FG, WORLD BANK COLLABORATING TO REVIEW NIGERIA’S PRIVATISED MINING ENTERPRISES -- FAYEMI

The Minister of Solid Minerals Development, Dr Kayode Fayemi, says the World Bank is working closely with the Federal Government to review the country’s privatised mining enterprises.

Fayemi, who made this known in an interview with Newsmen said the collaboration was with a view to making the privatised enterprises functional.

He said the bank would also help Nigeria exploit its minerals to achieve its planned diversification of the economy.

Fayemi said the ministry had developed a road map, according to the diversification task given to it by the Federal Government.

He said the road map for the sector stated the vision, focus and the strategies that could be used to grow the solid minerals sector.

The minister said the committee set up to produce the road map came up with a robust document, which outlined priority areas and how to mine in commercial quantity.

Fayemi said mining was about exploration, adding: ``you can say you have 200 minerals; it doesn’t mean much, if you cannot dig it and produce it commercially.’’