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Nigeria’s Mining sector has got a complete
legislative framework to drive the development of the
sector.
The Minister of Mines and Steel Development, Arc.
Musa Mohammed Sada made the remark on the occasion
of the presentation of Nigeria’s Minerals and Mining
Regulations to investors, stakeholders and members of
the public in Abuja today.
In the words of the minister : “Today’s event marks
the completion of our journey towards the provision
of the required regulatory framework for mining in
Nigeria. In the recent past the Nigerian Minerals and
Mining Act 2007 was enacted by the National Assembly.
That was followed with the launching of the National
Minerals and Metals Policy by the ministry in January
2008.’’
The Minister said that the Regulations will meet
the yearnings and aspirations of all stakeholders,
prospective indigenous and foreign investors since
their inputs were taken into consideration in the
formulation of the document.
Arc.Sada presented copies of the Regulations to
departments and agencies of the ministry, operators
and other stakeholders and advised them to read it
for proper guidance in their operations in the
sector.
He observed that the Mining sector holds great
potentials to assist in the diversification of the
nation’s economy if well developed in the following
areas: creation of employment opportunities; achievement
of substantial increase in the nation’s Gross Domestic
Product; poverty reduction and wealth creation; foreign
direct investment.
In her remarks at the occasion the Permanent
Secretary in the Ministry of Mines and Steel Development,
Mrs. Elizabeth Emuren said that the public presentation
of the Minerals and Mining Regulations marks another
step in the ministry’s effort to place the mining
sector in its proper place in the scheme of our
national life to fast-tract the orderly development
of the vast mineral resources in the country.
Mrs. Emuren disclosed that in order to operate the
2007 Minerals and Mining Act effectively, the Honourable
Minister of Mines and Steel Development, Arc. Musa
Mohammed Sada inaugurated a committee in July 2010 to
work on the Draft Minerals and Mining Regulations which
was vetted by the Ministry of Justice and approved
by the Federal Executive Council before its public
presentation.
She advised the regulators, mining investors and other
stakeholders to make judicious use of the document.
Stakeholders commended the ministry for the
completion of the work on the Minerals and Mining
Regulations and its presentation to members of the
public, adding that the effort will result to
rapid development in Nigeria’s mining sector.
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