Minister: FG accelerating the development of mining industry to boost economy and create jobs

Minister: FG accelerating the development of mining industry to boost economy and create jobs

The federal government claims that it is speeding up the growth of the mining industry in order to strengthen the economy and create employment in the country.

Mr Olamilekan Adegbite, Minister of Mines and Steel Development, stated this on Thursday at the beginning of the Nigerian Society of Mining Engineers’ 20th Annual General Meeting (NSME).

The meeting is being held in Gombe state with the topic “Repositioning the Nigerian Mining Sector for Accelerated National Development.”

Adegbite, who was represented by Mr Obadiah Nkom, Director-General of the Nigeria Mining Cadastre, said the mining industry had remained largely undeveloped despite the availability of a wide range of minerals in commercial quantities across the country.

According to him, this required the efforts of President Muhammadu Buhari’s government in improving the sector for the benefit of all Nigerians.

He added that the federal government was trying to reposition the industry as a means of diversifying the economy away from oil in order to achieve all-inclusive growth and development.

“Our objective is to increase the mining industry’s potential to serve as a stable source of cash for national growth.

“Given the unpredictability of oil income, this is even more convincing, since it inspired the government’s decision to designate the Mining and Agriculture Sectors as focus points of drive for non-oil revenue streams,” he added.

The minister went on to say that the industry has aided the government in a variety of ways, including job creation, community wealth, industrial growth, and energy efficiency, among other things.

According to him, the federal government has launched a number of efforts to help the mining industry expand and realise its enormous potential.

Strengthening important mining sector institutions to offer quality services to industry, as well as reforming the Solid Minerals Development Fund as a major strategic instrument to provide technical expertise and financing, were among the measures he mentioned.

Generating accurate geoscience data, implementing digital procedures in sector governance, formalising informal mining activities, developing skills for employment, and establishing mineral processing hubs in six zones are among the others.

Adegbite urged participants to submit creative engineering solutions that would aid the country’s mining industry’s development and expansion.

Tyxod Blogs News Update

Follow us on Facebook

Leave a Reply

Your email address will not be published.