Wednesday, 21 August 2013

Federal Government Invites Foreign Investors To Mining Sector

President Goodluck Jonathan says there is an urgent need to revive the country's mining sector not only to diversify the country's economy but also  to provide an alternative means of power in the country.

The President spoke on Monday while declaring open a workshop on the Solid Minerals sector in Abuja.

According to  the mining President, minning sector in Nigeria today is at its lowest ebb providing presently about 0.4 percent of the country's GDP.

This is in sharp contrast to  the 1960s when due to  its vibrancy  it was fundamental to the development of critical infrastructure such as rail and power.

The nationalization decree of the 1970s changed all that leading to the mass exodus of foreign investors and leaving the field open for local miners to pursue illegal activities.

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