Business

FG releases N30bn to develop solid mineral sector

Published

7 years ago

May 10, 2017

A top official of the Solid Minerals Development Fund on Wednesday revealed that the Federal Government has released N30billion for the development of the sector.

Acting secretary of the fund, Hajiya Hadiza Goni, disclosed this in Sokoto during an interview with newsmen on the side-lines of a workshop on Mining Sector for the North West Geo-political Zone.

According to Goni, the money would help speed up development of solid minerals sector and boost nationalgrowth.

She further said that the Federal Government under President Muhammadu Buhari has given priority attention to the diversification of the economy.

She said, “The discovery of oil in commercial quantity in Nigeria made the mining sector the mainstay of the economy and oil the major revenue earner of the country.

“Unfortunately, in the approximately 45-year decline of the country’s mining sector, we have been unable to articulate a framework upon which the sector would viably stand and operate. We have, as such, missed out various opportunities to capitalise on the up-surging of the commodity process.”

Goni also notified that the Federal Ministry of Mines and Steel had identified 45 solid mineral types across the 36 states of the federation.

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