Federal Govt Invests $50m To Explore Gold, Others

The minister of Mines and Steel Development, Olamilekan Adegbite, has revealed that the federal government has spent about 50 million dollars to explore gold, lithium and several other metals.

Adegbite said in an exclusive interview that the current task for the Nigerian government is to select a few of those minerals and de-risk them for potential investors.

However, while maintaining that the mining sector is very important, the minister indicated that responsible mining and sustainability should be top priorities.

He added that mining, by its very nature, is disruptive and, consequently, the environmental impacts on communities should be limited.

Adegbite also emphasised the communal ownership of minerals, saying, the country’s government administer mining but grant its ownership to the community.