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Cabinet approves N12.7bn for solid minerals exploration

 

The Federal Executive Council has approved the sum of N12.7 billion for the exploration of some targeted minerals by the Ministry of Mines and Steel Development.

Minister of State for Mines, Abubakar Bawa Bwari revealed this to State House Correspondents, on decisions reached at Wednesday’s cabinet meeting, presided over by President Muhammmadu Buhari.

He said: “Our major challenge concerning the diversification programme of the Nigerian government in the mining sector has been that of data and today the Federal Executive Council approved contracts for exploration and consultancy on some of our targeted minerals like gold, industrial minerals, rare earth metals, iron ore, etc, for four companies to handle the exploration aspect and four other companies to serve as consultants. The contract is worth N12.7 billion.”

Bwari said the move will help the country achieve more in the mining sector and also encourage both local and foreign investors in the sector.

With this, we will encourage both local and foreign investors to come in.

“One of our challenges is the bankable data. most mining companies will not want to come into your country when they are not sure of what they are going to meet.

“Nigeria has the potential for minerals although we have not been known as a solid mineral destination, we have been known as an oil and gas destination. 

The perception is gradually changing and for us to really encourage this people to come in, we really need to explore because you cannot mine without information and information can only be gotten through exploration. The government today approved for us to start with some of our targeted minerals in line with what we have in the road map,” he said.

2nd Niger Bridge

Minister of Information and Culture, Lai Mohammed, who also briefed journalists on behalf of the Minister of Power, Works and Housing, Babatunde Fashola, revealed that N206 billion was approved for the link road for the 2ndNiger Bridge, which links Anambra and Delta States.

“Council today approved a contract for the link road and associated infrastructure, for the 2nd Niger Bridge.

The bridge itself is just 1.95 meters but the link road is about 11.9 kilometres and the contract was awarded for the sum of N206 billion,” he said.

He added that the sum of N11.5 billion was also approved for the rehabilitation of some federal roads in Enugu State, South-East Nigeria.

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