Minister Of Solid Minerals Development, Kayode Fayemi says the Ministry is pursuing a focused strategic agenda towards building a world class ecosystem in the nation’s quest to diversifying the economy using the solid minerals sector as one of the frontiers.
He was speaking at the House Of Representatives Sectoral Debate on the Nigerian economy.
Dr Fayemi disclosed that geological report indicates that every state of the federation has potential in the sector hence the ministry has proposed to the revenue mobilization allocation and fiscal commission for states endowed with abundant solid mineral deposits to have 7 percent derivation as obtained by states in the Niger Delta Region.
While calling on the National Assembly for an intervention fund to explore the solid minerals sector, the Minister said revamping the Ajaokuta Steel Company will be a plus in the nation’s diversification drive.
He stressed that the Ministry already has a robust road-map for the sector.