Share this:

Like this:

Like Loading...
" />
Published On: Tue, Feb 20th, 2018

Mining sector responsible for Nigeria’s improved ease-of-doing-business ranking -Fayemi

Share This

By Musa Adamu

Minister of Mines and Steel Developmenylt, Dr Kayode Fayemi, has attributted the improvement in Nigeria’s ranking in the World Bank’s Ease-of-Doing-Business rating to the various reforms by the present administration, including reforms in the mineral and mining sector.
Dr. Fayemi, who disclosed this in Abuja, said the reforms in the mining sector had helped to reposition the sector as a major revenue earner and improved the country’s rating as a mining destination of choice.
Dr Fayemi spoke at the opening session of a policy and capacity building workshop for senior officials of the ministry, professionals and stakeholders in the mining industry, organised in partnership with the Australian government.
The Australian delegation, which comprised of mining experts, was led by the Deputy High Commissioner, Cleo Wilson.
He stated that the mining sector was being positioned to contribute optimally to diversifying the Nigeria economy’s revenue base and creating jobs and economic opportunity for the nation as captured in the Roadmap for the growth and development of the mining industry.
He said the workshop would provide officials of the ministry, and other stakeholders essential knowledge as well a great opportunity to share experiences on both technical and regulatory issues.
He said that the ministry’s aspirations was to build a world class mineral and mining ecosystem to serve a targeted domestic and export market for the mineral sector.
He added that the federal government had demonstrated commitment by collaborating with different stakeholders including government of advanced mining jurisdiction.
He said the workshop with the theme: “Policy and Capacity Building Workshop for a Successful and Sustainable Mining Sector 2018”, was a follow up to the first edition that took place in 2016, which focused on the significance of transparency, legislation, and regulatory framework as well as geoscience and resource information.
Represented at the workshop by the Permanent Secretary in the Ministry, Dr Muazu Abdulkadir, the Minister noted mining’s contribution to the country’s economic growth that grew by 0.55% as at 2017.
He said: “The mining sector also grew by 2.24% and achieved a 300% increase in revenue (royalty and fees) between 2015 and 2016, and a steady progress and as at November 2017, the sector had already surpassed the entire revenue of about N2billion generated for the whole of 2016, with over N3.5billion contributed to the federation account.”

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

%d bloggers like this: