FG moves to stop $9 million yearly mining loss

The Federal Executive Council (FEC) meeting chaired by President Muhammadu Buhari on Wednesday approved moves to check illegal mining in the country.

The measure will stop yearly exportation of illegally mined $9 million gold and tin among other minerals.

The Minister of Mines and Steel, Kayode Fayemi, disclosed this to State House reporters at the end of the meeting.

As a starting point, he said that the Federal Executive Council on Wednesday approved purchase of 50 Toyota Hilux vans for surveillance task force across the country.

This, he said, will boost mining and steel contribution to the Gross Domestic Product (GDP).

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