Mining sector is set to make substantial contributions to the development of Nigeria’s economy if supported by the government.
Stakeholders in the sector said they are targeting to create about two million direct jobs for Nigerians from the sector.
Miners under the Progressive Miners Empowerment Association, PMEA, said about N200 billion can revive the sector.
National President of the association, Sunday Ekozin said at a press conference to announce the first Miner Forum aimed at creating awareness, coming up in October that if the government wants to curb the activities of illegal mining in Nigeria, it must collaborate with it.
Ekozin said that objectives of the forthcoming forum is to attract investments into the sector; boost the non-oil export in Nigeria; sensitize both local and foreign investors; create mining renaissance in Nigeria and create two million direct jobs.
He said, “We have observed that every state in Nigeria is endowed with mineral resources. Nigeria is becoming a dumping ground for imported goods and no nation can develop with importing of what it can produce.”
In the 1960s, mining like agriculture boosted the economy but has been neglected.
Mining can be categorized into artisan, small, medium and large scale.
What is required to effectively involve in artisan mining is about N1 million, small mining N50 million, medium mining N200 million and large scale mining N1 billion.
In addition to the $120 million concessionary credit Nigeria received in 2004 from the global lender as part of a Development Credit Agreement towards funding the Sustainable Management of Mineral Resources Project, SMMRP, implemented by the Ministry of Mines and Steel Development, the Federal Government had sought an additional $80 million credit from the World Bank to enable the implementation of additional work necessary to trigger the full development of the mining sector in the country.