The Minister of State for Ministry of Mines and Steel Development, Hon. Abubakar Bawa Bwari, has said that the various initiatives taken by the Administration of President Muhammadu Buhari in the last four years have repositioned the Nigerian Mining Sector to become investors-friendly.
The Minister stated this in Abuja on Thursday, 4th April, 2019, when he received officials of International Finance Corporation (IFC), an arm of the World Bank Group, in his office. They came to seek ways of intervening in efforts being taken to address identified challenges facing the Nigerian Mining Sector.
Hon. Bwari informed the visitors on various strategies put in place to reposition the sector such as strengthening the Mining Intervention Fund, capacity building of mining engineers, creation of modern Mining Cadastre system, among others. However, he noted that challenges of infrastructure, modern mining equipment, financing and human capacity development are areas that require collaboration of International Development/Finance Partners to address.
The Minister said that the Ministry will welcome the support of International Finance Corporation in the efforts geared towards improving the mining sector.
Dr. Olasupo Olusi, Senior Private Sector Specialist, IFC, who led the team, said that the purpose of the visit was to interact with the Minister, with a view to getting the right information on the various challenges militating against the mining sector that would guide the World Bank Group on better ways to offer assistance.
In a similar development, the Minister hosted the Managing Director of Lantan Height Nigeria Limited, on a courtesy visit to his office.
In his remarks while welcoming the guest, the Minister said that the Ministry keeps its doors open to investors, stating that government is doing everything necessary to make the sector investors-friendly.
He said the Ministry has complied with government order on Ease of Doing Business, adding that “the best time to invest in mining sector in Nigeria is now.”
Speaking earlier, the Managing Director of the Company, Nwaka Nancy, said that her company partners with one of the biggest mining companies in China – Tianneng Group.
According to her, the visit to the Ministry was to get more information on possible investment opportunities in the Nigerian mining sector.