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The paradox called the Dutch
Disease which is associated with mineral wealth in the
African continent may soon be a thing of the past.
This follows
the federal government's suggestion to the continent's
ministers of mines to turn to good governance as "a panacea
for maximising the social and economic benefits of
mining". Speaking in Abuja at the 3rd Executive Committee
Meeting of the African Mining Partnership (AMP), the
Minister of Mines and Steel Development (MMSD) Chief
Sarafdeen Isola lamented the substantial paradoxical role
the exploitation of minerals has played in devastating the
continent. "Exploitation of minerals has paradoxically
played a substantial role in violent conflicts,
environmental and health abuse. Several parts of Africa are
currently embroiled in civil wars which are generally
directly linked or financed by illicitly derived minerals
and oil.
It is
paradoxical that the endowment of natural resources on our
continent has become a source of deprivation, strife and
poverty. The effect becomes more pronounced when
governments are dependant mainly on mineral resources",
Isola rightly observed. He, therefore, suggested a good
governance of the sector as a panacea to maximising the
continent's mining benefits.
"In this mirage
of negative outcomes of developing minerals, good governance
of the sector is a panacea for maximising the social and
economic benefits of mining. In cooperation with regional
bodies and other international initiatives, Nigeria intends
to make mining substantial for the benefit of all
stakeholders", he disclosed.
Isola, who
later pledged the federal government's commitment to the
realisation of the AMP, paid tribute to the founding fathers
of the partnership "for their foresight in synergizing their
respective efforts in developing Africa's rich mineral
resources in a sustainable manner for the benefit of our
people".
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