Mining and Steel Sector Set to Surpass Oil and Gas in Revenue Generation—-Adegbite

As part of measures to cue into the President Mohammadu Buhari-led administration resolve to generate more revenue in order to lift up to one hundred million people out of poverty in a couple of years, the Ministry of Mines and Steel Development in collaboration with its stakeholders have resolved to work assiduously in order to move ahead of oil and Gas in terms of revenue generation.
This assertion was made by the Minister of Mines and Steel Development Arc Olamilekan Adegbite while briefing the Press on the forth coming Mining Week slated to take place from 14th to 16th October ,2019 in Abuja.

Adegbite while applauding the executives of the Nigeria Miners Association(MAN) for their ingenuity in initiating the annual mining week conference which offers stakeholders the opportunity to come together and brainstorm on the best ways to reposition the mining sector so as to meet global standard, assured the association that in planning the subsequent mining week, the ministry will be more active in other to give the conference a face lift.

The Minister said that though investment into the mining sector requires some level of patience, but if the potentials in the sector are properly harnessed, they will not only contribute immensely to the revenue of the country but positioned Nigeria in the global mining map.
He assured investors and intending investors in the sector that the ministry will give them enabling environment to operate. According to him the greater part of Solid Mineral Development Fund (SMDF) has not being accessed by operators due to noncompliance with the laid down requirements for the assessment. He said that artisanal miners have been advised to group themselves into cooperative organizations for easy accessibility to the fund.

The Minister of State Mines and Steel Development, Dr Uchechukwu Sampson Ogah in his welcome remarks assures the Miners that since the two ministers assumed office, they have been busy collating developmental ideas that will assist them to move the sector much greater than the way they met it. He informed them that after the mining week, the ministry will come out with a blueprint on the how to move the sector to a higher level in line with the president’s mandate.

Earlier the President of the Miners Association of Nigeria, Alhaji Kabiru Kankara thanked the ministers for immeasurable support and encouragement giving to the association to organize this year’s Mining Week. He said that what informed the origin of the Mining Week which first edition started in 2016 was the need for the stakeholders to come together, woo investors, showcase their product and brainstorm, all with the intention to position Nigeria mining sector to an enviable position in the world mining map.

He said that so far investors from 22 countries have indicated interest to participate in the exhibition/ conference. According to him this year’s mining week will center on security in the sectors, future mining, Nigeria mining moving with global trend among others.
Kankara said that the achievements of the 2018 edition cannot be overemphasized. According to him, to give instances in recent times, there is virtually no mining conference in the world today that Nigeria will not be invited to participate courtesy of past mining weeks he said. Also the recently concluded mining conference in Australia made reference to the previous mining weeks in Nigeria.

Kabiru Kankara informed the ministers of his association’s continuous partnership with the ministry to achieve its mandate especially in the area of economic diversification and poverty reduction.