Minister for Mines and Steel Laments Non Support From CBN


Dr. Uche Ogah, Minister of state, Mines and Steel Development has on Monday lamented how Central Bank of Nigeria, CBN is not supporting the mines and mineral development sector.

“It is unfortunate that the Central Bank of Nigeria did not believe in us.

“If they believe in us, if they support us the way they are supporting agriculture, we will do wonders for this country.

“This is one ministry that is untaped, that is unknown, that can change the landscape of our revenue,” he lamented.

The lamentation came at a two-day public hearing organised by the Senate Committee on Solid Minerals, Mines, Steel Development and Metallurgy.

The panel investigates loss of $9bn annually as a result of illegal mining and smuggling of gold in Nigeria. 

The event forum was projected at getting inputs from various stakeholders to the contents of four bills on how to achieve rapid development of the solid minerals sector.

The bills include; Nigerian Minerals Development Corporation Establishment Bill 2021, Solid Minerals Producing Areas Development Commission Establishment Bill 2021, Institute of Bitumen Management Establishment Bill 2021, and the Explosive Act 1964 Repeal and Re-enactment Bill 2021.