Economy

(Re-issue) FG plans to train Nigerians on art of making Gold Jewellery

Published

5 years ago

July 29, 2020

The Federal Government says it is making plans with foreign experts to train some Nigerians in the art of Gold Jewellery making.

Mr Olamilekan Adegbite, Minister of Mines and Steel Development, made this known while briefing newsmen on the recently launched Presidential Artisanal Gold Mining Development Initiative (PAGMI) on Tuesday in Abuja.
The News Agency of Nigeria (NAN), reports that PAGMI is a comprehensive artisanal and small scale gold mining development programme.
The initiative which was recently launched, was to foster the formalisation and integration of artisanal gold mining activities into the country`s legal, economic, and institutional framework.
Adegbite said that the initiative was designed to integrate social, environmental health and safety, economic, commercial, and technical considerations.
“We are making efforts as a ministry through the MinDiver project; experts would be coming into the country shortly once the ban on international air travel is lifted.
“We are selecting about 40 persons to be trained in Jewellery making, we are bringing in international experts and we would be picking one person per state, including the Federal Character Territory (FCT).
“Essentially, they are going to be training the trainers who will also train others across the federation. Apart from the gold itself, we are also looking at turning gold to Jewellery,“ the minister said.
He added that the essence was to add value to the country`s gold, create employment and boost the economy in line with Federal Government’s economy diversification programme.
The minister, however, called on interested investors to invest in the Presidential Artisanal Gold Mining Development Initiative (PAGMI), adding that it was open to interested investors.
“While the government’s proof of consent goes on, we encourage individuals, especially Nigerians who are interested in mining to put their monies into the initiative,“ Adegbite said.
He expressed optimism that because government was a continuum, the initiative would outlive the present administration.
Adegbite stressed that the underlining principle of every government project should be the impact it had on the people and the benefits so derived.
The minister added that it should not be about the government that initiated a particular project, saying that once a project was beneficial to the people it should be sustained even when there was a change of government.
“Because this gold economy is good for our country, no matter the administration that comes after President Muhammadu Buhari-led administration, I believe the initiative will be continued, “ he said.
Also speaking at the event, Hajiya Fatima Shinkafi, PAGMI Executive Secretary, said the initiative was aimed at formalising the value chain from the artisanal miners’ perspective.
She said that the initiative would ensure value addition to both the private sector investors and government as well as increase the country`s foreign reserve.
According to her, Osun and Kebbi has been approved as pilot states for the initiative while bio-metric exercise has been carried out in the states.
She said about 50 gold buying centres were established across the country at the moment, while efforts were on to equip the centres.
She added that the buying centres would serve as aggregators and would be accredited by the Ministry of Mines and Steel Development in partnership with PAGMI, keeping to international best practices guidelines for responsibly-sort gold.
“We want them to be profit driven, we want to bring the artisans from the dark into the light so that they don’t operate under the radar and are cheated by middle men,“ she said.
NAN further reports that the first time ever artisanal-mined gold was processed and refined according to the London Bullion Market Association (LBMA), standards in Nigeria was in June.
The standards are required for the use of gold as a reserve instrument by the Central Bank of Nigeria (CBN).
By the PAGMI initiative, the CBN will be purchasing gold that has been mined, processed and refined from miners as part of the country`s external reserves rather than allowing them sell same through meddle men.(NAN)

Economy

FGN, Sign $400m Deal To Boost Local Steel Production

Published

4 days ago

October 29, 2025

Our Reporter

From Hassan Taiye

The Federal Government of Nigeria, FGN, through the Ministry of Steel Development, has signed a Joint Strategic Cooperation Declaration with Stellar Steel Company Limited.

Stellar Steel Company Limited is a steel-manufacturing enterprise established to operate in Nigeria, with major investment backing from Chinese parent groups: Galaxy Group and RSIN Group based in Fuzhou, Fujian Province, China.

The company has committed approximately US$450 million for a steel plant project in Ogun State, Nigeria, scheduled to begin operations by mid-2026.

This landmark partnership is aimed at revitalising Nigeria’s steel industry and reducing the nation’s dependence on imported steel products, according to a statement signed by the the Principal Information Officer, PIO, Ijomah Opia, for the director, Information and Public Relations in the ministry.

The agreement, signed in Abuja, on Tuesday 28th October, 2025 will see Stellar Steel invest $400 million in the construction of a modern Steel Plant in Ewekoro, Ogun State. The project will be developed in three phases, with the first phase expected to begin production by 2026.

The Minister of Steel Development Prince Shuaibu Abubakar Audu signed the agreement when he hosted Mr Li, President of Inner Galaxy Group and other members of the Stellar Steel Company Limited in the Ministry’s Headquarters in Abuja.

According to Prince Audu, the collaboration aligns with the federal government’s goal of achieving 10 million tonnes of crude steel production per annum by 2030, a major step toward industrial self-reliance and economic diversification.

The minister further stated that the Federal Ministry of Steel Development would facilitate policy and infrastructure support, including inclusion of Stellar Steel’s logistics projects in the National Infrastructure Plan and access to available fiscal incentives.

