Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Govt to earn more revenue from minerals this year – Fayemi

    Govt to earn more revenue from minerals this year – Fayemi

    September 20, 2017
    Share
    Facebook Twitter LinkedIn WhatsApp
    Dr. Fayemi

    Oscarline Onwuemenyi 20 September 2017, Sweetcrude, Abuja – The Federal Government will earn more revenue from solid minerals this year than in 2016.

    Minister of Fayemi, who revealed this, said that earnings from the sources has as at July surpassed the revenue for the entire 2016.

    He said over N2 billion had already been generated from operations in the mining and minerals sector, as at July, which surpassed the entire revenue of N2 billion generated for the whole of 2016.

    Fayemi made this known in his keynote address at the maiden edition of the National Council on Mining and Mineral Resources Development, NCMMRD, in Abuja.

    He stated that the aspiration of his ministry was to build a world class minerals and mining ecosystem designed to serve a targeted domestic and export market for minerals and ores.

    He said, “We seek to rebuild market confidence in our minerals and mining sector and win over domestic users of industrial minerals in order to achieve import substitution.”

    The minister said his ministry has covered a major milestone in the implementation of the Roadmap for mining and minerals sector, and at the same time set in motion a chain of positive outcomes, saying he remain focused on working with stakeholders to deliver on all other provisions of the Roadmap.

    Fayemi noted that with the successful hosting of the inaugural edition of the NCMMRD, the government expected a robust institutional and governance framework that provided adequate oversight and guidance, as well as stronger participation and shared responsibility from the states and communities.

    Other expectations by government, he said, include “a wider spectrum of vibrant participants across the entire value chain and a solid archive; database of geo-sciences research and data that actively encourages investor participation; a thriving enabling environment that provides the key support infrastructure and services that enables the industry to flourish.”

    According to the minister, “We are working to attract a diverse portfolio of participants, from artisanal miners, to junior explorers, to mining majors, into the industry. Our goal is to build a sector that is competitive and supportive of our overall job creation and wealth generation aspirations for Nigerians”.

    Related News

    Troops uncover 15km oil theft pipeline in Rivers state

    ‘Africa must control clean energy future, not just supply raw minerals’

    Nigeria moves to dominate Africa’s trade, inaugurates MSME committee

    E-book
    Resilience Exhibition

    Latest News

    InterContinental Energy’s P2(H2) Node™ system cuts green hydrogen costs

    May 12, 2025

    Rivers women demand urgent action against sea piracy

    May 12, 2025

    Troops uncover 15km oil theft pipeline in Rivers state

    May 12, 2025

    ‘Africa must control clean energy future, not just supply raw minerals’

    May 12, 2025

    Nigeria moves to dominate Africa’s trade, inaugurates MSME committee

    May 12, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.