Nigeria to focus on industrialised minerals

Asma’u Halilu, Abuja

Nigerian government says it is focusing on industrialised minerals to diversify the country’s economy.

The Minister for Solid Minerals Development, Kayode Fayemi made this known at the ongoing town hall meeting organized by the Federal Ministry of Information holding in Kaduna, Northwest Nigeria.

Formal corporation
The Minister explained that though there are over five million Nigerians involved in illegal mining across the country, such people would not be criminalised; instead, they would be encouraged and empowered by getting into the mining business formally.

“Efforts are made to formalise with the people in the sector, enable them go into corporate business, empower them with capacities and issue them licenses operate,” he said.

Fayemi stated that though mining is capital intensive in nature, plans are underway to work with the Central Bank, Commercial banks and the Bank of Industry to raise funds for people interested in mining business.

He explained that, “The Ministry is working out a cordial relationship with stakeholders in the mining sector to improve on the Nation’s economy.”

He also encouraged States especially the Northern region with abundant potential minerals to partner with the federal government in diversifying the nation’s economy.