Ministry of Mines generates over N9bn in 34 months

The Ministry of Mines and Steel Development has generated more than N9 billion from November 2015 till date. Alhaji Abubakar Bwari, the Minister of State disclosed this in an interview on Monday in Abuja.

Bwari said that the ministry generated N351,882,084.26 from November to December in 2015, N2,864,903,426.32 in 2016, N3,925,028,183.90 in 2017 and N2,060,441,736. 62 in 2018. “When Dr Kayode Fayemi and I assumed duty in November 2015, we set an agenda to move the sector forward in line with President Muhammadu Buhari’s diversification plan and to boost the revenue of the ministry,” he said.

On success made by the sector through its budgetary allocation, he said that tremendous improvement had been recorded by the sector in the past two years. “We can now give our officers money to monitor activities at all mine sites across the country from our budget, unlike in the past when the ministry’s budget was grossly inadequate,” he said.

On the N30 billion mining intervention fund approved by the Federal Executive Council (FEC) in November 2016 for mining exploration, he said the sector has been able to access N15 billion from the fund. According to him, the ministry is expecting a release of five billion naira from the remaining balance from the N30 billion soon.

Source: The Guardian

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