are in the works across the country – and all privately owned by different companies, ” he stressed.
While congratulating the founder and managing director, Nere Emiko for her doggedness in delivering a dream project after years of perseverance, enterprise and leadership, he said, the refinery captures the response of the solid minerals sector to the policy of Value Addition enunciated by the ministry of Solid Minerals Development two years ago which discourages export of raw minerals and localises the processing and manufacturing of minerals.
“This policy has stimulated the conversion of raw minerals export to processing factories across the country, generating massive inflow of foreign capital and provision of thousands of jobs to Nigerians. These include the $600 million lithium plant in Nasarawa state, the $400 million rare earth plant also in Nasarawa State and the $200 million ASBA lithium plant in Abuja,” he pointed out.
To him “we are shocked at the debilitating degeneration in the quality of leadership of the NEF, an organisation that used to act as a think-tank of serious discourse decades ago, which, by its recent utterances has become a parody of its pioneers.
“How could the NEF expect the Federal Government to force a private company to locate its operations in a particular area of the federation when each company has its operational and marketing strategy to ensure its profitability?”
The ministry of Solid Minerals Development, through its policy reforms has been creating the enabling environment for the private sector to thrive and flourish in the mining sector in the last two years and the Lagos gold refinery and others are eloquent testimonies to the efficacy of the solid minerals sector reforms.
“How could the NEF fail to conduct basic due diligence and research before displaying such embarrassing ignorance while purporting to act on behalf of the North, a region that boasts of accomplished academics and professionals? ” he queried.
This negligence, he noted, could only have been the result of deliberate mischief, orchestration of mistrust and acceleration of irresponsible militancy.
He promised that his ministry shall continue to encourage more mining companies to set up processing and manufacturing plants across the country, adding that, “we urge NEF to turn a new leaf and join the efforts of President Bola Ahmed Tinubu to build a stronger, self-reliant economy that meets the needs of the Nigerian people.”
