We’ll Build on Mining Lessons Learnt in Nigeria – Tanzania

The United Republic of Tanzania says it will adopt the Nigerian method in growing and improving its mining sector.

Tanzanian Deputy Minister for Minerals, Dr. Steven Kiruswa made the statement while speaking with newsmen in Abuja at the conclusion of the Natural Resources and Energy Investment Summit. 

Kiruswa lauded the efforts of the Nigerian government on how it has over time managed its mining sector and for giving Artisanal Small Scale Miners the needed funds to run its operations. 

The minister added that with the intervention fund being provided for local miners, the Federal Government is on its way to achieving a profitable height in the mining industry. 

What I learnt from the summit is that the Nigerian government had put in place a framework and funds to support its local miners, this is encouraging and I want to commend the government.

He said the Tanzanian government will also encourage its banks to provide loans to local miners to encourage production that has yielded 30 percent for the country so far. 

Adding that in its efforts to keep up with its Corporate Social Responsibilities, Tanzania is also putting policies in place to ensure that mining investors make use of its countrymen as workforce, not foreigners. 

Kiruswa added that African countries have been at the mercy of foreign countries in terms of bye-products from raw materials and that Tanzania has determined that “no mineral leaves the country without value addition.” he submitted. 

However, Investors King gathered that the Mining and Quarrying sector’s contribution to the Real Gross Domestic Product (GDP) stands at 6.67 percent in the first quarter of 2022, showing a difference of 3.78 percent when compared to the last quarter of 2021 but -2.61 deficit when compared to the same quarter in the previous year with 9.28 percent.