Nigerian Mining sector to collaborate with financial partners to revamp sector

May 17, 2019

Alhaji Abubakar Bwari, the Minister of State, Mines and Steel Development said that the government would continue to collaborate with International financial partners to revamp the sector.

Bwari sais this in a statement issued by the Director, Press, Mr Edwin Opara on Thursday in Abuja.

The minister of state, while receiving a team from the Mining and Metals Corporate and Investment Banking, Standard Bank, and Stanbic IBTC said that the collaboration would help in repositioning the sector.

He said it would also help the sector to take its pride of place as first among equals in terms of contributions to the national economic growth.

The minister of state reiterated the commitment of President Muhammadu Buhari’s administration to accord the sector priority that would enhance sustainable economic growth.

Bwari informed the team that funding had been one of the major factors mitigating against the development of the sector, adding that the interest of the banks to fund mining in the country was a welcome development.

“One of the potent areas we are looking forward to is funding, and I am sure that you are going to be a pace setter when it comes to funding mining operations in Nigeria,” he said.

Bwari assured the Executive Secretary, Solid Mineral Development Fund, Hajia Fatima Shinkafi, who facilitated the visit and the team that government would give the necessary support to ensure that the collaboration bring about the desired result.

Mr Mark Buncombe, the Global Sector Head, Mining and Metals, Standard Bank, who led the team said that the purpose of their visit was to explore areas of collaboration with the sector

He said that the collaboration would no doubt make positive impact in the sector

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