President Muhammadu Buhari said the prioritising of the development of the country’s mineral resources by his administration as frontiers for economic growth was intentional. According to the President, this has led to the comprehensive Roadmap for the Growth and Development of the Nigerian Mining Sector. President Buhari announced this at the opening ceremony of the ongoing 6th edition of the Nigerian Mining Week in Abuja.
Represented by the Vice president, Prof. Yemi Osinbajo, it was noted that his administration has duely followed the steps set outlined in the roadmap, stating: “So far, we can say without fear of contradiction that this administration has committed more resources to the development of the mining sector than any other government in the history of this country.”
According to him, “the development of the steel sector is still a huge priority of our administration and our vision for an industrialised nation cannot be achieved without a vibrant steel sector. We understand the huge demand for steel and iron in our domestic markets and across the sub-region, this is why we prioritized the resolution of all the issues constraining the full operation of the Ajaokuta Steel company.
“To this end, a transaction adviser has been appointed to concession the Ajaokuta Steel Company and the Nigerian Iron Ore Mining Company Itakpe. The selection process is ongoing. Our commitment is to break the jinx and actualise the dream of a vibrant steel sector.”
He further said that his administration is proud to announce that the indices of development in the sector are rapidly changing and, “part of this is the increased revenue generation and of course the unprecedented investment interest that the industry has attracted in the past few years.”
The President said that it is worth to note that Nigeria, for the first time, now has a state of the art gold mine in Segilola, Osun state, operated by Thor Exploration. Also, Eta Zuma Mining and Industries limited, Mosra Enerji are mining and supplying the coal needs of Dangote and Bua Cement factories.
