House of Representatives has advocated a strong reform in the nation’s Ministry of Mines and Steel Development to revive the sector for rapid economic growth.
The chairman House committee on mines and steel Ibrahim Halims, made the call when the minister of mines and steel development appeared before the committee to defend the 2023 budget estimate of the ministry.
Halim Ibrahim, explained that considering the current economic challenges in the country, ministries and other agencies of government must adopt a diversification policy to support the dwindling economy.
The Committee Chairman stressed that the ministry of Mines and Steel development being one of the critical sectors of government have to think outside its box and harness alongside agencies under it to boost economy.
He also emphasized the need for the Ministry to use the 2023 budget to revive Ajaokuta Steel Company and other solid Minerals to provide basic raw materials for infrastructure development projects such as housing and real estate development, energy, automotive, as well as various small & medium enterprises.
Earlier, the Minister of Mines and Steel development Mr Olamilekan Adegbite, told the committee that efforts were being made to complete work on the Ajeokuta Steel Company by the present administration.
Mr Olamilekan Adegbite, said the ministry needs more funds to curb the menace of illegal mining as well as insecurity in the sector which according to him is seriously affecting investors and the investments as a whole.
The minister disclosed that the ministry is working to scale up small scale mining only the sum of 3.2 billion naira was allocated to it and ten agencies under it’s watch in the 2023 budget, describing it as inadequate.
COV /TSIBIRI