President Muhammadu Buhari said the massive investment in, and prioritisation of the mining sector is yielding positive results.
Speaking on Tuesday in Abuja at the opening ceremony of the 2022 Nigeria Mining Week, Buhari said the government‘s economic diversification efforts have started impacting positively on the economy.
The president was represented by Vice President Yemi Osinbajo.
According to Buhari, the government has intentionally prioritised the country’s mineral resources over the years, as a frontier for economic growth.
“This led to the comprehensive Roadmap for the Growth and Development of the Nigerian Mining Sector, and we have steadily followed the steps set out in the roadmap.
“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,” he said.
He said that the huge investment in the mining sector had yielded positive results over time.
“We are proud that the indices of development in the sector are rapidly changing.
“Part of these is the increased revenue generation and of course the unprecedented investment interest that the industry has attracted in the past few years.
“Nigeria, for the first time, has a world-class 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.
“In steel industry, African Natural Resources and Mines Limited, owners of the Kagarko Integrated Steel Plant is about to produce liquid steel from its iron ore mine in Kaduna State,” he said.
The president said that several other investors were at different stages of development in various parts of the country.
He added that the sector had the capacity to boost the country’s export earnings and job creation.
“Besides, it will stimulate industrial growth as a local source of raw materials and improve the quality of lives in rural communities,” he said. CONTINUE READING………………………………………
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