FG, lawmakers in serious differences that may make or mar the soul of ASC
Barely one week after the Speaker of the House of Representatives, Hon. Yakubu Dogara and some members toured the moribund Ajaokuta Steel Complex (ASC) in Kogi State and averred every effort must be made by government to revive it, the…
Long absence of Solid Minerals Regulatory Commission fueled illegal mining—BHIU
New report published by Business Hilights Intelligence Unit (BHIU), the investigative arm of Business Hilights Media group, has revealed that the absence of a federal Commission charged with regulatory activities in the nation’s mining sector is responsible for exponential growth…
Why FG ceded controlling shares of ALSCON to Russian firm, UC Rusal
More facts have emerged on why the federal government gave official recognition to Messrs UC Rusal, a Russian company, as the core investor in the Aluminium Smelter Company of Nigeria (ALSCON), Ikot Abasi, Akwa Ibom State. Government considered UC Rusal…
S’Minerals fail 2017 revenue target, contributes paltry N3.5bn to Federation Account
Upon over N150bn federal budgetary allocation to the Ministry of Solid Minerals to drive sector capacity growth, the sector only managed to inject N3.5bn to the Federation Account between January and November 2017. Making the revelation in Abuja, the Minister…
‘N20bn for solid minerals exploration in 2018, a strong step towards diversification’
The revelation that the Federal Government has earmarked N20bn for exploration activities in the solid minerals sector in 2018 has been welcomed by industry stakeholders, saying this is the first ever strong move made in the resuscitation of the sector…
FG inspects Gold mining sites, sets aside N5bn for artisan miners
For the first time in the history of the federal Ministry of Mines and Mineral Resources, a serving Minister, on Saturday inspected just one of the gold mining sites filled with artisan miners. The minister, Dr. Kayode Fayemi inspected the…
$9bn loss to activities of illegal miners, an indictment on Ministry—Expert
The recent revelation by the Minister of Mines and Steel Development, Dr. Kayode Fayemi, at the end of a meeting of the Federal Executive Council (FEC), presided over by President Muhammadu Buhari on Wednesday, that government lost $9bn between 2014…
Confusion still rages on fate of Ajaokuta Steel Complex
Contrary to claims by the Federal Government that it will soon take decision on what happens to the Ajaokuta Steel Complex, there are serious indications that the matter surrounding the re-concessioning, may linger till next year. Whereas a director of…
FG yields to pressure, awards oil block license to Ondo for bitumen exploration
The Federal Government on Tuesday announced the award of an oil block license to Ondo State Government for bitumen exploration. According to the Minister of Mines and Steels Development, Dr. Kayode Fayemi who made this known at the 1st Ondo…
Why Fayemi’s ministry may not meet set targets of $27bn to GDP by 2025
Contrary to a new document unveiled by the Federal Ministry of Solid Minerals, showing that it will make the sector pump in about $27bn to the gross Domestic product (GDP) come 2025, leading analyst in the sector, Dr. Ibrahim Audu…
