By Joseph ERUNKE

ABUJA — In view of some difficulties being experienced in carrying out some activities in the solid minerals sector due largely to inadequate funds at the disposal of the Ministry of Mines and Steel Development, a commercial bank, Fidelity Bank Plc, has pledged to take up the challenge of funding some mining projects.

The bank said it was ready to collaborate with the ministry in order not only to explore the potentials in the mines and metal sector of the nation’s economy, but expose the solid minerals products to the outside world for higher patronage.

Its position was in response to the request of the Minister of Mines and Steel Development, Mr. Mohammed Sada, who had called on commercial banks in the country to come up with programmes that would enhance the professional skills of mineral title holders, saying there was the need for innovation so as to re-package the solid mineral products for improved patronage.

Deputy General Manager of Fidelity Bank, Hassan Imam, made the bank’s pledge during a visit of the management team of his organisation on the minister in Abuja, during which the bank presented a brand new Toyota Hilux jeep to assist the Ministry in carrying out work on its project.

Imam said the purpose of their visit was to seek for collaboration with the ministry towards the growth of the nation’s minerals and metals sector as well as to donate the vehicle which he called ‘’project vehicle” to the ministry in order to enhance its mining operations.

“The minerals and metals sector is a major sector of the economy and we do believe sincerely that if it is properly harnessed, it will generate a lot of economic activities thereby creating wealth for the nation,” he said.

While assuring the minister of more things to come in areas of partnership towards the development of the minerals and metals sector, he said the sector provides another opportunity for the diversification of the economy of Nigeria.

He disclosed that the Fidelity Bank was ready to organize seminars for all stakeholders in the sector on how to access funds from commercial banks for the financing of their mining projects.

The minister had tasked commercial banks to particularly organize workshops for mineral title holders in order to expose them to the mode of packaging their mining projects to satisfy the requirements of their customers. He said it was high time commercial banks take up the funding of mining operations in Nigeria.

Sada reaffirmed government’s proactive steps in supporting mining projects through the establishment of the Solid Minerals Development Fund which he said, would be used to provide infrastructure for the mine sites, improved geosciences data as well as other supports for the sector.

He applauded the role of Fidelity Bank over what he described as “being a partner in progress in the development of the country’s minerals and metals sector, maintaining that government would continue to create a conducive environment for the sector so as to create wealth in line with the transformation agenda of the present administration.”

The minister assured that government was committed in its efforts at diversifying the nation’s economy and ensures self -sustenance in the minerals and metals sector of the country.