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Punch Newspapers punchng.com 04 Aug, 2022 01:00 am

FG fails to disburse over N11.2bn fund – Miners

FG fails to disburse over N11.2bn fund – Miners
The Miners Association of Nigeria has decried the lack of adequate funding in the mining sector, stating that the Federal Government has failed to effectively implement over N11.2bn intervention funds for the mining sector.

4th August 2022 Naira notes 4th August 2022 The Miners Association of Nigeria has decried the lack of adequate funding in the mining sector, stating that the Federal Government has failed to effectively implement over N11.In his speech, he said, “the Federal Government through the CBN, NEXIM bank, BOI and other financial institutions in Nigeria have announced one intervention or the other for the Nigerian mining sector in the last decade without trace of implementation.Muhammad urged the Federal Government to accord the solid minerals sector similar attention and funding models similar to those in the agricultural sector.Muhammad said it was crucial for the Federal Government to review the policy as it had given foreigners indiscriminate access to mining locations across the country.

2bn intervention funds for the mining sector.” He went on to mention three established funds, which included N5bn BOI intervention fund for artisanal and small-scale miners, N6bn post-COVID-19 intervention fund, and N200m small-scale miners fund.

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