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Miners Seek Partnership With FG To Shore Up FX Supply

Miners have called on the Federal Government to partner them to explore the huge potential in the sector to increase the country’s gross domestic product (GDP) and increase foreign exchange (FX) supply.

They said the sector holds a huge potential in generating enough FX if there is proper synergy between FG and private miners. The Chairman, Board of Trustees, (BoT), Miners Association of Nigeria (MAN) Sani Shehu, said this at the 2023 delegates’ election of new executives members of the body in Abuja at the weekend.

He said harnessing mining potential is another sure way the government could earn more FX, especially in the face of the rising currency crisis.

“Mining is a very critical sector more than ever before and government is under serious pressure to source its FX. As a dollar trades for N900/$, think this is very sad. If you look at the global economy, there is no option for strengthening the naira than to increase exports

“Therefore, the mining sector and miners have a critical role to play in terms of generating FX. Therefore, we have to know how important the area is and work close with government to give all the support we want,” he said.

Also, the Permanent Secretary of the Ministry of Mine and Steel Development, Dr Mary Ogbe, who was represented by Okhunoya Sunday Onah of the Mining Inspectorate Department in the ministry, lamented that minerals such as columbite, tantalite and lead are exported raw to Asia and Europe at ridiculous prices without value addition, adding that such has not helped technological and industrial growth of Nigeria.

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Source: Guardian

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