As solid minerals, downstream workshop holds Dec 2

By Gabriel Ewepu – Abuja

The Minister of Mines and Steel Development, Arc. Olamilekan Adegbite, at the weekend, stated that the downstream mineral policy will revamp Ajaokuta Steel Company and other critical areas in the solid minerals sector.

Adegbite who was represented at a media interactive session on the upcoming solid minerals downstream workshop holding on December 2, 2019, in Abuja, by the Special Adviser on Special Duties to the Minister of Mines and Steel Development, Sunny Ekozin, said it has become imperative to fast-track the diversification of the​ economy through the solid minerals sector following the mandate given him by President Muhammadu Buhari.

READ ALSO: Buhari charges ministry on quick completion of Ajaokuta steel firm

He added that the mandate includes solving long intractable problems bedeviling the sector over the years in order to pave the way to diversify the economy.

He further stated that the new move to galvanise the sector within the next three years of the Buhari-led administration will put the country on the​ list of most preferred global mining destination for​investors.

The solid minerals downstream workshop is being organised by the Ministry of Mines and Steel Development and supported by the MinDiver project under the World Bank and partnered by the Lagos Business School.

He said: “I am glad to inform Nigerians that with the articulation of these problems over the past 90 days, this regime is on the path of making a renaissance in harnessing the potential that abounds in this sector for the good people of Nigeria.

“One of the great strides taken by the Honourable Minister, Arc. Olamilekan  Adegbite is the current process of developing Nigeria downstream mineral policy, a mineral value chain initiative, this is the first of its kind ever done in Nigeria.

“The downstream mineral policy will trigger the nation with a clear diversification blueprint in a sustainable manner, especially for the revamping of Ajaokuta Steel Company and the effective harnessing of the abundant minerals endowment spread across the 36 States of the federation and the Federal Capital Territory, FCT.

READ ALSO: Completing Ajaokuta steel coy will revive Nigeria’s automotive industry — DG

“As part of the process leading to the revamping of the entire solid minerals sector, we are sensitising key stakeholders, especially large investors of this noble and novel initiative for the development of our solid minerals downstream value chains leading to massive job generation, wealth generation and industrialization.”

According to him, there is a great paradigm shift in the ways the sector has been administered.

“We shall diligently, patriotically and sternly implement the laws to ensure that Mr. President’s mandates are realized within the next three years”, he said.

However, he said the tide of massive job exportation and huge revenue loss will be stopped.

“We shall stem the exports of jobs and wealth by unwittingly exporting over 35 million metric tonnes of unprocessed mineral products annually​.

“We shall open up this sector to genuine indigenous and foreign investors to actively participate in the downstream licencing of mineral plants”, he said.

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