Politics
Breaking News: World Bank Collaborates with FG To Boost Funding For The Mining Sector Through AI-driven Initiatives
Breaking News: World Bank Collaborates with FG To Boost Funding For The Mining Sector Through AI-driven Initiatives....KINDLY READ THE FULL STORY HERE▶
The Ministry of Solid Minerals Development of the Federal Government is actively pursuing a collaboration with the World Bank to secure financial and technical support for the advancement of the mining sector, according to a statement by the minister’s Special Assistant on Media, Segun Tomori…….CONTINUE READING
During a recent courtesy visit by World Bank Country Director for Nigeria, Shubham Chaudhuri, to Solid Minerals Minister Dele Alake, Chaudhuri expressed satisfaction with the government’s renewed focus on developing the nation’s mineral resources. Recognizing Nigeria’s substantial reserves of economically viable minerals, he emphasized the World Bank’s willingness to partner with the ministry in financing targeted intervention areas and ensuring the effective implementation of projects.
Chaudhuri highlighted that the World Bank’s support extends beyond financial assistance, as it can also provide technical expertise to enhance mining operations in the country. Minister Alake commended the World Bank for its longstanding commitment to driving development across various sectors of the economy and thanked the institution for its recent support in initiatives such as palliatives following the removal of fuel subsidies.
Expressing gratitude for the World Bank’s involvement in the mining diver project, Minister Alake looked forward to strengthening collaboration to secure essential funding for critical aspects of the mining sector, coupled with the necessary technical support.
Outlining the vision for the mining sector, Minister Alake identified investment in exploration as a primary focus to generate vital geo-data for informed investor decisions. He also highlighted ongoing efforts to establish effective governance structures and ensure a secure mining environment.
Minister Alake reassured stakeholders that the Federal Government is fully committed to providing a conducive environment to safeguard mining operations while maximizing benefits to host communities and generating revenue for the government through royalties and taxes.
Source: Bushradiogist
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