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The Implementation of the World Bank US $120 m credit
granted Nigeria under the Sustainable Management of Mineral
Resources in the Ministry of Mines and Steel Development
Project for the development of the nation’s mineral sector
has recorded significant progress over the last two to three
months.
This commendation was made in Abuja by the World Bank
Country Director, Mr. Onno Ruhl and the Task Team Leader of
the Sustainable Management of Mineral Resources Project, Mr.
Craig Andrews during a meeting with the Minister of Mines
and Steel Development, Mrs Diezani Alison – Madueke and
officials of the Ministry.
In her remarks, Mrs. Alison – Madueke noted that the
Ministry had recorded significant progress in the
implementation of the project in the last few months.
She said “I am very pleased that our assessment in the
implementation of the World Bank project has improved quite
substantially over the last few months”.
The Minister, who commended the World Bank Sustainable
Management of Mineral Resources Project which focuses on the
development of Artisanal and Small Scale Miners and its host
communities, said that it would create in the region of
twenty (20) million jobs if the policy is well articulated
over the next few years.
She said that through the efforts of the World Bank Project,
the Ministry had put in place various programmes such as
capacity building programmes and logistics to improve the
operations of Aritisanal and Small Scale Miners.
Mrs Alison - Madueke added that the Project had also
supported the exploration and exploitation of Bitumen and
Gemstones in the country, as well as
Global Mining Investment forays in Canada, United Kingdom,
Australia and South Africa where the international audience
such as Junior Miners and operators in the mining industry
were addressed by the Minister.
She said that increased funding to the Sustainable
Management of Mineral Resources Project would extend the
implementation of the grant to the middle and higher cadre
of the Artisanal and Small Scale Miners, adding that, seed
loans from commercial banks were being sought for this
category of people in line with the present administration’s
Seven Point Agenda of Poverty Alleviation.
The Minister disclosed that the Ministry would be running
Global Mining Investment Road shows later in the year in
Australia, London, Johannesburg and Shanghai where officials
of the Ministry would meet with the very high echelon in the
Mining Industry to showcase Nigeria’s mineral potentials and
the benefits of investing in that sector in the country.
She said the intention is to attract junior miners
and major operators in the Mining industry to the
sector.
Mrs. Madueke also disclosed that the Ministry had enjoyed
the support of the World Bank in the development of
Gemstones of which Nigeria boasts of a rich variety of
very high quality.
Earlier in his remarks, the World Bank Country Director, Mr.
Onno Ruhl said that the purpose of his visit was to review
the implementation of the Sustainable Management of Mineral
Resources project in respect to the performance indicators.
The Country Director said that significant progress has been
made in the implementation of the project to support
Artisanal and Small Scale Miners, whereby over N53 Million
grants were given to the first beneficiaries of the micro
grants to improve their operations.
Mr. Ruhl said that part of the support to the Sustainable
Management of Mineral Resources Project would create a
framework for major investment in the Nigeria’s mining
sector through the establishment of the Cadastre regulations
and the completion of the geological mapping of the
country.
While noting the present administration’s commitment to
diversify the economy from a mono product one to other
strategic resources such as mining of solid minerals and
agriculture, Mr. Ruhl said that, the World Bank believed in
the developmental trends of the sector and was ready to
render continued support to the sector through increased
funding. |
