The World Bank has made a pledge to support the Nigerian Export-Import Bank (NEXIM Bank) in an effort to accelerate progress in the Nigerian mining sector.
This was made known during a visit with Senior Mining Specialist, Energy & Extractives Unit, Dr. Francisco Igualada and the Managing Director, NEXIM Bank, Mr. Roberts Ungwaga Orya in Abuja. He stated that the Head of the World Bank wondered why Nigeria was earning less from mining compared to Mali, Burkina Faso and Ghana. The country’s focus on oil and gas was cited as a major cause for this predicament, to which he pointed out the mining sector as an enabler for manufacturing, services and other sectors.
In addition, it was mentioned that the World Bank has a Public Private Partnership (PPP) arrangement that could be used by Nigeria for the development of the solid minerals sector in its territory. There is a need to revamp efforts at developing the sector, he stressed, through arrangements such as the Solid Minerals Fund.
Source: The Nation
