The Minister of Mines and Steel Development, Dr,Kayode Fayemi on Thursday identified agriculture and mining as the critical sectors that brings Nigeria out of recession.
Fayemi made the observation at the Ministerial Session of the three-day maiden edition of National Council on Mining and Mineral Resources Development in Abuja.
He said that the efforts of the new administration have started yielding the desired results.
“I can tell you we (Federal Executive Council) met on Wednesday and we analysis the figures that propel the country out of recession.
Fayemi said he continue on working with stakeholders to deliver on all the provisions in the Sector’s Growth Road map.
He said that the efforts of the administration in partnership with stakeholders had started yielding desired results.
Such as, one highlight of the road map is to achieve through stakeholders’ engagement an increasing amount of mining contribution to the Gross Domestic Product (GDP).
“Also, to increase the delivery of shared prosperity to all stakeholders of the mining Value Chain (Exploration, Mining and Trade).
As at July, the sector had already surpassed the entire income of 2 billion naira generated for the whole 2016,’’ the minister said.
Fayemi pledge that the Nigeria’s mineral resource endowments would be optimally exploited for the benefit of Nigeria through collaborative governance of the mining sector by governments and communities at all levels.
The Minister of State for Power, Works and Housing, Mustapha Shehuri, said that good network of roads had played a role in accessing and evacuation of minerals from mining sites.
Shehuri said that the ministry have determine to increase power supply from 6,000 megawatts to 20,000 megawatts by 2020.
“We are working towards getting the right energy mix for Nigeria.
“We are going into solar, wind, nuclear, waste to energy-powered plants, in addition to the existing hydropower, gas and fossil fuel driven plants,’’ the minster said.
Gov. Abubakar Bagudu of Kebbi said the mining sector had suffered set back for some years because of discovery of crude oil.
Bagudu said that for over 20 years, the Federal Government had invested no less than 10 billion dollars yearly in the development of petroleum resources.
“I think, once we examine the performance of mining sector, the closest to us is Ghana, where in 2016; it produced 90 tonnes of gold, which is about seven billion dollars.
The seven billion dollars is 50 per cent of our earning from oil and yet we know of many states including Kebbi that have been producing gold.