Sam Ikeotuonye
Abuja – President Muhammadu Buhari has commended the Minister of Finance, Budget, and National Planning, Zainab Ahmed, and the Central Bank of Nigeria, CBN, governor, Godwin Emefiele, for their support of the Solid Minerals Development Fund aimed at providing financing for artisanal and low-income miners.
He made the commendation as he spoke on Wednesday during a briefing by the steering committee and management team of the Presidential Artisanal Gold Mining Development Initiative, PAGMI, at the State House in Abuja,
A statement by Special Adviser to the President on Media and Publicity, Femi Adesina, quoted the president as saying that through the financial intervention, the Federal Government had been able to reach hardworking Nigerians in the field, toiling at the quarries under the sun to earn an honest living. “I want to commend the Central Bank Governor for his support of the Solid Minerals Development Fund in the delivery of PAGMI, particularly in the commitment to paying a fair price to support the artisanal miners and providing a market for PAGMI. The Honourable Minister of Finance, Budget, and National Planning is to be commended also for her support in increasing the capitalisation of PAGMI through the already approved facility,” the president said.
He added: “This initiative is of great pride to me because through our intervention we can reach hardworking Nigerians in the field, toiling at the quarries under the sun trying to earn an honest living.
“We have been able to protect them from clutches of those who exploit their hard labor, while simultaneously bringing them into the value chain to earn improved income from their hard work. I expect a six-month progress report that will clearly show significant progress by scaling up the programme from its current pilot stage.”
Speaking on the need for stakeholders to conclude ongoing assignment of recommending a portion of accruals to be dedicated to the Solid Minerals Development Fund, President Buhari said: “The dedication of a portion of accruals to create a sustainable income stream for the Solid Minerals Development Fund is essential to delivering the mandates assigned to the Fund.
“The development of a sustainable funding stream for the Fund will conclude the implementation of the Fund’s Establishment Act, which is a key focus area for this Administration.
“This initiative is of great pride to me because through our intervention we can reach hardworking Nigerians in the field, toiling and the quarries under the sun trying to earn an honest living.
“We have been able to protect them from clutches of those who exploit their hard labor, while simultaneously bringing them into the value chain to earn improved income from their hard work. I expect a six-month progress report that will clearly show significant progress by scaling up the program from its current pilot stage.”
The Presidential Artisanal Gold Mining Development Initiative Steering Committee has the Chief of Staff to the President , Prof Ibrahim Gambari, as Chairman and the Executive Governor of Kebbi State, Sen. Abubakar Atiku Bagudu as Vice-Chairman.
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