News

Banks to set up solid minerals desks, Fayemi discloses

Published

10 years ago

January 13, 2016

Minister for Solid Minerals Development, Mr. Kayode Fayemi, has said that many Nigerian banks will set up solid minerals desks before the end of this year.

Fayemi announced this while receiving the President of the Nigerian Mining and Geo-sciences Society (NMGS) , Prof. Gbenga Okunlola, on Tuesday in Abuja.

He said the proposed desks would assist the sector as investors would have access to funds and professional counseling.

The Minister said the banks’ Chief Executives had assured to collaborate with the ministry to set up solid minerals desks.

He urged the NMGS leadership to avail the sector with experts to move it forward, strengthening and capacity building.

“It is no longer business as usual. We will implement the Nigerian Mining and Minerals Act (2007) to the letter,” he said.

Earlier, Prof Okunlola pledged that the NMGS would support the two ministers to realise President Muhammadu Buhari’s plan to diversify the economy and create jobs through solid minerals.

According to him, the society is convinced that the ministers will bring the desired turn around to the sector based on their wealth of experience.

The society commended the ministers for the plan to set up such desks.