{"id":46824,"date":"2022-11-28T00:41:27","date_gmt":"2022-11-28T00:41:27","guid":{"rendered":"https:\/\/thefreezonechannel.com\/?p=46824"},"modified":"2022-11-28T00:41:32","modified_gmt":"2022-11-28T00:41:32","slug":"minister-commends-buhari-for-repositioning-mines-and-steel-sector","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/minister-commends-buhari-for-repositioning-mines-and-steel-sector\/","title":{"rendered":"Minister commends Buhari for repositioning Mines and Steel sector"},"content":{"rendered":"<p>The Minister of Mines and Steel Development,&nbsp; Mr Olamilekan Adegbite has commended President Muhammadu Buhari for extra budgetary provision to help reposition the mines and steel industry.<\/p>\n\n\n\n<p>He said the president also attracted a World Bank grant to the sector,&nbsp; adding that it was a giant stride toward revamping the industry.<\/p>\n\n\n\n<p>\u201cPresident Muhammadu Buhari is the only president that has provided extra budgetary funding&nbsp; for the sector.<\/p>\n\n\n\n<p>\u201cHe did this in two ways. He gave N30 billion which at that time in 2017 was a 100 million dollars.<\/p>\n\n\n\n<p>\u201cNot just that,&nbsp; he&nbsp; also supported the sector through a World Bank facility&nbsp; with 150 million dollars, which is a total of 250 million dollars,\u201d he said.<\/p>\n\n\n\n<p>Adegbite said the funds were put to good use, adding that one of such was the National Integrated Mineral Exploration&nbsp; Project (NIMEP).<\/p>\n\n\n\n<p>According to him, the project helps to provide verifiable data that has put the sector on another pedestal.<\/p>\n\n\n\n<p>He said with the various interventions of government&nbsp; people were beginning to reckon with Nigeria as a mining destination.<\/p>\n\n\n\n<p>The minister said a lot of foreign investment was coming into the mining space, thereby, creating jobs and wealth for the people.<\/p>\n\n\n\n<p>On why the sector had not reached its full potential in spite of the huge mineral deposits in the country,&nbsp; Adegbite said reliance on oil and gas was largely responsible.<\/p>\n\n\n\n<p>He, however, said the diversification drive of the present administration was reversing all of that.<\/p>\n\n\n\n<p>\u2018The diversification work by this administration started in earnest from 2015, but I must say that since I came on board in 2019, we have done so much more.<\/p>\n\n\n\n<p>\u201cWe have been able to create the right awareness by proclaimimg that Nigeria has joined the league of mining nations,\u201d he said.<\/p>\n\n\n\n<p>The minister assured Nigerians of government\u2019s continued commitment to revamping the sector.<\/p>\n\n<!--themify_builder_content-->\n<div id=\"themify_builder_content-46824\" data-postid=\"46824\" class=\"themify_builder_content themify_builder_content-46824 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->","protected":false},"excerpt":{"rendered":"<p>The Minister of Mines and Steel Development,&nbsp; Mr Olamilekan Adegbite has commended President Muhammadu Buhari for extra budgetary provision to help reposition the mines and steel industry. He said the president also attracted a World Bank grant to the sector,&nbsp; adding that it was a giant stride toward revamping the industry. \u201cPresident Muhammadu Buhari is [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":22860,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[949,235],"tags":[337],"class_list":["post-46824","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-resources","tag-steel","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Minister commends Buhari for repositioning Mines and Steel sector - The Freezone Channel<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thefreezonechannel.com\/old\/minister-commends-buhari-for-repositioning-mines-and-steel-sector\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Minister commends Buhari for repositioning Mines and Steel sector - The Freezone Channel\" \/>\n<meta property=\"og:description\" content=\"The Minister of Mines and Steel Development,&nbsp; Mr Olamilekan Adegbite has commended President Muhammadu Buhari for extra budgetary provision to help reposition the mines and steel industry. 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