FG’s regional mining projects’ll galvanise solid minerals sector towards GDP growth — Adegbite
Says COVID-19 stalls arrival of technical auditors on Ajaokuta Steel Company
By Gabriel Ewepu – Abuja
The Minister of Mines and Steel Development, Arc Olamilekan Adegbite, weekend, assured that Federal Government’s mining projects across the six geopolitical zones will galvanize the solid minerals sector towards boosting the growth of the nation’s Gross Domestic Product, GDP, as they boost the economy.
Adegbite gave the assurance during an interactive session in Lagos about the Ministry’s activities while explaining the essence of the projects.
According to him, the projects will increase revenue generation in the sector and fast-track diversification of the economy, which he revealed that the Federal Government received funds to embark on the projects across the six geopolitical zones as a way of cushioning the negative effects of the COVID-19 pandemic on businesses by giving priorities to minerals where each of the geopolitical zones has a comparative advantage.
He said: “The government is building a plant to process Kaolin in Bauchi in the North East, which after completion would bring an end to the importation of Kaolin.
“Bauchi is very rich in Kaolin which is used in pharmaceuticals and the paint industry, so we are building a plant to process Kaolin in Bauchi.
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“A gemstone market is to be built in Ibadan in the South West, where value will be added.
“The government would develop the Barite production in Ogoja, Cross River States in the South-South geopolitical zone.
“The Federal Government would discourage the exportation of raw lead by building a lead processing plant in Ebonyi in the South East region so that the State would be able to export lead ingot with all the impurities removed.
“A gold smelting plant would be situated in Kogi State for the North Central Zone due to its gold deposit and as a way of supporting the artisanal miners in the State.
“Kano was selected in the North West Zone for the establishment of a gold souk as a way of bringing back the old story of gold trade in Kano.
“What we are doing in Kano essentially, is not just a market, we are going to have people in the market that can turn the gold into the product by transforming your raw gold, add value that can give you jewelries.”
He added that the Federal Government is working on how to assist Nigerians gold as collateral for loans including the resuscitation of goldsmith trade in the country.
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“When we were young we have a lot of goldsmiths in Nigeria, you can take your old gold to them, they smelt it and turn it around by giving it a different design, we want to bring that skill back”, he said.
However, the Minister made it clear that the government would not be involved in running the plants, but will come up with a Public-Private- Partnership, PPP, arrangement.
“What we want to do is a partner with the right private sectors to run the business, it is meant to enhance the sector”, he said.
Meanwhile, in clearing the air, the Minister maintained that the government is doing a lot towards the completion of the Ajaokuta Steel Plant as promised Nigerians, but being slowed down by the COVID-19 pandemic currently ravaging the world hence has hindered the arrival of the Technical Auditors from Russia.
He also expressed hope that the Buhari-led administration would start something irreversible that will lead to the completion of Ajaokuta Steel Company Limited.
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