President Muhammadu Buhari says the Federal Government’s key policy objective of rejuvenating the mining sector is being realised as witnessed by the diversification of the economy and broadening of the country’s revenue base.
He made the remark on Thursday when he received the national executive members of the Nigerian Mining and Geosciences Society (NMGS) at the State House in Abuja.
The President was delighted at the ongoing formalisation of illegal mining as a way of curbing its implications on national security, revenue generation, the environment, as well as health and safety of the citizens.
He noted that his administration has been vindicated in its assumption that the nation’s endowment in mineral resources, mining and solid minerals sector has the potential to create employment, increase revenue and reduce poverty.
President Buhari attributed the successes recorded so far to the Federal Government’s policy of increasing budgetary allocation to the Ministry of Mines and Steel Development; formalisation of illegal mining; approval of funds from the Natural Resources Development Fund to support small miners; as well as enhancing capacity and human capital development.
He also highlighted the significant roles of the strengthening of the regulatory framework, enhanced transparency in the licensing process, and the ease of doing business in the achievements recorded in the mining sector.
In a statement by his Senior Special Assistant on Media and Publicity, Mr Garba Shehu, the President pledged the government’s continued support to the sector.
Responding, the Minister of State for Mines and Steel Development, Abubakar Bwari, said the favourable government policy in the sector had led to the activation of dormant mining licences, increase in earnings by the government and the prevalence of “mining prosperity” in the country.
The NMGS President, Professor Silas Dada, thanked the Federal Government for the “revitalisation and rejuvenation” of the mining sector in the country.
He also joined other members of the delegation to confer a laurel on President Buhari who now becomes the Grand Patron of the NMGS.
