APA Abuja (Nigeria) The Ministry of Mines and Steel Development averred that it has obtained US$80 million grant from the World Bank (WB) for artisanal and small scale miners for the full scale development of the sector, APA learnt on Wednesday.
The Minister of Mines and Steel Development, Mr Muhammad Sada, who received a World Bank team, said the grant was an additional finance to ease the implementation of some projects in the sector.
According to Sada, this will build a solid base for the ministry to manage the sector in capacity building and professional development.
"No investor will want to put his money where it cannot yield. With this grant, projects will be enhanced and efficient for economic development,’’ he said.
The Nigerian minister added that the Federal Government would assist small-scale miners in the development of the sector for the overall development of the nation.
Ms Ekaterina Mikhaylova, WB Senior Mining Specialist from the U.S., said the grant was to empower, improve and woo investors in Nigeria.
"Nigeria geographical data was to be seen as the best in Africa, with its many mineral resources, there is the need for assistance for what will yield and help globally,’’ she said.
Mikhaylova said that the grants would be issued between June and July, but it would not be used to fund government enterprises
MM/ad/APA
2011-02-02
