FG Set To Revamp Mining Industry
The Federal Government has proposed 20 billion naira for the exploration of mineral resources across the country.
The Minister of Mines and Steel Development, Kayode Fayemi, says the fund will help harness the potentials in the sector.
He made this known while speaking at a meeting on solid minerals development in Abuja which was attended by governors of Kaduna, Ebonyi and Cross River states.
The meeting focuses on how to strengthen mining governance, improve transparency and accountability in making the solid minerals sector more attractive.
The Cross River State, Ben Ayade outlined things expected from the solid mineral sector, while the Country Director of the World Bank, assured that the bank will continue to play a leading role in funding programmes that will improve efficiency in mines and steel development.
The nations mining sector is faced with challenges of weak enforcement of mining legislation, non-regulation of artisanal miners and limited sector coordination amongst others.
The consensus here, however, is that these challenges can be surmounted if key players put their words into action.