Like the current governor of Rivers State, Nyesom Wike, i also read and saw in a newspaper about the CBN demanding N5Billion worth of gold from Zamfara State Government. Same thing occurred to me too.
Why will the Central Bank be demanding for such a specific amount of gold they discovered in their homeland? Are they indirectly telling the rest of the states that different resources sharing formula now applies to different parts of the country?
Here is a statement reportedly stated by the governor according to the report:
“This strategic decision is part of the effort to prop up the economy of the state and guarantee the economic and social wellbeing of our people now and in the future. It is also the first of its kind by any state in the federation.
“For a start, we have purchased 31 kilogrammes of gold, wholly mined and refined by our artisanal miners. We will subsequently continue to buy gold from our local miners so as to gradually improve the reserve. The precious metal would be deposited in a bank.
“Even though our state like other states of the federation is grappling with competing demands from the public and the resources at our disposal are meagre, we feel it is of utmost significance to invest in the future of our people.”
If i am reading the statement very correctly, Zamfara people have been mining gold, the second biggest commodity in the market after oil, but they have been keeping it for themselves. According to their governor, “This strategic decision is part of the effort to prop up the economy of the state and guarantee the economic and social wellbeing of our people now and in the future”. Remember that the governor also said that people were exchanging arms for gold in his state previously.
Truth is, little to nothing is heard of the other mineral resources deposited accross the country. The only concentration is oil, making it the central focus of the nation’s economy.
The CBN deal with Zamfara State Government is the reason why restructuring advocates are calling for Restructuring of the country’s key fiscal policies to allow for reasonable resource control and the needed development that seems to be elusive.
This is why citizens have to support the call from governor Wike for the gold in Zamfara State to be made to benefit everyone, not just the state. The oil in the south has been benefitting the country for ages now but the oil areas are only allowed 13% derivatives from their own property. There cannot be a special treatment of any kind for anyone or any specific state. Except the issue of resource control is again revisited and dialogued over again moving forward.
The Federal Government must also make sure that the same thing that is being applied in these oil producing areas, must also be applied to Zamfara State. Yes, let Zamfara State take the same 13% derivatives. No special privileges!