Dr. Kayode Fayemi, the Minister of Solid Minerals Development, has disclosed that given all the opportunities and challenges in the Nigerian solid minerals sector as well as the global market outlook for mining, the Ministry has developed a strategy to drive growth for the country.
Fayemi stated this during his inaugural Press Briefing held in the Ministry on Monday, December 21. He outlined the key elements of the strategy along three dimensions which include: the aspiration of the Ministry, where to focus and how to win in the solid minerals sector. Adding, the strategy aspiration is to build a sustainable, globally competitive mining sector and related supporting sectors that will prudently use the finite resources to improve on the quality of life of Nigerians.
“The second strategy on where to focus will be in the area of supporting and growing Nigeria’s position in the mining assets with commercially proven reserves. Nigeria would focus on going to market as a quality and cost leader, rather than a scale-based generation, pending further understanding of our reserves position,” he remarked.
“The role of Government would be to invest in activities and levers that reduce the cost of doing business and improve Nigeria’s perception as a high quality mining destination.”
According to him, eight key drivers of success in the emerging strategy will involve: working off an integrated plan that emerges from a broad consultation process, building an investor – friendly regulatory environment, using a partnership model with investors communities artisanal miners and states to create right incentives for all parties, building available geo-sciences database work with relevant sectors, partnering with financial institutions, strengthening the Ministry’s personnel and using solid minerals as a growth catalyst for communities.
The Minister of State for Solid Minerals Development, Abubakar Bawa Bwari urged all stakeholders in the sector to cooperate and support the Federal Government’s renewed effort towards repositioning the solid minerals sector to be a key source of economic growth and diversified revenue base for the country. [FMSM]
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