FG appeals to bank on funding sector

The Minister of State for Mines and Steel Development, Hon. Abubakar Bwari, has challenged the banking sector to play a greater role in the nation’s mining industry.
He also disclosed that the world average percentage production of Zinc globally is 6%, while 42% of the mineral resource has been found in Bauchi state.
This, according to him, shows the huge potentials and opportunities of Nigeria in the sector.
The minister stated that the facts emerged from the outcome of his meeting in Australia with foreign investors, particularly those involved in the mining of zinc in Bauchi state.
He made the disclosures at the first edition of the Nigeria Metallurgical Industry Stakeholders’ Forum themed; “Nigeria’s Economic Growth: Industrial development through value addition in the metal sector”, yesterday in Abuja.
While lauding the federal government for paying adequate attention to the sector, the minister urged banks and other relevant bodies to seize the initiative and adequately fund the sector “Most of the investors in Diaspora had a major complaint on the issue of funding by our banks and investors within the country either due to lack of interest or lack of knowledge of this sector.
They are not ready to fund mining because they only know little or nothing about mining, and so as stakeholders, the ball is in our court to bring the sector into their minds and educate them on the challenges and advantages of mining.

UNI Agric Markurdi
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