The reforms in the mining sector aimed at maximising inter-agency collaboration, blocking revenue leakages, and sustaining the gains of economic diversification have led to an increase in the mining sector’s contribution to the GDP of the country.
In discussing the state of the sector concerning revenue generation, stakeholders agree that recent reforms, coupled with inter-agency collaboration have played key roles. “Apart from being Chairman of ACCI, I am an investor and I understand the sequence of developments that must lead to huge revenue generation in mining,” he stated.
According to analysts, the period of this investor boom conveniently accommodates the six years when the NGSA supervised the NIMEP Project that supported the Agency’s effort at mineral exploration leading to the achievement of a recorded geodata sourcing that was not achieved within the same timeframe in over 100 years existence of the NGSA.
While calling for more collaboration between the NGSA and the MCO, the former Director of the Registry said: “By its mandate, NGSA is not expected to generate revenue, rather, its mandate is to generate geo-science data on various minerals. Salau, who said the role of institutional synergy cannot be overemphasized, said its effect is best visible in the results produced by the NGSA-MCO synergy that led to a period of boom that must be sustained.
According to him, the resounding success of the National Integrated Mineral Exploration Project which was satisfactorily supervised by the Nigerian Geological Survey Agency , is an effort that should have been continued. Founder and Chief Executive Officer, Women In Mining In Nigeria , Engr. Janet Adeyemi commended the Federal Government for recent efforts made by the Nigerian Geological Survey Agency to provide geoscience data on minerals in Nigeria.
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