The Federal Authorities has, for the umpteenth time, warned in opposition to exportation of unrefined gems or strong minerals.

It warned that it’s a felony offence for anybody to bask in such, saying the federal government was dedicated to guard its valuable stones and make fortunes out of them.

Everlasting Secretary, Federal Ministry of Mines and Metal Improvement, Dr. Oluwatoyin Akinlade spoke in Lagos on the Gold and Gems convention and exhibition organised by the state chapter of Girls in Mining (WiMin) with the theme, “Unveiling Nigerian Gold and Gems to the World.”

In keeping with Future Market Insights, the worldwide gemstone market is at present value $30.8 billion and is projected to hit $53.1 billion by 2032.

However Nigeria is alleged to be dropping $3bn yearly to unlawful trades in gems prompting the federal authorities to beam a searchlight on the unlawful trades and devise a coverage that may make it a felony offence to export strong mineral deposits of their pure state with out worth addition.

It could be recalled that the Minister of Mines and Metal Improvement, Mr. Olamilekan Adegbite had stated in Lagos that underneath the coverage, the Central Financial institution of Nigeria (CBN) will act as off-taker to buy refined gold produced by indigenous miners.

Reiterating this, the Everlasting Secretary stated the federal authorities was not prepared to show the strong minerals trade to a different oil which is refined domestically.

Akinlade listed the achievements of the Ministry to incorporate the organising of mine clusters in every geopolitical zone within the nation; the formalisation of the gemstone market in Ibadan, the Oyo State capital and the coaching of Nigerians in direction of having expert manpower within the sector.

“It’s now an offence to take our gems or strong minerals in another country with out the required documentation.

We don’t need our gems to develop into like oil that’s refined from outdoors the nation,” Akinlade stated.

Additionally, the Everlasting Secretary within the Lagos State Ministry of Power and Mineral Sources stated the organising of the gemstone market in Ibadan was a step in the correct route particularly now that gold is among the strategic gems in Nigeria.

“The importance of this info is that it’ll drive the manufacturing of strategic strong minerals in Nigeria,” Shasore stated.

Coordinator of WiMin in Lagos, Foluke Ademokun acknowledged that the last word goal of the Lagos Gold & and Gems Convention and Exhibition 2022, was to draw would-be buyers, banks and different monetary establishments to the mining trade, particularly the gold and valuable stones.

She stated, “The selection of Lagos is primarily as a result of Lagos is the financial hub of Nigeria in addition to its proximity to the gold and gems mines in Osun, Oyo and Ekiti states and the traditional markets in gold jewelry within the coronary heart of Lagos.”