Illegal gold smuggling costs Nigeria $3b – Buhari

Gold smuggling

Forecasts $500m yearly earnings from royalties, taxes   President Muhammadu Buhari has decried that Nigeria lost close to $3b from 2012 – 2018 due to illegal smuggling of gold. He spoke yesterday during the official presentation of locally mined gold bars by the Presidential Artisanal Gold Mining Development Initiative (PAGMDI) at the Presidential Villa, Abuja. The president, who restated the determination of his administration to combat illegal mining activities, said improved gold mining operations in the country would generate no fewer than 250,000 jobs and over $500m annually in royalties…

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