The Miners Association of Nigeria has decried the lack of adequate funding in the mining sector, stating that the Federal Government has failed to effectively implement over N11.2bn intervention funds for the mining sector
The Acting National President of MAN, Musa Muhammad, said this in Abuja on Wednesday at a press briefing.
In his speech, he said, “the Federal Government through the CBN, NEXIM bank, BOI and other financial institutions in Nigeria have announced one intervention or the other for the Nigerian mining sector in the last decade without trace of implementation.”
He went on to mention three established funds, which included N5bn BOI intervention fund for artisanal and small-scale miners, N6bn post-COVID-19 intervention fund, and N200m small-scale miners fund.
The acting National MAN President said that this lack of intervention fund was adversely affecting artisanal and small-scale miners who managed 90 per cent of mining activities in Nigeria.
Muhammad urged the Federal Government to accord the solid minerals sector similar attention and funding models similar to those in the agricultural sector.