Dr. Kayode Fayemi, the Minister of Solid Minerals Development, has disclosed that Nigeria and the United States (US) are to commence technical cooperation in geological data to improve the Nigerian solid minerals sector. He stated this when the US Ambassador to Nigeria, His Excellency James Enstwistle paid him a courtesy call.
The minister said some of the issues confronting the Nigerian mining sector are the quality of the data available to determine the size of what the country has and how the country can use bankable data for potential investors. He said the Federal Government has approached the US to assist the country in this area to determine the quality and quantity of the various minerals available considering the wealth of experience the US Geological Survey has in that field, adding that the experience the institutions have in America will help Nigeria to improve on what it has in terms of its huge mineral deposits.
The Minister also stated that Nigeria is focusing on how to improve on the industrial minerals that it has beyond exporting raw mineral products.
Another area of cooperation will be in the improvement of monitoring. He said there will be need for the regulatory authorities to have effective monitoring mechanisms to effectively monitor what is available and how they are been exported, noting that Nigeria is losing so much in the sector to illegal exportation as revealed by the NEITI report.
The Minister added that Nigeria is partnering with institutions like the World Bank and other governments with vast experience in mining to assist the country to achieve Mr. President’s aspiration in the diversification of the economy through the solid minerals sector.
Earlier, the US Ambassador to Nigeria, His Excellency, James Enstwistle pledged the US’ readiness to provide technical cooperation to Nigeria in the solid minerals development. He said the US Geological Survey will soon commence cooperation with the Nigerian Geological Agency to determine the level of technical assistance needed by the country in the sector. [FMSMD]
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