Highlights of the cooperation includes the followings:

1.Development of a localised iron ore supply chain to reduce import dependence and save over $1 billion in foreign exchange annually.

Creation of more than 2,000 direct and 20,000 indirect jobs across the steel value chain.
Promotion of green steel production using clean and energy-efficient technologies.
Strengthening of Nigeria’s position as a regional steel manufacturing hub in West Africa.

Audi also said that in return, Stellar Steel would prioritise local recruitment and training, partnering with Nigerian universities to build technical and managerial expertise in steel production.

Prince Shuaibu emphasised that this strategic cooperation marks a new era for Nigeria’s steel industry and demonstrates the government’s commitment to sustainable industrial growth and economic transformation.

In his remarks the leader of the delegation, Mr Li assured the minister that Stellar Steel would respect all agreements reached and would ensure the completion of the project in record time and assured that all safety standards will be observed.

Mr Li was accompanied during the visit by Mr You Xiastian, Vice Chairman of RSIN Group, Mr Jackie Den, Vice President of Inner Galaxy Group and Mr Yin, Director of RSIN Group.

He recalled that the Minister of Steel Development, Prince Audu, performed the groundbreaking ceremony of the Steel Plant in Ogun State sometime in April, 2025.

Speaking at the signing, representatives of both parties emphasised that the partnership would strengthen Nigeria’s industrial base, create jobs, and foster technology transfer in the sector.

Economy

EU Delegation Strengthens Ties with Nigerian Senate

Published

4 days ago

October 29, 2025

Our Reporter

From Hassan Taiye

A high-level delegation from the European Union (EU) Parliament’s Foreign Affairs Committee, led by Mr. David McAllister, paid a courtesy visit to the Nigerian Senate today October 28, 2025.

“We are here to deepen our understanding of the situation in West Africa and strengthen our partnership with Nigeria,” McAllister said.

Senate President Godswill Akpabio welcomed the delegation, emphasizing Nigeria’s strategic partnership with the EU. “Nigeria is committed to strengthening ties with the EU, highlighting areas of mutual interest, including security, trade, and governance,” Akpabio said.

The delegation, comprising Ambassador Greta Mylott, EU Ambassador to Nigeria and ECOWAS, Miss Zelaya Zorko, Miss Mata Tamido, Sebastian Tankman, General Christophe Gomart, and Sebastian Buharo, is undertaking a comprehensive tour of West Africa, with stops in Nigeria and Ghana.

During the visit, Akpabio shed light on the challenges facing female representation in Nigeria’s parliament. “Women often vote for male candidates, making it difficult for female candidates to win elections,” he noted.

“The Senate is exploring innovative solutions, including constitutional amendments, to boost female participation in the legislative process, with support from organizations like the Black Women’s Forum.”

The EU delegation’s visit aims to foster greater understanding and cooperation between the EU and Nigeria, addressing shared concerns, such as terrorism, climate change, and economic development.

“The EU is committed to supporting Nigeria’s development efforts,” McAllister assured the Senate, emphasizing the bloc’s interest in seeing a stable, prosperous, and democratic Nigeria.

Their visit also includes participation in the forthcoming International Islamic Conference on Security and Governance in West Africa and the Sahel, scheduled for November 4-6, 2025 at ECOWAS Commission.

Akpabio expressed optimism about the potential for enhanced cooperation, highlighting Nigeria’s readiness to work with the EU to address common challenges.

Economy

RED ALERT: Farmers Warn Nigeria May Struggle to Contain Food Inflation in Coming Months

Published

3 weeks ago

October 13, 2025

Our Reporter

By: Fabian Apechihin

Agricultural stakeholders have raised alarm that Nigeria may be unable to rein in rising food inflation in the coming months due to mounting challenges facing the sector.

Speaking on the issue, a leading agronomist, Emiju, identified the high cost of farm inputs and scarcity of labour as key factors discouraging farmers, warning that these constraints could have serious implications for national food production and availability.

He advised farmers to adopt cooperative savings models or microfinance options to access funding for large-scale input purchases. According to him, such collaborative financial strategies would help smallholders cope with the escalating costs of seeds, fertilizers, and machinery.

Emiju further encouraged farmers to seek bulk purchasing arrangements, explore discount opportunities, and consider alternative, cost-effective inputs where possible. He also urged them to organise community labour-sharing initiatives and invest in mechanisation to cushion the impact of labour shortages and rising production costs.

Highlighting the importance of accurate data in addressing the crisis, he noted that robust agricultural data remains one of the most essential tools for evidence-based planning, monitoring, and policy formulation in Nigeria’s agricultural sector.

“It provides a realistic picture of production outcomes, farmer experiences, and sectoral constraints, upon which informed decisions and targeted interventions can be built,” he said.

He commended recent efforts to improve agricultural data quality, including the Farm Family Census, the Tractor Census, and complementary studies on commodity prices, describing them as steps toward greater transparency and excellence in agricultural performance reporting.