Senator James Manager
By Gabriel Ewepu
ABUJA- THE solid minerals sector has made significant progress with revenue generation of over N2 billion from N700 million in 2015.
This was disclosed by the Chairman Senate Committee on Solid Minerals, Senator James Manager, during an oversight function at the Ministry of Mines and Steel Development with members of the committee.
Senator James Manager
Manager also acknowledged various challenges in the sector and said despite that, the Minister of Solid Minerals Development, Dr. Kayode Fayemi, was not deterred but as a man of vision has made effort to take the sector to an enviable height.
He said: “As part of our oversight function we have come to the Ministry of Mines and Steel Development to ascertain the level of progress made and also know the challenges first hand we sincerely commend you (Kayode) for the major milestone you have achieved in terms of revenue generation in spite of the inherent challenges in the sector but as a man of vision you have taken the sector to a higher level.
“And you and your team have performed well in increasing the revenue profile of the sector from N700 million to over N2 billion in 2016. We pledge our support and partnership for the Minister and his team to achieve more for the sector.”
Meanwhile, the lawmaker expressed optimism over recent approval of N30 billion by the Federal Executive Council, FEC, from the Natural Resource Development Fund, NRDF, for the solid minerals sector and stated that if the approved fund will be appropriated in the 2017 budget the Ministry’s revenue profile will definitely increase.
He also urged the Minister to vigorously pursue and implement contents of the FEC approved Roadmap for the sector in order to fulfil dream of the government to make Nigeria a mining destination in Africa.
In his response, the Minister maintained that the President has demonstrated political will to galvanise the sector and position it for thorough diversification process of the economy.
“The Ministry has translated Mr President’s vision of diversifying the economy through the mining sector into a Roadmap, and has since been approved by the Federal Executive Council.
“With the recent approval of N30 billion Intervention Fund from the Natural Resources Development Fund it is the first of its kind for the sector in the history of the country”, he added.
However, speaking on some challenges in the sector he lamented about inadequate funding, late releases of budgetary allocation, huge backlog of debts, and technical and skill capacity gaps as well as lack of project vehicles for field officers in the State offices adding that project vehicles were last purchased in 2006, and asked for the committees’ support on inputs vital for improving performance of the sector, which will facilitate diversification of the economy.
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