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African Development Bank endorses FG’s Mining Roadmap

 By Abimbola Fashakin, Lagos

 

The African Development Bank (AfDB) has endorsed the Federal Government’s Roadmap for mining, ahead of the public presentation of the document by the Ministry of Solid Minerals Development.

 

The Roadmap has received inputs from different stakeholders and state governments, is awaiting approval of the Federal Executive Council before its official unveiling.

 

Country Director of the bank in Nigeria, Dr Ousmane Dore, said the Bank had reviewed the Mining Roadmap and is prepared to partner with the Ministry of Solid Minerals Development to actualise it.

 

Ousmane who spoke at the opening session of the International Mining and Investment Conference/Exhibition on Nigeria in Abuja on Monday, was responding to the Minister of Solid Minerals Development, Dr Kayode Fayemi, who challenged local and international financial institutions to invest in the sector.

 

He said the AfDB is also prepared to support the sector by providing funding for mining operations as well as technical assistance.

 

He said the comprehensive nature of the Mining roadmap shows the Federal Government’s commitment to the re-positioning of the sector to meet its economic diversification plan.

 

Fayemi, had in his keynote address at the event, highlighted some provisions of the Roadmap, emphasising  two key components of environmental justice and

transparency.

“Our mandate at the Ministry of Solid Minerals Development is to deterministically scale –up the capacities of the sector by transforming it into a strategy catalyst for domestic growth, in terms of creation of jobs and increased revenue, while achieving a high level of global relevance” said the Minister.

 

Fayemi added that the recently approved Medium Term Expenditure Framework (MTEF) and the Fiscal Strategy Paper (FSP) are very supportive of the aspiration.

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