Expert wants President-elect to establish Solid Mineral Devt Bank

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ABUJA – Prof. Clifford Teme, a formers president of Nigerian Mining and Geosciences Society, has advised President-elect, Gen Muhammadu Buhari, to establish Solid Minerals Development Bank, to fund development in the mining sector.

Teme gave the advice in an interview with the News Agency of Nigeria (NAN) in Abuja.

Teme, who is also a Professor of Engineering Geology and Geotechnics, said the bank would provide the needed for the sector to grow, in view of the capital intensive nature of mining activities.

He believed that, when established, the bank would ensure rapid development of the mining sector, which in turn would generate millions of jobs for Nigerians.

“This is a very possible index for the re-bouncing of the economy in terms of manpower development and others,’’ he said.

The expert appealed to Buhari to adequately fund the Ministry of Mines and Steel Development and its agencies to boost revenue generation.

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Teme further advised the government to set short, medium and long term goals for the mining sector, so as to effectively exploit the vast mineral resources in the country.

He said there need to harmonise exploration activities carried out by the government and the private sector to create synergy and track minerals exploited in the country.

Teme said the incoming administration should facilitate detailed field mapping of mineable areas and identify various minerals assemblage in each of the six zones of the country.

He also advised the governmet to issue mine leases to private investors to commence exploitation of the different minerals in the country.

The expert said was also important for the administration to appoint mining engineers for each mining consortium, for of proper bankable mining reports for different minerals.

Teme canvassed for the setting up of more minig engineering departments in universities and retraining of existing experts in the field, to build a vast network of skilled manpower required by the sector.

He urged the administration not to abandon viable projects embarked upon by the administration, especially the revitalisation of the rail system, agriculture, airports, power generation and infrastructure.

Teme, a former Vice Chairman, Council of Nigerian Mining Engineers and Geoscientists, identified other areas to be given priority by the new administration to include corruption, security and employment generation.(NAN)