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Solid Minerals Minister Solicits Synergy Among States

The Minister of Solid Minerals, Dr. Kayode Fayemi, has urged state governments to work together to extract minerals to enhance development of the sector. Dr. … Continue reading Solid Minerals Minister Solicits Synergy Among States


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Dr Kayode Fayemi (file)

Solid Minerals, Kayode FayemiThe Minister of Solid Minerals, Dr. Kayode Fayemi, has urged state governments to work together to extract minerals to enhance development of the sector.

Dr. Fayemi made the appeal at the 10th annual business law conference of the Nigeria Bar Association on Friday in Abuja, Nigeria’s capital.

Giving a speech on ‘Law Reform and Economic Development’, he said such synergy among states would save time, resources, infrastructure and cost of tapping common resources.

The Minister noted that development in the extractive sector would only be successful if the states were turned into economic resource corridors with the realisation that minerals are not defined by boundaries.

He stressed that beyond the major challenge of getting investors to see Nigeria as a mining destination was the need for them to work together.

Dr. Fayemi also believes the approaches will shorten and fast track work, as well as bring tangible results in the short term, in line with the present economic diversification plans of the Federal Government.

The Minister of State for Agriculture, Mr Heineken Lokpobiri, on his part promised that a fund of 750 billion Naira with six per cent interest rate would be unveiled soon.

However, he said that the government might be discouraged from giving cash to farmers.