Muhammadu Buhari: Nigeria Lost N3bn in a Gold Biz.

Nigeria president
Nigeria has lost up to 3billionaira in an illegal smulggling of gold for over eight years.

The president of Nigeria, president Muhammadu Buhari who was lamenting on the issue yesterday also said at the official presentation of locally mined gold bars by the Presidential Artisanal Gold Mining Development Initiative, PAGMDI, at the Council Chamber, Presidential Villa, Abuja that if Nigeria can improve a gold mining,it will really provide much employment in the country and also generate revenue to the federal government.

The president emphasizes that this issue of establishing gold refineries in Nigeria will also help in developing the country's economy and improve foreign exchange reserves.

Because of the amount of money the country had lost, starting from the year 2012 – 2018 due to illegal smuggling of gold,the federal government has decided to fight against illegal mining activities,and the only and best way to do that is by creating and developing gold refineries in Nigeria.

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In  President Muhammadu Buhari's statement issued by his special adviser on Media and Publicity, Chief Femi Adesina,said that this proposal will help in enabling the Central Bank of Nigeria to increase the amount of gold in its reserves and also provide protection against rise in the price of goods and services in the country.

The president promised to ensure adequate securities for the workers and the environment and also urged the people who are in charge of the development to set a programe that will aimed at improved sourcing and refining of high-quality gold bars, derived from minefields in Nigeria.

But most importantly,the protection and salfguarding of the miners who are so dedicated to carry out their duties but have been doing that illegally and so many risky ways due to improper arrangement of things in the country.

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