Senate Considers Invoice to Market Gold, Increase Income 

The Senate on Wednesday handed for second studying, a invoice for an Act to make provision for Nigeria Gold Reserve Trade.

The invoice sponsored by Senator Natasha Akpoti-Uduaghan (PDP, Kogi Central), seeks a strong framework for harnessing, exploitation and advertising and marketing of gold within the nation.

Senator Natasha in her lead debate on the invoice stated, “The proposed laws presents a big alternative to drive financial development and diversification by making a conducive atmosphere for funding within the gold sector, that may entice each home and overseas buyers, stimulate job creation, and enhance income streams for the federal government.

“It incorporates stringent rules to minimise the ecological footprint of gold mining and processing actions.

“By adhering to worldwide greatest practices in gold mining and buying and selling, the Nigerian Gold Reserve Invoice positions Nigeria as a dependable and accountable participant within the world gold market which is able to improve our competitiveness on the worldwide stage and strengthen investor confidence in our gold business.

“Particularly, the invoice seeks to ascertain the Nigeria Gold Authority (NGA) that might be charged amongst different issues, with the administration of Nigerian Mining Act close to our gold assets.”

Senator Solomon Olamilekan Adeola (APC, Ogun West) stated the invoice when handed into legislation, would shore up the worth of the naira which in line with him, might even recognize tremendously with out overseas funding.

Nearly all of Senators who contributed to the controversy on the invoice supported it as required laws that might unlock the complete worth of Nigeria’s Gold Reserve for the advantage of Nigerians.