President Buhari Launches Gold Mining Development Initiative In Abuja

President Buhari Launches Gold Mining Development Initiative In Abuja



Muhammadu Buhari has launched the Presidential Artisanal Gold Mining Development Initiative (PAGMDI), in Abuja.

The President during the launch of the initiative on Thursday said that improved gold mining operations in the country will generate no fewer than 250,000 jobs and over $500m annually in royalties and taxes to the Federal Government.


However, Central Bank of Nigeria paid  a total sum of N268.6 million to purchase a 12.5kg gold bar, the Nigeria’s first artisanally-mined gold processed and refined according to LBMA standards. The gold now belongs to our external reserves. 

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