FG Has Provided N30bn For Mining Sector Development, Says Osinbajo.
Acting President Yemi Osinbajo says the Federal Government is moving swiftly to break all bottlenecks discouraging investment in Nigeria’s mining sector. The Acting President stated this on Tuesday while addressing investors at the inaugural National Mining Summit in Abuja, the Federal Capital Territory. “The Ministry of Mines and Steel Development has been granted access to the mining sector component of our natural resources development fund for a sum of N30bn [approximately $100m], an intervention fund from the Federal Government,” he said. Professor Osinbajo explained that the move was part of measures by the government to help provide cheap loans and grants to industry participants as well as for directly investing in foundational infrastructure. He said the Presidency would work closely with the Nigerian Stock Exchange to create new funding arrangements and incentives for investors willing to invest in the sector. “We are currently working with the Nigeria Sovereig...

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