The Federal Government has sought to acquire all lands with deposits of gold from State governments and private individuals.
The bill, titled ‘Gold Reform Bill’, sponsored by Natasha Akpoti-Uduaghan, has since passed a Second Reading although its public hearing has been suspended indefinitely.
One of the clauses of the bill seeks to grant the government exclusive rights over all gold resources in the country, enhancing regulatory oversight and promoting responsible exploitation of Nigeria’s gold reserves.
The bill stated that the entire property in and control of gold, under or upon any land in Nigeria, shall be vested in the government of the federation for and on behalf of the people of Nigeria.
The bill states, “The entire property in and control of gold, under or upon any land in Nigeria, shall be vested in the Government of the Federation for and on behalf of the people of Nigeria.
“All lands in which gold has been found in commercial quantities shall, from the commencement of this bill be acquired by the government of the federation in accordance with the provisions of the Land Use Act.
“The authority shall administer and enforce the provisions of the Mining Act for the purposes of this bill to the exclusion of any other authority.”
