The federal government has announced plans to partner with the Africa Finance Corporation to gather data that would be used to de-risk investment in the mining sector.
In a statement Thursday, the Minister for Solid Minerals, Dr. Oladele Alake, said it is consolidating partnerships to develop the necessary data needed to advance the $700bn value under the ground resources the country is yet to explore.
Speaking during a visit by the President/CEO, Africa Finance Corporation, Samaila Zubairu, Alake explained that every effort being made to through policies and programmes to make Nigeria a destination for solid minerals development would be futile if the nation didn’t improve on data.
He said, “These initiatives directly support Mr. President’s renewed hope agenda, particularly in foreign direct investment, job creation and increased fiscal revenues. The agreement is a critical win under the recently announced transformation agenda as it directly supports establishing processing centres to focus on value- added products ‘’.
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Speaking earlier, Zubairu stated that the quantum and value of Nigeria’s solid minerals has made it imperative to develop a framework of partnering with the ministry to grow the sector for rapid economic development of the country.
