Akinlade hails council on mining, mineral resources development on mandate achievement
By Gloria Akudoro, Abuja
The Permanent Secretary, Ministry of Mines and Steel Development, Dr. Oluwatoyin Akinlade has stated that the National Council on Mining and Mineral Resources Development’s annual meetings have contributed immensely in achieving President Muhammadu Buhari administration’s mandate for economic diversification.
She made this statement at the opening of the 3-Day 4th edition of the National Council on Mining and Mineral Resources Development in Abuja with the Theme; “Realigning The Minerals And Metals Industry To Address The Impacts Of The COVID-19 Pandemic.”
According to her, the Ministry of Mines and Steel Development is the only MDA that met its revenue target in 2020 following the last Council meeting before the COVID-19 pandemic struck, and that while the palliative funds resulting from the ravaging pandemic were being deployed to other uses in most MDAs, the Ministry embarked upon what is known as Economic Sustainability Projects across the six geopolitical zones of the federation which aid to stimulate economic activities for creation of sustainable wealth for the citizenry.
The following are states that benefited from the initiated projects, Kaolin processing plant in Bauchi – North East, Gold Souk in Kano – North West, Gold processing plant in Kogi State – North Central, Lead-Zinc processing plant in Ebonyi – South East, Gemstones Trading Platform in Oyo State – South West, and Barite Processing plant in Cross River State – South South.
The Permanent Secretary further enumerated some of the major economic achievements of the last National Council which include: Increase in revenue generation from N5.4 billion in 2020 to N7.8 billion in 2021 post COVID-19, that surpassed the projections for the period; improved rating of the Ministry in the Anti-Corruption and Transparency Compliance Index from 26.5 per cent in 2020 to 76.6 per cent in 2021; completion of the phase 1 of the National Integrated Mineral Exploration Project (NIMEP) which resulted to bankable geosciences data that attracted in-flow of investments the sector.
Others are Federal Executive Council (FEC) approval of the Nigerian Mineral Value Chain Policy to ensure local processing of Mineral ores, FEC approval of the Transaction Advisory Services for the resuscitation and full operation of the Ajaokuta Project which has long overdue as well as the Mining Cadastre Office EMC+ which enables easy access of mining license from any part of the globe; Rehabilitation of equipment at National Iron Ore Mining Company (NIOMCO) Itakpe; and training and provision of startup packs for over 200 persons on foundry and other skills in the metals sub sector.
Akinlade who urged the council to generate positive resolutions that would proffer better solutions for the Minerals and Metals sector, attributed the ministry’s achievements to the unflinching support received from the President Buhari and from its esteemed stakeholders in the minerals and Metals value chain.
Also at the event, the Director of Planning, Research and Statistics, Mr. Ken Onwumbiko, said Mining Council convergence is for stakeholders in the sector to brainstorm ideas, share their experiences, formulate and also review policies as well as proffer solutions to the challenges being faced by the sector.
So far, the Ministry was said to have received a total of 31 memoranda on the three thematic areas from relevant stakeholders which would be thoroughly reviewed and implementable recommendations will be made.
Notable participants at the council include, Honorable Ministers of Mines, State Commissioners and Permanent secretaries, Government Agencies, relevant Departments, Mining Operators, Mining Associations of Nigeria and other stakeholders contributing to the mining value chain.
