February 26, 2021

By Adekunle Adeniyi/TnTv Network

President of the Senate, Dr Ahmad Lawan has commended the National Institute for Legislative and Democratic Studies, NILDS and the NNRC for the Toolkit for the Nigerian Legislature to Support Engagement with the Extractive Industry. 

Declaring the public presentation open on Wednesday in Abuja, Lawan noted that the legislative guide on the extractive sector is coming at a very important time when oil revenues are dwindling, a fact made worse by the Coronavirus pandemic

He further stated that it will accentuate government’s drive to diversify the economy from oil and the extractive sector presents immense opportunity in this regard. Nigeria has huge reserves of mineral resources.

Ahmad Lawan (President of the Senate)

“I understand that this important resource has been developed in collaboration between the Institute and the Nigerian Natural Resource Charter (NNRC). I wish to wholeheartedly congratulate both parties for this worthwhile undertaking.

Indeed, this legislative guide on the extractive sector is coming at a very important time when oil revenues are dwindling, a fact made worse by the coronavirus pandemic. 

This further accentuates government’s drive to diversify the economy from oil and the extractive sector presents immense opportunity in this regard. Nigeria has huge reserves of mineral resources.

 Over 450 mineral occurrences have so far been documented. More than thirty (30) of them occur in commercial quantities in different parts of the country. Despite this abundance, the solid minerals sub-sector of the extractive industries is largely underdeveloped.” The Senate president stated.

Prof. Abubakar Sulaiman (DG, NILDS)

On his part, the Director General, National Institute for Legislative and Democratic Studies, NILDS, Professor Abubakar Sulaiman NILDS is a think-tank established by the National Assembly to improve the capacity of legislators to sustain and consolidate democratic governance through deliberation and policy formulation. Which calls for the collaboration between the National Institute for Legislative and Democratic Studies (NILDS) to develop a Toolkit for Members of the National Assembly on how to ensure effective governance of the extractive sector in Nigeria through their lawmaking, oversight and representative functions. 

“A citizenry with access to information about its mineral wealth will be able to make informed decisions about the judicious use of those resources. Yet, the level of transparency is generally low when it comes to extractive revenues, and the quality of decision making is thus hampered. Through their lawmaking functions, legislators can support the passage of laws or other instruments that create an enabling environment for sustainable and accountable management of oil and minerals. 

This underpins the collaboration between the National Institute for Legislative and Democratic Studies (NILDS) to develop a Toolkit for Members of the National Assembly on how to ensure effective governance of the extractive sector in Nigeria through their lawmaking, oversight and representative functions. Suffice to say that NILDS is a think-tank established by the National Assembly to improve the capacity of legislators to sustain and consolidate democratic governance through deliberation and policy formulation.

It is now widely recognised that responsible management, oversight, and stewardship of natural resources can reduce poverty and contribute to sustainable development. 

However, translating those resources into actual benefits in practice has been more elusive, and today two-thirds of the world’s poorest people live in countries that in fact are rich in natural resources. Africa is home to some of the world’s largest deposits of minerals and oil. 

As non-renewable resources decline in many parts of the world and global demand grows, african countries, including Nigeria, can potentially earn increasingly high profits from this sector. Oil and gas, and increasingly, solid minerals which make up the Extractive Industries in Nigeria, occupy preeminent positions in the Nigerian economy – primary economy dependent mostly on natural resources for nearly all of its government revenue.” the NILDS Boss said

The NILDS/NNRC Toolkit is a useful tool for the leadership of NASS, relevant committees and other stakeholders including Ministries, Departments and Agencies of Government as well as CSOs, media and the general public. Thank you for your attention. I wish you all a fruitful deliberation and look forward to receiving the final validated document for onward transmission to the Leadership of the National Assembly.

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