BY AKUDORO GLORIA
Minister of Solid Minerals Development, Dr. Dele Alake is working towards the repatriation of ₦2.5b Federal Government intervention support from Bank of Industry (BoI) vault to boost Artisanal and Small-scale Mining (ASM) operators’ capacity.
The National President, Miners Association of Nigeria (MAN), Engr. Dele Ayanleke made the disclosure in a statement while expressing his appreciation to President Bola Ahmed Tinubu on the reappointment of Hajiya Fatima Umaru Shinkafi as the Executive Secretary of the Solid Minerals Development Fund (SMDF)/ Presidential Artisanal Gold Mining Initiative (PAGMI).
President Tinubu had over the weekend announced the renewal of the appointment of Fatima Umaru Shinkafi as the Executive Secretary, MSMF/PAGMI alongside three other key appointments which include Prof. Abdullahi Yusuf Ribadu as the Executive Secretary of National Universities Commission (NUC); Prof. Salisu Shehu as Executive Secretary of Nigerian Educational Research and Development Council (NERDC) and Jabiru Abdullahi Tsauri as the National Coordinator of New Partnership for Africa Development (NEPAD).
Shinkafi was first appointed to the position on May 25, 2017, by former President Muhammadu Buhari and is said to be one of the driving forces of the changes in the solid mineral sector.
Engr. Ayanleke however implored Shinkafi to see the reappointment as a divine call, not only to work towards ensuring that the SMDF/AFC collaboration close deals that will inject the much needed investments into the sector in the most pragmatic terms, but to explore further opportunities for similar collaborations, especially toward the funding of the small scale lease holders, whose operations offer huge opportunities for massive wealth creation and poverty alleviation.
“Further still, as the Honourable Minister, Dr. Henry Oladele Alake, moves toward ensuring the repatriation of the ₦2.5b FG intervention support for upgrading the capacity of ASM operators, currently idling away and depreciating in value in the vault of Bank of Industry (BoI) for close to a decade, it is expected that, under her watch, the SMDF will work closely with the Honourable Minister to ensure the judicious utilization of the fund to remarkably achieve its purpose, despite the current state of our currency,” he stated.
Ayanleke who spoke on behalf of the Nigerian miners, implored the federal government on the need to review the operational guidelines of the SMDF with the view to upgrading its status as the premium financial institution for the mining sector.
“This counsel becomes imperative in view of the reluctance of most of Nigerian financial institutions to develop products and create special desks that will be manned by staff specifically trained to handle the intricate peculiar nature of mining financing, to upgrade the capacities of indigenous operators and resurge a regime of mining infrastructure to incentivize the much needed big investors to the industry,” he emphasized.
