Ministry of Mines and Steel Development recieves N15bn intervention fund

Nigeria’s Ministry of Mines and Steel Development says it has been able to access N15 billion from the N30 billion mining intervention fund.

The Minister of State, Mines and Steel Development, Abubakar Bwari, made this known on Tuesday in Abuja, the nation’s capital.

He said with the release of the fund, the Ministry would award a N14 billion contract for exploration of strategic minerals in the country.

According to Bwari, the Ministry would also award another contract to cover minerals such as triphat, and Phosphate among others that were not on the list of minerals that were currently explored.

“The ministry will also look at the possibility of Nigeria using its huge phosphate mineral deposits for fertilizers to boost agricultural products,” he said.

It would be recalled that the Federal Executive Council (FEC) had in November 2016 approved N30 billion intervention fund for mining exploration in the country.

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