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MAN Advocates Increased Investment For Effective Utilisation Of Mining Sector

MAN Advocates Increased Investment For Effective Utilisation Of Mining Sector

17 October 2019 National News News


The Federal Government has been urged to increase investment in the mining sector to ensure effective utilisation of the nation’s mining deposits.

The President, Miners` Association of Nigeria ,MAN, Alhaji Kabir Kankara made the call at the ongoing Nigeria Mining Week holding in Abuja.

Alhaji Kankara said that adequate investment in the sector was critical to harnessing its potential.

He however, said that funding was the major challenge being faced by the mining sector.

According to him, achieving the governments dream of diversifying the countrys economy through mining may remain a mirage if the sector is not properly funded.

“Funding perhaps is the mother of all challenges as it is required as a major component to address other challenges facing the mining sector.”

“It should be sourced from different windows such as National Resource Fund, annual budgetary provision, offshore windows like World Bank, and African Development Bank,” he said.

He listed other challenges in the sector to include, insecurity, infrastructure, regulation and inadequate geological and geosciences data.

Kankara added that while the association appreciates the initiative of the ministry to formalise the operations of artisanal miners in parts of the country, the carrot approach should be used to attract them into the formalisation agenda.

MAN Advocates Increased Investment For Effective Utilisation Of Mining Sector

He assured that the association would galvanise and mobilise Nigerian miners to support the minister in realising the ministry`s mandate.

The miner noted that funding of the sector should be sustainable, saying that definite strategy should be put in place.

According to him, the government should define how and where to source funds and how such funds should be expended.

While appreciating government’s support to the sector so far, Kankara advised that the Solid Mineral Development Fund should be properly channelled to ensure effective development of the sector.

The three-day Nigeria Mining Week is organised by the Miners Association of Nigeria and hosted by the ministry.

No fewer than one thousand two hundred and fifty stakeholders from more than nine hundred organisations across twenty two countries are participating in the 2019 edition which was first held in 2016.

The event is an annual meeting place and deals making platform for mining stakeholders in Nigeria.

The Nigeria Mining Week which began on Monday, and ended Wednesday, focused on finance and investment opportunities.

It also featured exhibitions and technical sessions among others.

One of its aims is to provide a tangible means to mobilise opportunities in the mining sector by providing solutions needed to elevate the country`s already growing mining industry.

More than thirty sponsors and exhibitors participated in the event.

Stakeholders stressed the need for manpower development as well credit facilities to assist miners to grow.

GEORGINA HUMPHREY/ABUJA


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