Nigeria Lost $3b To Illegal Smuggling Of Gold – Buhari

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By Yinka Adekunle

President Muhammadu Buhari says Nigeria lost about $3billion to illegal smuggling of gold between 2012 and 2018.

Speaking during the official presentation of locally mined gold bars by the Presidential Artisanal Gold Mining Development Initiative at the Presidential Villa in Abuja, Buhari said the country is expected to generate more than $500 million yearly in royalties and taxes and around 250,000 jobs from the improved gold mining operations in the country.
While hailing the initiative and reaffirming the administration’s commitment to establishing gold refineries in the country, Buhari lamented the huge resources that had been lost to illegal mining and smuggling in the mining industry.

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