The Minister of State for Mines and Steel Development, Dr. Uche Ogah, has said the Federal Government had reinforced efforts at diversifying sources of revenue in order to reposition the economy after the COVID-19 pandemic.
A statement from the MMSD said Ogah spoke at a webinar conference tagged “Nigeria in the Age of COVID-19”.
The minister said the government was looking at ways to boost the economy and grow the country’s Gross Domestic Product in spite of the decline in oil revenue.
Ogah, who was represented by his Chief of Staff, Kelechi Ekugo, disclosed that the Federal Government was determined to actualize plans to diversify the economy by harnessing the potential of the mining sector.
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According to him, minerals, such as gold, are being developed to generate adequate revenue for the country.
Ogah further explained that the mineral sector would be developed to facilitate industrial development in the country.
He added that the MMSD and its agencies was developing a framework for the optimisation of revenue generation from the country’s abundant mineral deposits.
According to him, modalities have been put in place to ensure that miners pay royalties due to the Federal Government.
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The minister added that a database of all miners in the country was being created for proper monitoring and collection of royalties.
