FG to engage stakeholders in mining sector for wealth creation, employment

THE Federal Government, on Wednesday, reiterated its determination to improve her engagement with State Governments and stakeholders in the minerals and mining sector to achieve full potentials of the industry for wealth creation and employment.

Minister of Mines and Steel Development, Dr Kayode Fayemi, who made this known in a statement by his Special Assistant on Media, Olayinka Oyebode, a copy of which was made available to the Nigerian Tribune in Abuja, said there was need to partner with states, particularly around financial participation, revenue sharing and recognising the oversight on the part of Federal Government.

According to him, “the new roadmap for the sector already dwells on this and States are being taken into consideration- ranging from the establishment of the Council on Mining and Mineral Resources Development to the extension of derivation principle of 13% to mineral resources extraction at the state level”.

He noted that in line with the initiative, the ministry commenced a nationwide tour of mining sites and meeting with stakeholders starting with Kaduna, Lagos and Ogun States.

The minister said that the essence of the tour was to ensure that all parties recognise their social responsibilities.

“The Ministry is working to attract a diverse portfolio of participants from artisanal miners to junior explorers to mining majors into the industry”, Dr Fayemi added.

Earlier, the President of the Nigerian Mining and Geosciences Society, Professor Olugbenga Okunlola, noted that the society in its 56th year of existence has assisted the government and the private sector in policy formulation and execution, intellectual contribution in the sphere of mining, oil and gas, water and mineral processing, training and skills acquisition engagement.

He said that the society has also organised programs, lectures, workshops, short trainings, direct and indirect engagement in the extractive industry, adding that the extractive industry produce the wealth of the nation.