The Minister of Mining and Steel Development, Kayode Fayemi, has identified insufficient data and weak implementation of mining laws at both federal and state levels as the key challenges bedevilling the sector.
Fayemi said this during the presentation of the Mineral Sector Support for the economic diversification project in Abuja yesterday. He said the challenges informed the development of a roadmap by the ministry.
“In collaboration with key stakeholders in the mining sector we decided to develop a roadmap that will solve these challenges which we want to achieve through rebuilding market confidence, expanding domestic access and processing of minerals and also contributing to global and mineral market”, he said.
The task team leader of the world bank MinDiver project, Francisco Igualada said the major aim of world bank in the project is to promote extractive work of world bank through consultations with the Nigerian government and also attracting investment in the mining sector.
In his remarks, Ebonyi State Governor Dave Umahi commended the World Bank in driving the mining sector through the project as the narrative in the mining sector is changing.