Discover and read the best of Twitter Threads about #pagmi
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[1/31] @psychedelic_nft I’m bullish on PA and the DE announcement. In fact, it might have been the best case scenario I could have wanted. That probably sounds provocative, given the range of reactions we’ve seen on Twitter and Discord. Let me explain…
A mega-🧵…
A mega-🧵…
[2/31] First off, some table stakes: I’m a long-term, buy&hold investor. Stocks, real estate, crypto, NFTs. If you’re a flipper / day trader - that’s cool, it’s just not for me (day job and all). Y’all probably have a different lens here, so this take probably isn’t for you.
[3/31] What I do love is open discourse. Opinions welcomed, far and wide. We don’t want an echo chamber - that can lead you into making biased decisions. But that said, respect and empathy are key. Be kind, accept others might feel otherwise, and keep the heat on low.
One hour flew past. A couple of my points:
Artisanal mining (non-mechanized mining) not the same as illegal mining. 2 different things. Artisanal mining recognized by law, as long as it’s legally licensed. Illegal mining is mining that happens without a license. Small scale or large scale.
The misconceptions about #PAGMI, and about solid minerals mining and fiscals in Nigeria need to be addressed. Some of it is driven by ignorance, which is fine, nobody knows everything. As for the elements that are driven by bigotry and mischief - unacceptable!
A thread:
A thread:
The basic principles applying to oil and gas in Nigeria similarly apply to solid minerals:
a. Both belong to the Exclusive List
b. All revenues accruing go into the Federation Account, which belongs to the three tiers of Government.
c. 13% Derivation Principle
a. Both belong to the Exclusive List
b. All revenues accruing go into the Federation Account, which belongs to the three tiers of Government.
c. 13% Derivation Principle
Mining revenues, including from gold, also go into Federation Account. And solid minerals-producing States also get 13% derivation. Unlike oil and gas that has 9 producing States, solid minerals are far more widely distributed: 36 States and the FCT.
The fact Nigeria did not say #PAGMI is resource control.
Does not mean it's not resource control.
The artisanal miners in Zamfara are locals not outsiders.
PAGMI legalises their operations and helps them scale operations.
It's a full scale resource control.
Does not mean it's not resource control.
The artisanal miners in Zamfara are locals not outsiders.
PAGMI legalises their operations and helps them scale operations.
It's a full scale resource control.
My region has been fighting for resource control for 30 years
I can smell that shit from afar.
People died in this struggle, so you can't gaslight me with lyrical gymnastics.
The people who will benefit from it are the locals who were the Artisanal Miners.
I can smell that shit from afar.
People died in this struggle, so you can't gaslight me with lyrical gymnastics.
The people who will benefit from it are the locals who were the Artisanal Miners.
I fully support PAGMI.
It's a welcome Initiative to boost jobs and skills of the pilot states.
PAGMI would also bring a decentralized investment to small holder miners.
It's a win-win for the states..
And one giant leap for total Resource Control.
It's a welcome Initiative to boost jobs and skills of the pilot states.
PAGMI would also bring a decentralized investment to small holder miners.
It's a win-win for the states..
And one giant leap for total Resource Control.
I’m sorry but this is outright idiotic. Sorry again. Just couldn’t find any other word. PAGMI is Resource Control for Northern States??? Balderdash! Tuck your bigotry in.
Here’s the PAGMI factsheet: statehouse.gov.ng/news/everythin…
Instead of listening to bigoted nonsense from the likes of @Saatah, here are the Facts.
The Programme is meant for the entire Gold Mining Belt in Nigeria; Osun State in the SW is a key player, and one of two pilot States.
Instead of listening to bigoted nonsense from the likes of @Saatah, here are the Facts.
The Programme is meant for the entire Gold Mining Belt in Nigeria; Osun State in the SW is a key player, and one of two pilot States.
According to @fmmsdngr, Nigeria has licensed two gold refineries so far, one is in Ogun State, the other in Abuja.
Is Ogun State in the North? So why are you talking in the nonsense, @Saatah ? google.com/amp/s/mobile.r…
Is Ogun State in the North? So why are you talking in the nonsense, @Saatah ? google.com/amp/s/mobile.r…
There’s some BIG news ahead, around artisanal/small-scale gold mining in Nigeria. Exciting stuff. What’s the connection between an artisanal gold miner in Kebbi, or Osun, or Zamfara, and the Reserves of the Central Bank of Nigeria? The answer is interesting! Details soon!
