FG Inaugurates Donor Agencies In Mining Sector

FG Inaugurates Donor Agencies In Mining Sector

The Minister of Solid Minerals, Dr. Kayode Fayemi has stated that foreign investors in the nation’s mining sector must be prepared to help Nigeria grow economically through their investments.

Fayemi who stated this at an inaugural meeting of the Development Partner Coordination Group in Abuja said that any foreign investment in the sector must be prepared to help local operations.

He ,however, observed that the sector is growing despite the recession adding that the President, Muhammadu Buhari had given him the mandate to return the it to the major revenue earner for the country.

The minister  also said that UNDP would assist the ministry to implement the African Mining Vision (AMV) and the framework for revenue collection, to address revenue leakages.

He also stated that the World Bank would focus on strengthening the Federal Government in its role to establish a strong foundation for mining sector development as sector regulator and facilitator while the African Development Bank (AFDB) would support the quest to develop the ministry’s energy minerals.

According to him, the ministry is working in collaboration with other relevant ministries such as Works, Power, Housing and Transport to provide the infrastructure which is key to the development of the mining sector.

He said that Ministry of Agriculture and Rural Development and Water Resources would align the sector’s work on agro- minerals, particularly phosphate, land use and water rights permit to minimise delays as well as protect the environment.

The Ministry of Finance and CBN would support the establishment of investment support facilities for the mining industry as provided in the Mining Act as well as enable the industry to scale up its activities.

Speaking ,  Jean Bakole, UNIDO Representative to ECOWA and Regional Director, Nigeria Regional Office, said the role of donor agency to the government or ministry included policy dialogue and advisory role.

According to Bakole, UNIDO is partnering with Nigeria in the process of formalising a new country programme.

He added that mining had been identified as one of the key areas it would partner with for the next four years.

"The four-year programme of UNIDO is to build capacity, promote technology transfer, the best techniques and environmental practices.

"Others include formalisation of ASM, promotion of sustainable artisanal gold value chain and implementation of article seven of the Minamata Convention," he said.

The Minamata Convention on Mercury is an international treaty designed to protect human health and the environment from anthropogenic emissions and releases of mercury and mercury compounds.

He reaffirmed UNIDO’s commitment to work closely with the ministry, to implement its mandate and other stakeholders at the state and federal levels as well as with all partners engaged in the sector.

All the donor agencies have promised to assist the ministry in repositioning the sector as a mining destination in the international mining community.

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