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Fayemi: Solid minerals‘ll account for 10% of Nigeria’s GDP in 2019
- In NATIONAL
- November 15, 2015
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Dr. Kayode Fayemi
The Minister of Solid Minerals, Dr. Kayode Fayemi, has hinted that the All Progressives Congress (APC)-led Federal Government would ensure that solid minerals would account for about 10 percent of the nation‘s Gross Domestic Products (GDP).
According to him, as at now ,the sector only contributed about 0.06 percen to the GDP.
Speaking in Isan Ekiti Sunday, the Minister said that the country has good prospect in solid minerals sector, having 44 key minerals in about 350 spots across the 36 States of the federation.
The Minister said the poor management of the sector in the last 55 years of Nigeria’s Independence brought about its low contributions to the economy.
Fayemi disclosed that the solid minerals contributes 0.06% to the country’s Gross Domestic Products , stating that as much as he is not making a projection, that Buhari’s government is desirous of raising the benchmark to 5 -10% before 2019.
“President Buhari came into government with strong integrity. And we won’t allow the Integrity Quotient to reduce, so whoever perpetrating or illegality in the sector must start packing his load.
“We are ready to tackle the cartels in the sector and those who think they can continue will face the maximum wrath of the law.
“If you glean through what President Buhari said when he came into power, every comment is punctuated with preference for Solid minerals and Agriculture as areas of interest in his efforts to diversify the economy. So Mr President has put me in his area of interest and I thank him for reposing confidence in me.
“The Ministry is blessed with experts in Geophysics, Mineral Resources Management, Geology, Metallurgical and material Engineering, Mineral Engineering and other cognate fields.
“Though, I may not be an expert in Mineral resources management, but having superintended over every sector as a governor, I think I have the experience. The task is not even about expertise, but service. I should be able to work with these experts to bring about the needed
change in the sector.
change in the sector.
“Nigeria used to be centre of excellence in solid minerals, particularly in Tin and Coal since 1903, that was before the first World War. When petrol came, we abandon production of these two minerals, but we have come to realise our mistake.
“We have Coal in Enugu, Diamond in Nasarawa, Tin and Columbite in Plateau and many other States. There is no State without a mineral. So we have a lot of potentials to tap and this we shall achieve”, Fayemi vowed.
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