FG to Approach NEXIM, BOI to Fund Mining

• FG to Approach NEXIM, BOI to Fund Mining

The Federal Government says it will soon approach key financial institutions including the Nigeria Export-Import Bank and the Bank of Industry to open new desks to oversee the funding of mining projects in the country.

The coordinator of the Mineral Sector Support for Economic Diversification Project in the Ministry of Mines and Steel Development, Mr Linus Adie, said this when the Group President and Chief Executive Officer of Netcom Africa Limited, Mr Sean Hsu, paid him a visit in Abuja on Thursday. Netcom Africa Limited is an international investment company in exploration and mining.

Adie said the ministry was intensifying efforts to attract exploration and mining investments into the mines and steel subsector in line with the Federal Government’s economic diversification agenda, according to a statement issued by the ministry in Abuja on Thursday.

He said that part of the drive to be embarked on by MINDIVER would be an aggressive sensitisation within the next three months to key investment agencies such as the NEXIM Bank and the Bank of Industry on the need to set up mining desks in their organisations for investors to take advantage of.

Adie said, “All the ministry and indeed the MINDIVER Project are thinking of now is how to attract investors into the mines and steel sector. Your coming is timely since you are willing to promote Nigeria’s endowment as an investor.

“There is no bigger opportunity than now because the government within the last four years has been very serious and determined to change the tide in accordance with its economic diversification agenda.”

He added, “There is on the ground a viable roadmap produced by a team of professionals with clear and sustainable strategies to be adhered to. This roadmap was also presented to the World Bank and the bank accepted it and at the moment financing some notable projects.”