Minister, CBN Dialogue On Mining Sector Funds

The Federal Ministry of Mines
and Steel Development on Tuesday said it was discussing with the Central Bank
of Nigeria (CBN) to raise funds for investors in the mining sector.

The Minister of Mines and Steel Development, Mr Musa
Sada, made the announcement at a workshop, organised by the Council of Nigerian
Mining Engineers and Geoscientists (COMEG) in Abuja. “I have met with the
governor of the CBN to discuss financial assistance to investors in the sector.

“Some of these banks we are seeking financial assistance
from are Fidelity, IBTC, First Bank and Wema to establish desk officers in
their various offices to help investors in the sector. “Also we are trying to
introduce some mining financial courses in our universities,” he said. Sada
urged agencies under the ministry to organise their training in a way that it
would be graded from one level to another, so that when one passed he would
move to another level. He explained that participants at the workshop would
acquire skills in producing bankable reports, exploration and would also be
exposed to improve mineral processing techniques.

Earlier, the Chairman of COMEG, Mr Chamberlain Oyibo,
said the sector unlike oil and gas was under-funded.

Oyibo said that the training was in line with President
Goodluck Jonathan’s vision 20:20:20 directive to the council to commence a
mandatory professional development programme for its professionals.