Charting way forward for mining sector's rebound - The Nation Newspaper

The mining sector is projected to contribute at least three per cent to the nation’s Gross Domestic Product by 2025, if adequately exploited. To make this happen, experts recommend full operation of Ajaokuta Steel Company in Kogi State.

More importantly, they also canvassed putting the moribund Ajaokuta Steel Company in Kogi State into full use. For instance, Partner and Advisory/Mining Leader, PricewaterhouseCoopers , Cyril Azobu, said the government must, as a matter of urgency, put politics aside and resolve every issue negating the full operation of ASC.

“That will then create a lot more services around the sector. Eventually, we will then be able to achieve import substitution,” Azobu said, adding that a country that’s looking at industrialisation will need a lot of steel. He said although there are people who have overtime been handling the Ajaokuta Steel Complex, one can’t run what is not fully operational. He also observed that some segments of the complex are producing, but they are not fully operational hence the need to activate and make it run.

Former Special Adviser on Forestry, Natural and Mineral Resources, Osun State, Tunde Ajilore, urged the Federal Government to address the issue of illegal mining so that the nation’s resources will not be smuggled out of the country without any benefit to the economy and Nigerians. Azobu also noted that there are a lot of undocumented activities in the mining sector in the past, which again is why government needs to give a lot of attention to address illegal mining.

His words: “A total number of 1,759 Artisanal and Small Scale Miners, ASM, sites have so far been identified across Nigeria. Under the Roadmap, the mining sector is projected to contribute about three per cent to the GDP by 2025, up from 1.5 per cent. But for Azobu, it’s not enough to set the target, government and stakeholders should have a clear implementation plan that will make the set objectives to happen.

They include inadequate infrastructure, insufficient funding, high risk and health hazard, insufficient geological data, lack of well-equipped laboratory, low productivity, and weak regulation Also, for mining firms to run smoothly and efficiently, experts say that the basic amenities and infrastructures must be available in a reliable form.

Nigeria Latest News, Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

8 amazing health benefits of cryingChecking out '8 amazing health benefits of crying' on The Nation Newspaper Community:
Source: TheNationNews - 🏆 6. / 69 Read more »

Nigerian celebrities you did not know are twins (Photos)Checking out 'Nigerian celebrities you did not know are twins (Photos)' on The Nation Newspaper Community:
Source: TheNationNews - 🏆 6. / 69 Read more »

10 tricks you probably didn’t know about your smartphone - The Nation NewspaperBy Praise Olowe Smartphones have revolutionised the world in so many different aspects. Most people don’t know the usefulness of their Smartphones as some just think they are only meant to call, receive calls, surf the internet etc. While people maximise most of the features of their smartphone, others use them just to make calls. …
Source: TheNationNews - 🏆 6. / 69 Read more »

Seven prominent Nigerian men who married younger women - The Nation NewspaperAge, as the popular axiom says, is nothing but a number. And when it comes to love, it is surely not a boundary. This is why many men have married much younger women. Some of them married younger women later in their lives. One politician even married a woman 40 years his junior. Here are …
Source: TheNationNews - 🏆 6. / 69 Read more »

‘We ‘ll make Egungun Festival a global event’ - The Nation NewspaperTHE people of Ota in Ogun State have said they would make the Egungun (masquerade) Festival a well-accepted event by spreading its celebration
Source: TheNationNews - 🏆 6. / 69 Read more »

IMCOSA seeks govt, stakeholders support - The Nation NewspaperThe President, Ijebu Muslim College Old Students Association (IMCOSA), Engr. Kayode Sote has canvassed for the support of the government...
Source: TheNationNews - 🏆 6. / 69 Read more »