Nigeria partners World Bank on Solid Minerals Development

The Nigerian Government has on Friday November 20, 2013 expressed willingness to continue to partner with the World Bank on the development of the solid minerals sector.

The Minister of Solid Minerals, Dr. Kayode Fayemi disclosed this when he received in his office a team from the World Bank led by its Country Director, Rachid Benmessaoud. The Minister and Minister of State, Abubakar Bawa Bwari acknowledged the support which the financial institution has so far given to infrastructural development in the sector through the Ministry.

Kayode Fayemi further said that the volume of information they have received in the course of the over one week departmental briefings indicates the need to prioritize and do more to realize Mr. President’s mandate and move the sector forward.

Earlier in his remarks, the Country Director of the World Bank, Rachid Benmessaoud espoused on the team’s delight to meet the Minister given his visionary leadership during his previous position as the Governor of Ekiti State. He further stated that they were mindful of President Buhari’s emphasis on agriculture and solid minerals, adding that one good thing about the sector is that it is a regional development project on its own which creates opportunities for jobs, infrastructure and other positive linkages.

Rachid Benmessaoud acknowledged the challenge of low, global commodity prices and its impacts on the attraction of investment and noted that it calls for creative approach, in order to move ahead.

The Country Director also advised on the need for a differentiated strategy for big, medium and small-scale mining entities, demanding for commencement of the communication activities that would provide the modalities for the World Bank’s assistance, in response to the Ministry’s requirements.

ABUJA (Federal Ministry of Solid Minerals Report)