Association says multiple funding option will bounce back mining sector
NAN-HE-11
Funding
By Lucy Nwachukwu
Abuja Oct.21, 2016(NAN) The Miners Association of Nigeria (MAN) believes that a multiple funding option is necessary for the nation’s mining sector to bounce back.
President of the association Shehu Sani expressed the opinion at a News Agency of Nigeria (NAN) forum in Abuja.
“So for mining to bounce back, there must be a multiple funding option, there must be a multiple participation from international players because that was what happened in other countries.
“Once the funding is coming from different windows, the investors are coming from different countries, before you know it, Nigeria will regain her past mining glory.
“I am so happy that before now the Minister(of Mines and Steel Development) has said that the American exploration agency has expressed intention to assist Nigeria.”
He said with the new face being given to the sector, foreign investors would be attracted.
According to him, mining is an international business and miners can go to different parts of the world to mine.
“What government has done (approving N30 billion intervention fund) will attract them to come and some have taken the risk of coming over and our members have been in partnership with some of them.
“Some are from Canada, China, the UK; others are from even Africa; Ghana, miners have come here to see how we can work together to mine gold.
He commended President Muhammadu Buhari for improving the security situation in the country, saying it would help business to thrive.
“I traveled all over the world, Vietnam, Thailand, China, UK; I traveled a lot to see how we can woo these investors but they kept repeating the security issue which you can’t argue.
“But now they have started coming; right now, we have a team from China that is traveling round to find out what it can do and another team is coming from Ukraine.
“So even with the funding that the government is providing, it is going to be a welcome idea for the foreigners to come and assist Nigeria in the area of exploration.
NAN reports that a good number of mining investors are in the country at the moment and are already into different levels of partnership with members of the miners association (NAN)
LCN/IA
Edited by Idris Abdulrahman