By Peace Udugba
Mineral Economics Expert and Financial Consultant, Dr. Wale Bolorunduro, has urged mineral-producing states across Nigeria to establish state-specific mining environmental governance and financing frameworks to effectively address the environmental impacts associated with modern mining and mineral processing.
Bolorunduro stated that while mining remains a major driver of employment generation and economic growth, it also creates significant environmental challenges, including land degradation, biodiversity loss, pressure on water resources, pollution, and increased infrastructure costs.
He explained that the environmental impact of mining differs depending on the type of mineral being extracted, stressing that states should avoid adopting uniform environmental financing models.
“Every mineral has its own environmental footprint. Limestone quarrying presents environmental challenges that differ significantly from lithium ore mining or processing, iron ore mining or coal extraction.
Consequently, each state must develop an environmental financing framework that reflects its own mineral resources, ecological systems and community needs,” he said.
Bolorunduro further noted that internationally recognised environmental financing frameworks and tested governance models provide valuable guidance for designing transparent, accountable and legally sustainable environmental financing systems.
He advocated the establishment of Mining Environmental Mechanisms and dedicated environmental levies to fund environmental restoration, biodiversity conservation, pollution control and community development.
According to him, such financing mechanisms would complement the provisions of the Nigerian Minerals and Mining Act, 2007, while strengthening environmental governance and promoting sustainable mining practices at the state level.
