REPS PROBE N49.968TRN ANNUAL LOSS IN MINING SECTOR

-          The House of Representative yesterday, probed the loss of N 50 trillion annually in the mining sector.

-          The House mandated its committee on solid minerals development to determine the extent of compliance to the Act of 2007.

-          In a motion by Lovett Edern Idisi in the House resolution said the Nigeria Extractive Industries Transparency Initiative (NEITI) stated that the total revenue from the sector in 2012 is N31.449b.

-          Meanwhile the country should be making as much as N50 trillion annually.

                        CULLED FROM DAILYSUN