We need result from N30bn mining intervention fund- Senator Manager - Vanguard

By Gabriel Ewepu

ABUJA- THE Chairman Senate Committee on Solid Minerals, Senator James Manager, at the weekend said result should be the focus of recently approved N30 billion mining intervention fund by the Federal Executive Council, FEC.

Manager made the call at the just concluded Nigerian Mining Week held in Abuja, while speaking on the need to inject more resources into the mining sub-sector for successful diversification of the economy.

He said: “I am sure and I want to believe that before the N30 billion Mining Intervention Fund was approved a memo was sent to the Federal Executive Council, FEC, by the Minister, and in that memo whatever they want to do with that money is spelt out item by item.

“Mine is what they want to use the money for and what is important is at the end of the day there must be value for money because Nigerians must have value for money for whatever that will be spent.

“This sub-sector we have been told is better and richer than oil, and what do we do now that we are diversifying so that we will not be relying on a mono product, that is, oil and for any reason there is problem in the oil sub-sector in the international market Nigeria will have problem and that is the problem we have today.

Hence the need to diversify and in diversifying the solid minerals sub-sector becomes very handy.

“Therefore whatever that is been done we want to see result and is the result that is important to parliament and not that the items that are there but result, and when the results are there everybody will see it so that the diversification the economy will become visible and everybody will be happy and that is the prayer of all Nigerians.

“Mr President’s move to diversify the economy for more sources of revenue generation will be supported by the National Assembly.”

Following allocation in the 2016 budget for the solid minerals sector the Lawmaker urged the federal government to allocate reasonable amount of money for the sector and smooth diversification in the 2017 budget.

“We need to be serious when we talk about diversifying and when you are diversifying let the people also see that the government is very serious about diversifying the economy.

“I want to believe that in 2017 budget by going forward something reasonable will be appropriated for the solid minerals sub-sector because we have to diversify and we have no other way out.

“It is important for government to also encourage the sub-sector the encouragement will come by a way of appropriation. I want to believe the president means well and he is very serious about what he has said about the solid minerals sub-sector, and that is the reason why the N30 billion has been approved by FEC”, he added.