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The Federal Government, through the Ministry of Mines and Steel Development, has secured N45 billion support from the World Bank, for the Mineral Sector Support for Economic Diversification, MSSED, programme.
The Minister of Mines and Steel Development, Kayode Fayemi, stated this yesterday, in his address at a session organised to present the Nigerian Mining Sector Year 2016, in Review and Projections for Year 2017, with the theme, “On the road to share mining prosperity, the journey so far”.
According to Fayemi, “We have secured support from the World Bank, for the funding of $150 million Mineral Sector Support for Economic Diversification (Economic Diversification MSSED or MinDiver) programme.
“A critical component of the support is to provide technical assistance for the restructuring and operationalisation of the Solid Minerals Development Mining Investment Fund, which would make finance available to ASM operators, through development finance, micro-finance, and leasing institutions.
“The fund will also help to bring back on stream previously abandoned proven mining projects, like tin ore, iron ore, coal, gold, and lead-zinc, among others.”


Speaking on the contributions of the sector, Fayemi said, “We have improved the productivity of the sector, by tripling the Ministry’s contribution to the federation account to about N2 billion, in 2016, up from N700 million, in 2015.”
In another development, the Federal Government, has assured that its social intervention programmes will start fully, in 2017.
Senator Udoma Udo Udoma, the Minister of Budget and National Planning, made this known while fielding questions from some stakeholders on the status of programmes, at the Public Presentation of the 2017 Budget Proposals, in Abuja, on Monday.
He said that N500 billion had been allocated for the programme, which included, Home Grown School Feeding Programme, Government Economic Empowerment Programme, Nigeria-Power Job Creation Programme, Conditional Cash Transfers, and Social Housing Fund.
Udoma added, that 2016 was a year of planning and consultation for the programmes.
He said: “We have to get these programmes right, so excessive consultation, and excessive planning has gone into those projects, because we don’t want any waste.
“We want to make sure that the funds get to the beneficiaries; you will see full implementation in 2017; that is why the same allocation has been made for the programmes.
“We will not waste time in terms of preparatory work, it has been done already,’’ he said.

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