By Paul Efiong. The Federal Government on Monday announced a two-month grace period to licensed miners in the country to update their operational papers or loose them even as it is currently working with critical stakeholders in the sector to review their papers.
Speaking during the inaugural media briefing on Monday in Abuja, the minister of Solid Minerals Development, Dr. Kayode Fayemi explained that there was no room for licensed miners to be lukewarm in the sector as his ministry was ready to enforce the Nigerian Minerals and Mining Act, 2007 from 1st March 2016.
He said the ministry has concluded strategies through which the existing licensees who are lukewarm will be shown the way out unless they sit up.
According to the minister, operational papers and up-to-date review of their documents will enable licensees who are sitting on the fence to have sufficient confidence to start investing in the sector for the purpose of generating revenue to the government.
Dr. Fayemi who said his inaugural media briefing was to acquaint Nigerians with some of his ministry’s emerging strategic priorities plans, added that the Ministry of Solid Minerals Development action plans among others include to make solid minerals sector vibrant, in order to contribute its quota to Nigeria’s economy.
Responding to questions on numbers of minerals available in the country, he said “we have at least 44 known minerals assets which include among other minerals such as: base metals, bulk minerals as well as rare earth minerals such as: gold, iron ore, barite, bitumen, lead as well as lead, zinc, tin and coal among others.
He equally spoke on his ministry’s role as a revenue generating agency of government stressing that since oil sector has failed, people and government should be ready to work and support solid minerals sector in order to achieve its mandate.
On the contribution of solid minerals to Nigeria’s Gross Domestics Product (GDP) the minister said ‘based on the current data, Solid Minerals sector contribute about 0.34% pointing out that going by the current official exchange rates, the mining sector contributes N400billion in value to Nigeria’s economy.
The minister also identified two major challenges militating against his ministry, these according to him include: external and internal challenges which he said are surmountable.
