On Tuesday, the World Bank and the Federal Government, via the Ministry of Solid Minerals Development, reaffirmed their commitment to working together to secure funding and technical assistance for the mining industry’s growth.
Shubham Chaudhuri, the Country Director of the World Bank for Nigeria, expressed his satisfaction with the Tinubu administration’s renewed focus on the development of mineral resources during a courtesy visit to the Minister of Solid Minerals Development, Dr. Dele Alake. He noted that the sector has the potential to significantly contribute to the country’s GDP due to the preponderance of economically viable minerals.
Chaudhuri reaffirmed the bank’s willingness to work with the government to release cash for certain intervention areas that need it, underlining that the bank will make sure projects are carried out effectively and that using funds transparently is a must.
He continued by saying that the bank was not limited to just lending money; it could also offer technical support to enhance the nation’s mining industry.
In a statement, Alake’s Special Assistant on Media, Segun Tomori, praised the World Bank for leading development initiatives across several economic sectors and praised the team for their visit.
The World Bank has been successful in refocusing attention on projects and concerns related to national development, particularly in Nigeria. The World Bank has just lately endorsed the use of palliatives following the elimination of gasoline subsidies. The World Bank provided us with valuable assistance.
“I express my gratitude for your participation in the mining diver project, which regrettably is coming to an end. The minister was cited as saying, “We look forward to strengthening collaboration, which will culminate in the needed funding for critical areas in the mining sector, alongside the requisite technical support.”
The minister provided insight into his outlook for the mining industry by stating that work was being done to safeguard the mining environment and create effective governance mechanisms.
Alake also reaffirmed the federal government’s pledge to support mining activities and guarantee the greatest possible advantages to host communities.
