The World Bank has concluded a deal with the Federal Government to invest $123.5 million in the exploration of industrial minerals in Nigeria.The Consultant, Vitor Carrieia, disclosed yesterday in Abuja while unveiling the Industrial Minerals Roadmap that the document has a five-year implementation period.

He stated that there was no need for Nigerians to import these minerals, adding that they would explore areas to use them as well as support the drive to project them in the country.

“We need geosciences data and legal framework to enable us work towards actualising the plan for Nigeria. This would make the government to diversify its economy,” Carrieia added.

In his remarks, the Minister of State for Mines and Steel Development, Abubakar Bwari, noted that the global financial body developed the document with a wide range of applications.He explained that they would be used in a variety of industries such as manufacturing, construction, agriculture, adding that it would facilitate inter-sector linkages and import substitution.

He said: “In 2016,we launched a roadmap that seeks to build a world class minerals and mining ecosystem. This will serve targeted domestic and export markets as well as winning over domestic users.”

According to him, government’s desire is to implement strategies that could bridge up the gap of the 626,921 yearly tonnes that currently exist in local production, but being addressed with an importation cost of $44.5 million.The minister added that industrial minerals exist here, which could be developed and exploited to fill the lapse for export to attract foreign exchange earnings to the country.

https://www.akelicious.net/2018/09/world-bank-commits-124m-to-exploration.html

World bank shld hold their money first ooo until afta d elections or else it would go into exploring re-election campaign or d unending search for oil in d north

I thought some people's stupidity only reveals itself in the afternoon

It seems it's around the clock for some other people , smh

Nbote:
World bank shld hold their money first ooo until afta d elections or else it would go into exploring re-election campaign or d unending search for oil in d north

Everything should stand still because of your dirty , senseless impression that money will be used to campaign , the writeup even said it has a 5 year implementation period and also when the write-up said world bank will invest that amount for exploration of industrial materials

it means , satellite mapping , soil tests , creating a database and grouping the said minerals and maybe exploration, the money is not going to FG or anybody in Nigeria


People should learn to wake up with their brains

Hmmm....

$124 million commitment by the world bank. What are the terms of this loan (commitment) and what does the world bank stand to gain?

Is $124 million such a huge sum that our Governments, both Federal and States are so broke to have been able to finance?

Was there no Nigerian individual from our retinue of billionaires I often read about here on a daily that could advance the FG that sum, while he/she enjoys the benefits that'd be accruable to this individual? Talk about growing Nigeria.

If the world banks commitment involves technical and professional expertise on the said project, are we really a nation of dullards having no one with such technical acumen?

I make bold to say that a minister in Buhari's cabinet will confidently advance the FG this sum without any much hassles.

They keep signing and counter-signing. My only hope is that they don't sign away the country and her resources for a paltry sum without having a clue.

Mumus in govt.

Enjoy my siggy

Nbote:
World bank shld hold their money first ooo until afta d elections or else it would go into exploring re-election campaign or d unending search for oil in d north

Ignorance.
That's not how world bank works. You can't steal. U work and then the reimburse u. Money is only released for specific completion of projects

Besides this isn't PDP regime where anything goes

RevenGeMission:
I thought some people's stupidity only reveals itself in the afternoon

It seems it's around the clock for some other people , smh


Everything should stand still because of your dirty , senseless impression that money will be used to campaign , the writeup even said it has a 5 year implementation period and also when the write-up said world bank will invest that amount for exploration of industrial materials

it means , satellite mapping , soil tests , creating a database and grouping the said minerals and maybe exploration, the money is not going to FG or anybody in Nigeria


People should learn to wake up with their brains

https://www.icirnigeria.org/10-months-after-launch-n732-million-nigerias-solid-minerals-web-portal-is-deficient/

https://www.icirnigeria.org/fec-approves-n30-billion-fund-mining-sector/

blackpanda:


Ignorance.
That's not how world bank works. You can't steal. U work and then the reimburse u. Money is only released for specific completion of projects

Besides this isn't PDP regime where anything goes

No dis isn't PDP where anything goes, dis is worse...

So what's your point ? the first link you shared did not say the web portal was not built, it said it's deficient and according to the link you shared Power flunctuations is affecting the servers where it's located

Second link explained in details that 30B is being used to develop rail sector that'll facilitate delivery / transport of explored minerals to various destinations , about 15 rail guages / paths were mentioned and i am sure you know work is on going on each of them

So if you think you made a point, you didn't , i insist world bank is not sending the money to anyone

Nbote:


https://www.icirnigeria.org/10-months-after-launch-n732-million-nigerias-solid-minerals-web-portal-is-deficient/

https://www.icirnigeria.org/fec-approves-n30-billion-fund-mining-sector/



No dis isn't PDP where anything goes, dis is worse...

RevenGeMission:
So what's your point ? the first link you shared did not say the web portal was not built, it said it's deficient and according to the link you shared Power flunctuations is affecting the servers where it's located

Second link explained in details that 30B is being used to develop rail sector that'll facilitate delivery / transport of explored minerals to various destinations , about 15 rail guages / paths were mentioned and i am sure you know work is on going on each of them

So if you think you made a point, you didn't , i insist world bank is not sending the money to anyone

Lolzzz, Power fluctuations affecting d portal of d ministry for over 10months now?? Are u for real?? It is either U actually can't read and understand or U have issues with ur sight so lemme help U...

The money, which will be accessed from the Natural Resource Development Fund will be used primarily for Exploration activities.
“In recognition of Mr. President’s campaigns promises to Nigerians and in particular his consistent statement to diversification particularly in agriculture and mining sector, Council ratified the approval of N30 billion intervention fund for the mining sector,” Fayemi told journalists.
He added that the fund “will be highly focused on exploration. Exploration is the heart of mining; if you don’t search you won’t find.”
“You have heard all sorts of talks about how rich Nigeria is in mineral resources but the quantity, quality, and the geological prospect has been a challenge because we have neglected the sector for such a long time.” He said.

servers not portal , put your glasses on

Nbote:


Lolzzz, Power fluctuations affecting d portal of d ministry for over 10months now?? Are u for real?? It is either U actually can't read and understand or U have issues with ur sight so lemme help U...

RevenGeMission:
servers not portal , put your glasses on

U are obviously dumber than I gave U credit for... U obviously have no idea what servers are or how a portal works