The Federal Government has secured 150 million dollar loan from the World Bank to develop the sector, in a bid to make the mining sector deliver on its responsibility of repositioning the economy.
Besides, the Ministry of Mines & Steel Development said it has also handled the issue of low funding through the 30 billion naira Intervention Fund meant for exploration to help sectorial growth.
Speaking at a programme organised by the Manufacturers Association of Nigeria (MAN) in Lagos, the Minister of State for Mines and Steel Development, Abubakar Bawa Bwari, said the Ministry has undertaken far reaching re- forms and developed strategies to fulfil its mandate, having been identified as a sector to facilitate the Federal Government’s diversification efforts and source of additional revenue.
He said the mandate given to the ministry was to increase the revenue generation from the sector, broad- en the sector’s capacity to create jobs, and implement policies that will engender sustainable mining.
