ABUJA (Min of Mines and Steel Dev Report) – The Minister of Mines and Steel Development, Arc Olamilekan Adegbite, has said that the Ministry is committed to applying the International Mining Regulations, to achieve growth in the Minerals Sector.
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He stated this when he received the International Executive Director of Extractive Industries Transparency Initiative (EITI), Mark Robinson and the Executive Secretary, Nigeria Extractive Transparency Initiative, (NEITI), Waziri Adio, at the Ministry’s Headquarters, in Abuja, recently.
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The Minister who was represented by the Minister of State, Dr. Uchechukwu Ogah, disclosed that the Ministry is determined to ensure that registered mining companies operate within the confines of the regulations and guideline structure of the Nigeria Extractive Transparency Initiative (NEITI), to achieve total transparency in the sector.
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The Minister who believes that operating by the regulations would not only increase the revenue generation in the minerals sector, but also, ensure that revenue generated is safely secured in government coffers, assured the team of the Ministry’s readiness to deepen the partnership and collaboration with EITI and NEITI towards growing the Nigerian economy.
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He revealed that the Ministry is working on restructuring and reforms, that would revive the sector, and also increase the revenue base and grow the Gross Domestic Product (GDP) of the country making it key alternative to diversifying the economy.
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Earlier, the Executive Director, Extractive Industries Transparency Initiative, (EITI) in Oslo, Norway, Mark Robinson, expressed satisfaction in the revival of the minerals sector in the country. He said Nigeria stands to benefit huge potentials from belonging to EITI, as member countries attract huge investment opportunities.
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He further disclosed that he is confident that Nigeria’s membership would be a source of revenue generation, job creation and economic growth, noting that there are huge and increasing demand for mineral resources globally.
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He commended the Ministry’s commitment to operating by EITI and NEITI Regulations, adding that such good practice of transparency and accountability would ultimately create good investment and confidence in investors.
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In his remarks, the Executive Secretary Nigeria Extractive Industries Transparency Initiative, (NEITI), Waziri Adio, said the visit was to seek further collaboration between the Ministry and NEITI and to introduce the newly appointed International Executive Director, Mark Robinson. He disclosed that NEITI is working on the report on Survey of Mining Landscape in Nigeria.
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Tine-Iulun, M.A
For: Director (Press)
