The Federal Government has earmarked N2.5 billion for the procurement of a satellite monitoring device for strategic mining sites in the country.
The approval was given on Monday at the Federal Executive Council meeting, chaired by President Bola Tinubu.
Minister of Solid Minerals Development, Dele Alake, said the approval was informed by the need to safeguard investment in the sector, stressing that the satellites would provide real-time information on activities at the mining sites.
He explained that gold mining activities are fraught with cultural challenges, especially in northern Nigeria, including differences in land allocations at the state level.
According to Alake, it is not in doubt that land in each state is controlled by the state governments, but where minerals are found in a particular state, the Federal Government takes prominence in controlling the resources.
He noted that illegal mining has cost the nation trillions of naira but revealed that the council has approved a new initiative to enhance regulation and curb revenue losses in the sector.
Alake said the Federal Government has never been averse to collaborating with state governments in mineral-rich areas to prevent unregulated mining operations and ensure proper oversight.