Association tasks President-elect on development of mining sector

The Gold Miners Processors and Marketers Association of Nigeria (GMPMA) has urged the President-elect, Sen. Bola Tinubu to place priority on the development of the mining sector of the economy.

Mr Auwal Bununu, the GMPMA president, said this when he spoke with the News Agency of Nigeria (NAN) in Abuja on Sunday.

Bununu said the sector was faced with lack of government attention, adding that such had hindered effective implementation of projects and policies in the sector.

“The sector is expected to be a major contractor to the country’s Gross Domestic Product (GDP).

“In the 1960s and 70s, the sector contributed about 15 per cent of GDP because there was attention and strong support by relevant authorities.

“But today, the GDP contribution is low as the sector is no longer receiving such support and attention.

“The financial institutes and fiscal policies are not capturing the sector very well in the policy formulation, thereby making the sector not functioning effectively as its being expected,” he said.

Bununu, also the Technical Adviser to Nigeria Association of Chambers of Commerce, Industry, Miners and Agriculture (NACCIMA), a mining group, said the association’s target was to promote the economic development of the country.

He said that the NACCIMA was an umbrella body of the GMPMA, adding that the association was working with stakeholders to achieve its objectives.

Bununu said that the association welcomed the president-elect pronouncement of plans forming a government of competence, which would ensure development in all the sectors in the economy.

” I am happy to hear the President-elect saying that he is going to form a government of competence.

“What that means is that from my own understanding, the administration will bake the national cake and ensure that it gets to everyone in all sectors in the country. What we have been experiencing is sharing formulas, but not baking the cake.

“So, in as much as the president elect has promised a government of competence, it means that he will not only bake the cake but everybody will benefit from the sharing.

“So, if he is baking the cake, mining is the most important sector that brings not only revenue generation but also industrial development,” he said.

Bununu added:“The president-elect cannot bake the cake without developing the mining industries where the country benefit from with heavy revenue and creating job opportunities.

“The association is now developing a private sector framework of mineral and metal development which will serve as a cake baking alternative for the new administration.

“The framework is a very critical thing, so we are working on the strategy to ensure it brings good result.

“We are also going to dialogue with the incoming administration as soon as he sworn-in.”

Source: News Agency of Nigeria