The Federal Government, through the Ministry of Solid Minerals Development, and the World Bank have revealed plans for a collaborative effort aimed at unlocking financing and technical support for the advancement of Nigeria’s mining sector.
In a meeting between the Minister of Solid Minerals Development, Dr. Dele Alake, and World Bank Country Director for Nigeria, Shubham Chaudhuri, both parties expressed a shared commitment to revitalizing the country’s mineral resources sector. Chaudhuri emphasized the sector’s potential to significantly contribute to Nigeria’s Gross Domestic Product (GDP), citing the abundance of economically viable minerals in the nation.
The World Bank reiterated its readiness to collaborate with the ministry by providing financing for specific intervention areas in need of funding. Additionally, Chaudhuri highlighted the bank’s intention to offer technical assistance aimed at enhancing mining operations within Nigeria. He emphasized the bank’s insistence on transparent and effective fund utilization for all projects.
Minister Alake commended the World Bank’s commitment to supporting developmental initiatives across various sectors in Nigeria. He particularly acknowledged their recent support in facilitating palliatives following the fuel subsidy removal and their involvement in the ongoing mining diver project. Alake expressed optimism about fostering a stronger partnership with the World Bank, expecting it to result in essential funding and technical support for critical areas within the mining sector.
Alake also outlined ongoing efforts by the federal government to establish robust governance structures and ensure a secure environment for mining activities. He assured that the government remains dedicated to creating an enabling atmosphere to protect mining operations and maximize benefits for host communities.
