The National Economic Council (NEC) has raised alarm over rampant theft of Nigeria’s gold and other solid minerals, warning the country is losing vast amounts of its natural resource wealth.
Imo State Governor, Hope Uzodimma, who chairs the committee, disclosed this while briefing State House correspondents after the 153rd NEC meeting chaired by Vice President Kashim Shettima at the Presidential Villa, Abuja, on Thursday.
Uzodimma said the expanded mandate is part of the government’s efforts to curb resource theft and increase revenue from Nigeria’s solid minerals sector.
“The National Economic Council Ad-hoc Committee on Crude Oil Theft Prevention and Control, which I chair, presented an interim report today to the Council.
Speaking at a recent meeting, NEC stated: “Nigeria’s gold and other solid minerals are being stolen, and the country cannot continue on this path.” The statement attributed the leak to poor regulation and high levels of smuggling.
The council added that despite Nigeria’s rich deposits—which span across states such as Osun, Zamfara, and Niger — the nation has failed to reap the economic benefits because mining remains largely informal and unlicensed. The council underscored that “illegal mining operations and export of raw minerals continue to underpin revenue losses and security threats.”
The warning comes as the Federal Government recently disclosed that Nigeria loses around US$9 billion annually due to illicit mining and smuggling of solid minerals.
With oil revenues under pressure, Nigeria sees its solid-minerals sector as a key avenue to diversify income and create jobs—yet the uncontrolled outflow of resources undermines both economic recovery and national security.
