*The Federal Government of Nigeria has urged stakeholders in the solid minerals sector to increase investments towards accelerating operations and ensuring that investments go beyond the current artisanal and small-scale levels in the economy

Isola Moses | 绿帽献妻

The Federal Government has charged stakeholders to increase investments in the solid minerals sector of the country鈥檚 economy towards scaling up operations and ensuring that investments go beyond the current artisanal and small-scale levels.

President Muhammadu Buhari has directed the Presidential Artisanal Gold Mining Development Initiative (PAGMI) to provide a six-month progress report on the Solid Minerals Development Fund, designed to capture accruals from investments.

Some mineral depots in Nigeria

绿帽献妻 reports Mr. Femi Adesina, Special Adviser to the President on Media and Publicity in statement issued Wednesday, December 29, 2021, said that the presidential directive was also aimed at ensuring probity and best practice in the mining sector in Nigeria.

The Presidency noted that Buhari, at a briefing by the Steering Committee and Management Team of PAGMI at the State House, urged the team to jack up operations in the mining sector by ensuring that investments go beyond artisanal and small-scale levels.

The statement said: 鈥淭he PAGMI Management Team should now develop innovative ways to move PAGMI to the next level to ensure the Nigerian mining story goes beyond artisanal and small-scale mining.

鈥淚 support the Steering Committee鈥檚 target of aggregating 3-5 tons of gold over the next 12 months, as this will deliver tremendous fiscal and economic benefits to the nation.鈥�

The President stated that 鈥渢he Solid Minerals Development Fund should work with all relevant Government agencies to identify the support and funding needed to deliver on this aggregation target.

鈥淣ow that you have successfully delivered a pilot scheme in Kebbi State, it is time to roll out and expand sustainably across other Sates. The Government is committed to providing all the necessary support required.鈥�

Buhari, therefore, urged PAGMI to ensure that the Solid Minerals Development Fund fast-tracks delivery of other directives to support the Presidential Fertilizer Initiative.

All stakeholders should conclude the ongoing assignment of recommending a portion of accruals to be dedicated to the Solid Minerals Development Fund, noted the President.

The Federal Government said: 鈥淭he dedication of a portion of accruals to create a sustainable income stream for the Solid Minerals Development Fund is essential to delivering the mandates assigned to the Fund.

鈥淭he development of a sustainable stream for the Fund will conclude the implementation of the Fund鈥檚 Establishment Act, which is a key focus area for this Administration.鈥�

The statement added: 鈥淭his initiative is of great pride to me because through our intervention we can reach hardworking Nigerians in the field, toiling and the quarries under the sun trying to earn an honest living.鈥�

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