The President of the Nigerian Mining and Geosciences Society (NMGS), Professor Silas Dada has revealed how President Muhammadu Buhari revived and rejuvenated the Nigeria mining sector after years of neglect by the previous governments.
Professor Dada, who spoke today, Thursday, when he led his executive members on a courtesy visit to the President, emphasized that the Buhari government “revitalized and rejuvenated” the mining sector in the country, from its “moribund and chaotic state, following years of neglect and abandonment.”
He expressed said that President Buhari is the first Nigerian leader to be conferred with the Society’s Grand Patronship in person, shortly after conferring the laurel on the President who now becomes Grand Patron of the NMGS.
This was even as the President said that the federal government’s key policy objective of rejuvenating the mining sector is being realized, as witnessed by the diversification of the economy and broadening of the country’s revenue base.
The President expressed delight with the ongoing formalization of illegal mining as a way of curbing its implications on national security, revenue generation, the environment, health and safety of the citizens.
He said that his administration has been vindicated in its assumption that the nation’s endowment in mineral resources, the mining and solid minerals sector has the potential to create employment, increase revenue and reduce poverty.
Buhari attributed the successes recorded so far to the Federal Government’s policy of increasing budgetary allocation to the Ministry of Mines and Steel Development; formalization of illegal mining; approval of funds from the Natural Resources Development Fund to support small miners; enhancing capacity and human capital development.
The President said that the strengthening of the regulatory framework, enhanced transparency in the licensing process, and the ease of doing business played significant roles in the achievements recorded in the mining sector.
He pledged continued government support to the sector.