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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 has described the claims as mere political gimmick to trick Nigerians.

Audu said “yes the sector has all it takes to even contribute more than that if well harnessed, but the government since 2015 it came on board has not demonstrated the political will to even drive the tall order”.

“These things do not work like that. It is not a matter of executive order or ministerial documents or pronouncements.

“When we that are in the field hear such comments from government officials, we got even more confused. Now the question is how he is going to do that.

“Has the ministry taken any reliable inventory of all solid minerals, their locations and determined their commercial quantities?

“Is the ministry aware of who have been mining these minerals and how they have been doing things with their respective states’ governments? How many states are aware of minerals that should only be mined by federal government and those they can control?

“What about the issue of resource control and the issue of pollution and use of sub standard mining technologies?

Audu revealed that “more than two years of the minister on seat, locals are still using Lead, an outdated chemical to mine gold in Zamfara upon the dangers and nothing is being done. Has he gone to see several gold mining sites in Zamfara before coming up with the document?

“How was the $150m given for solid minerals development since December last year? How was it shared/ Is it among real mining concerns or among who?

“We recently celebrated the official export of yams at Apapa Port, why have we not been able to celebrate the official exportation of mined raw gold or other solid minerals or are there not mining activities still going on in parts of the country or are there companies where they are being processed we do not know?

According to him, “there a lot of issue the Minister is not letting Nigerians and core mining stakeholders to know about his activities in the industry”.

“If the Minister said the first phase is to stabilise the sector, what he stabilizing in the sector and with who? Is it possible to stabilize the mining industry seating at Abuja and not knowing what and who is where doing one mining activity or the other?

In conclusion, Audu averred that “The ministry just wants to say something for Nigerians and the whole world to hear and believe that he is working”.

According to the roadmap document which the Ministry prepared in phases, first phase will be to

stabilise the sector and rebuild the country’s market confidence between 2016 and 2018.

The Minister, Dr. kayode Fayemi said the second phase will focus on establishing Nigeria as a competitive African mining and mineral processing centre from 2016 to 2020 and added that “the third phase would will enable Nigeria compete in the global market for refined metals and minerals from 2018 to 2030 in addition to selected ore exportation”.

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