NEC expands committee to tackle illegal mining
Nigeria’s National Economic and Financial Council expanded its anti-theft committee to curb illegal mining operations that drain government revenue. Vice President Kashim Shettima led the 152nd council meeting on Thursday, where officials added solid minerals protection to a group that previously focused only on oil theft.
Imo State Governor Hope Uzodinma said the committee helped increase crude oil production from 800,000 barrels per day in May 2023 to 1.7 million barrels per day by this month. The council wants similar results for gold and other minerals that criminals extract without paying taxes or royalties.
President Bola Tinubu proposed renovating security training facilities nationwide after Minister Abubakar Atiku Bagudu presented plans for a trillion-dollar economy by 2030. Enugu State Governor Peter Mbah will lead a committee that has one month to assess police academies and recommend repairs.
The council approved regular economic briefings and continued infrastructure investments through the Renewed Hope Fund. National accounts held $535,823 in excess crude reserves and 87.7 billion naira in stabilization funds as of Wednesday.
