Fayemi-led Solid Mineral Sector's Impact in Nigeria so far by... Mayowa Michael Adeleye
talking at any of the Town Hall meetings across Nigeria, I still feel like he is still in the campaigning mood!!
Nigerians are sick and tried of Rhetorics.
What Nigerians need Minister for Solid Minerals in Nigeria to do is to replicate what Nigeria did on LIMESTONE in two or max three other solid minerals...
Iron Ore, Bitumen and Coal could be his focus for the next 3 years. That way Nigerians will want to have strategic policies with shifted priorities on three 3 solid minerals specific.
Those 3 are good enough to keep any solid mineral minister busy and very serious for the next 3 years or more. They can change the fortunes of Nigeria just as limestone did.
Fayemi's repeated talks and speeches about his plan towards officializing illegal or informal hand miners of any or/and all solid minerals across Nigeria are just boring and pure attempts with risk of distractions from reality by seeking for complex solutions to simple problems!
We need serious and prioritized key focuses on the 3 solid minerals listed above to ensure that:
1. Nigeria does not import steel and steel products anymore within a reasonable time frame - to save $4bn forex annually spent on steel and steel products imports from China, Europe and South East Asia.
2. Nigerians can have at least one or two to three massive coal fired power plants to generate substantial electricity to save the nation from the "darkness" embarrassment of sharing under 5,000MW among over 170 million heads.
3. Nigerian based construction corporations like Julius Berger, RCC, Setraco etc do not import bitumenioius asphalt from Russia, china, india anymore for all road constructions projects across Nigeria anymore which will help Nigeria to save over $2bn forex yearly on asphalt imports.
Those 3 are more than good enough with LIMESTONE already topping the chart.
Today, Nigeria does not export limestone to anywhere rather Nigeria is self sufficient in cement local production across its supply chains and Nigeria will soon become net exporter of cement!
4 years is almost over. Our attitude towards time factor is just appalling in Nigeria. Only few appreciate time value of money.
That is why it does not bother us when someone spends 3hrs to commute to go and do an 8hrs job.
Beyond the shore of Nigeria, beyond the slogan of local contents only, Dr Fayemi can lead Nigeria to seek and find foreign investments to the tune of over $7 billion into coal, bitumen mining and steel over the next few years as the nation seeks to develop iron ore and bitumenioius asphalt extraction industries to diversify its oil-dependent economy.
Making Nigeria self sufficient in its annual steel demand of 6.8 million metric tons should be one of the key priorities of Solid Minerals Development Minister Kayode Fayemi not how to open register for illegal miners across every mining sites in Nigeria.
Impossible is nothing if we are ready and serious. Rhetoric won't solve no problems.
Nigeria should approach IMF, AfDB, Chinese EximBank for such capital financing at under 2% interest rate for 25 years.
Hope Dr Fayemi will act on the options listed.
Egypt just got $12bn from IMF last week to invest massive into their economy. The details are on public domain.
Nothin hidden. However, Time Factor is a major rate limiting factor.
Fayemi-led Solid Mineral Sector's Impact in Nigeria so far by... Mayowa Michael Adeleye
Reviewed by instinct-mind
on
11:35:00 PM
Rating:
Reviewed by instinct-mind
on
11:35:00 PM
Rating:
No comments: