…Will collaborate with China Geological Surveys on mapping programme
27 December 2017, Sweetcrude, Abuja – The Federal Government will produce “a comprehensive bankable data” of the mineral endowments across the country in 2018, Minister of Mines and Steel Development, Dr. Kayode Fayemi, has assured.
The minister, who stated this in Abuja, said the government considered this a very important part of its work in 2018.
Fayemi revealed that to achieve the target, the government would collaborate with the China Geological Surveys to conduct an extensive geochemical mapping programme across the country.
He also said the ministry would undertake extensive electromagnetic airborne geophysical survey of promising parts of the country “to capture and provide analysis of the geology of Nigeria, and the mineralisation of the areas covered”.
“We are also working towards the completion of the equipping of the NGRL (National Geosciences Research Laboratories in Kaduna) as well as the completion of our national mineral database, and will, in collaboration with the China Geological Surveys conduct an extensive geochemical mapping programme across the country.
“The aim is to work with competent consultants to deploy logistical and technical equipment with radiometric, magnetic, electromagnetic and allied capabilities, to capture and provide analysis of the geology of Nigeria and the mineralisation of the areas covered.
“We consider this a very important part of our work in 2018, to deliver a comprehensive bankable data of our mineral endowments across the country,” the minister said.
He stated that in line with the ‘Roadmap’ for the sector approved in August 2016, the ministry’s aspiration remained to “build a world-class minerals and mining ecosystem designed to serve a targeted domestic and export market for Nigeria minerals and ores.”
According to Fayemi, the year 2017 had been very eventful, adding that the ministry exertions were centred on advancing the reforms that began in 2016, in line with the Federal Government’s dream of diversifying the economy through the mining sector.
He disclosed that the mining and minerals sector contributed N3.5 billion to the national treasury in 2017 and that it grew by 2.24 percent, emphasising the determination of the government to sustain the growth.
The minister, who hinted of government’s drive to grow the contribution of the sector to the nation’s Gross Domestic Product, GDP, from N103 billion in 2015 to N141 billion in 2020, said: “In 2017, the ministry featured in the story of our journey to economic recovery and consolidation.
“The National Bureau of Statistics indicated that the economy grew by 0.55 percent.
“The improved performance was not only (from) the Oil and Gas sector but other economic activities like mining; the sector grew by 2.24 percent.”
He said his ministry would sustain the growth trajectory achieved in the sector by stimulating new exploration activities, increased production from active mining, functional (and expanded) processing and refining capacity.
“The net outcome will be the creation of thousands of direct jobs and potentially hundreds of thousands of indirect jobs,” he stated.