FG To Governors: Establish Mining Companies To Improve Revenue

The Minister of Mines and Steel Development, Olamilekan Adegbite
has advised governors across the 36 states of the federation to set
up mining companies in order to benefit from the multi-billion
dollars investment opportunities that is available in the
sector.

Adegbite said this in Ilorin, the Kwara State capital while
briefing newsmen on the activities of the federal government team
that visited the state ahead of the commencement of the Airborne
Geophysical Survey exercise scheduled for Monday.

The minister who was represented by the Director-General,
Nigeria Geophysical Survey Agency (NGSA), Dr Abdulrazaq Garba said
the move will further serve as a major revenue booster for states
and play a key part in the diversification of their economies in an
era of dwindling resources.

According to him, governors should take advantage of the federal
government renewed drive to diversify through the mining
sector.

He said: “The best way state governments can actualise their
dreams through mining is to set up Special Purpose Vehicle
(SPV).

“This will enable them to take up licences through which they
can float mining companies. It will also afford them the
opportunity to partner with other mining companies.”

The Minister of Mines and Steel Development, Olamilekan Adegbite
has advised governors across the 36 states of the federation to set
up mining companies in order to benefit from the multi-billion
dollars investment opportunities that is available in the
sector.

Adegbite said this in Ilorin, the Kwara State capital while
briefing newsmen on the activities of the federal government team
that visited the state ahead of the commencement of the Airborne
Geophysical Survey exercise scheduled for Monday.

The minister who was represented by the Director-General,
Nigeria Geophysical Survey Agency (NGSA), Dr Abdulrazaq Garba said
the move will further serve as a major revenue booster for states
and play a key part in the diversification of their economies in an
era of dwindling resources.

According to him, governors should take advantage of the federal
government renewed drive to diversify through the mining
sector.

He said: “The best way state governments can actualise their
dreams through mining is to set up Special Purpose Vehicle
(SPV).

“This will enable them to take up licences through which they
can float mining companies. It will also afford them the
opportunity to partner with other mining companies.”