Sen. Bola Tinubu, the president-elect, has been encouraged by the Gold Miners Processors and Marketers Association of Nigeria to prioritize the growth of the mining industry. The GMPMA’s president, Mr. Auwal Bununu, made this statement on Sunday in Abuja, Entrepreneurng report.
Bununu claimed that the government was not paying enough attention to the sector and that this had made it more difficult to implement initiatives and policies there. The sector is anticipated to contribute significantly to the nation’s GDP.
“Due to attention and strong assistance from appropriate authorities, the sector made up roughly 15% of GDP in the 1960s and 1970s.”
“However, due to the industry no longer receiving as much funding and attention, the GDP contribution is low today.”
“The sector is not functioning effectively as it is expected because the financial institutions and fiscal policies are not capturing the sector very well in the policy formulation,” he said.
The Nigeria Association of Chambers of Commerce, Industry, Miners and Agriculture, a mining organization, also has Bununu on its technical advisory board. The association’s goal, according to Bununu, is to further the nation’s economic development.
He explained that the GMPMA’s umbrella organization, the NACCIMA, worked with various stakeholders to accomplish its goals.
The union, according to Bununu, appreciated the President-elect’s announcement of plans to build a competent government that would assure growth in all spheres of the economy.
“I am pleased to learn that the President-elect plans to build a competent government.”
“That means, in my opinion, that the administration will bake the national cake and see to it that it is distributed to everyone in all areas of the nation. We have been swapping recipe ideas but not preparing the cake.”
“Since the President-elect has pledged to lead a competent government, it follows that he will not only bake the cake but also ensure that everyone enjoys the sharing.”
Therefore, he concluded, mining is the most significant industry that contributes to both industrial development and income generation.
“The president-elect cannot bake the cake without developing the mining industries, which provide the nation with significant revenue and job opportunities,” continued Bununu.
“The association is now creating a framework for mineral and metal growth in the private sector, which will act as a backup plan for the future administration.”
In conclusion, we are working on the plan to make sure it produces positive results because the framework is a really important item.
As soon as the new president was sworn in, “We are also going to talk with the incoming administration.”
Source: Punch
