President
Muhammadu Buhari has said that the Federal Government’s key policy objective of
rejuvenating the mining sector was being realised as witnessed by the
diversification of the economy and broadening of the country’s revenue base.
According to
a statement made available to newsmen yesterday by his Spokesman, Mallam Garba
Shehu, the President said this while receiving the National Executive members
of the Nigerian Mining and Geosciences Society (NMGS) at the State House.
He also
expressed delight with the ongoing formalisation of illegal mining as a way of
curbing its implications on national security, revenue generation, the
environment, health and safety of the citizens.
Buhari said
his administration has been vindicated in its assumption that the nation’s
endowment in mineral resources, the mining and solid minerals sector have the
potential to create employment, increase revenue and reduce poverty.
He 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; enhancing capacity and human capital
development.
The President
equally noted that the strengthening of the regulatory framework, enhanced
transparency in the licensing process, and the ease of doing business played
significant roles in the achievements recorded in the mining sector.
He pledged
continued government support to the sector.
While
introducing the visiting members of the NMGS, the Minister of State, 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.
According to
him, “the mining sector has never had it so good.”
The President
of the NMGS, Prof. Silas Dada expressed gratitude to President Buhari for being
the first Nigerian leader to be conferred with the Society’s Grand Patron ship
in person.
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