Sunday, July 3, 2022
  • HOME
  • CONSUMER PERSPECTIVE
  • PERSONAL FINANCE
  • MARKETS & COMPANIES
    • APPOINTMENTS
    • COMMODITIES
    • COMPANIES
  • BUSINESS & ECONOMY
    • AGRICULTURAL ECONOMY
    • AGRO-ECONOMY
    • AVIATION
    • BRANDS
    • CONSUMER GOODS
    • ECONOMY
    • ENERGY
    • ENVIRONMENT
    • FINANCIAL INCLUSION
    • INSURANCE & PENSIONS
    • INVESTMENT
    • MANUFACTURING
    • MARITIME
    • MONEY
    • MSMEs
    • PRODUCT REVIEW
    • STARTUPS
  • CULTURAL CURRENTS
  • EMPIRE
  • CORPORATE RENDEZVOUS
Financial Street
No Result
View All Result
  • HOME
  • CONSUMER PERSPECTIVE
  • PERSONAL FINANCE
  • MARKETS & COMPANIES
    • APPOINTMENTS
    • COMMODITIES
    • COMPANIES
  • BUSINESS & ECONOMY
    • AGRICULTURAL ECONOMY
    • AGRO-ECONOMY
    • AVIATION
    • BRANDS
    • CONSUMER GOODS
    • ECONOMY
    • ENERGY
    • ENVIRONMENT
    • FINANCIAL INCLUSION
    • INSURANCE & PENSIONS
    • INVESTMENT
    • MANUFACTURING
    • MARITIME
    • MONEY
    • MSMEs
    • PRODUCT REVIEW
    • STARTUPS
  • CULTURAL CURRENTS
  • EMPIRE
  • CORPORATE RENDEZVOUS
Financial Street
No Result
View All Result

World Bank, PwC urge Nigeria to develop mining sector

Gideon Remigius-Iwu by Gideon Remigius-Iwu
June 2, 2020
in Economy, Front Page
0
World Bank, PwC urge Nigeria to develop mining sector
0
SHARES
24
VIEWS
Share on FacebookShare on TwitterShare on LinkedInShare on WhatsApp

The World Bank, PricewaterhouseCoopers and the Nigerian Institute of Mining and Geosciences have called on Nigeria to develop the mining sector of its economy to cushion the effect of the coronavirus disease.

This call was made in a statement issued by the Media Officer of the Mineral Sector Support for Economic Diversification Project, IshakuKigbu, after a crucial virtual Mid-Term Review of the three organisations to look at the role of the mining sector in minimising the impact of COVID-19 and the global oil crisis.

READ ALSO

Spike in cooking gas, kerosene prices and crave for substitutes

How forex trading impacts economies

The MTR of the MinDiver was designed to evaluate the role of mining in helping the country cushion the adverse effect of the pandemic, which has also contributed to the global oil crisis.

Read Also:

  • APCON and war against false adverts
    APCON and war against false adverts
  • Spike in cooking gas, kerosene prices and crave for substitutes
    Spike in cooking gas, kerosene prices and crave for…
  • Uber Eats celebrates fourth anniversary with 5.2% growth in Kenya
    Uber Eats celebrates fourth anniversary with 5.2% growth in…

They called on the Nigerian government to harness the economic potential of the sector, which has been largely untapped, even as the global prices of oil continues to fall, resulting in dwindling government revenues.

Highlighting some solid mineral resources that have high demand in the international market, the trio advised the government to focus on iron ore, battery minerals, cobalt, lithium, gemstone, jewellery, barite, phosphate among others.

According to the organisations, Barites, also used in the oil industry, are well in demand in the international market; including phosphate used for fertiliser and limestone used in the construction industry.

According to the Task Team Leader at the World Bank, Mike Stanley, Nigeria should not wait for oil prices to rebound, as this would not yield expected result due to over-supply of the commodity from other producing nations, rather it should rethink deeply on focusing on developing the money-spinning and revenue-generating solid minerals.

“Nigeria should begin to think of a need to develop a One-Stop-Shop and understand what investors need and want as well as focus on value-added processing which will, in turn, create jobs without being moved out of the country in this COVID period,” Stanley said.

HabeebJayeola of PwC said it was high time the Nigerian government looked into the sector as essential.

His words, “As a mono economy dependent on oil, which unfortunately has gone down without assurance of going up, and attendant limited markets for exports due to fall in global demand, the Nigerian government must begin to see the mining sector as essential.”

  • Facebook
  • Twitter
  • Pinterest
  • LinkedIn

Tags: ManufacturingMiningNigeria mining sectorWorld Bank

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
Gideon Remigius-Iwu

Gideon Remigius-Iwu

Related Posts

Nigeria's gas reserves hit 62 million barrels
Energy

Spike in cooking gas, kerosene prices and crave for substitutes

June 27, 2022
how forex impacts economies
BUSINESS & ECONOMY

How forex trading impacts economies

June 20, 2022
NGX index, market cap depreciates by 2.18%
Front Page

Bearish sentiment returns as index NGX dips by 0.13%

June 20, 2022
Is cybercrime here to stay?
Front Page

Is cybercrime here to stay?

June 13, 2022
Bears retain grip on Nigerian stocks
Front Page

Union Bank, others rake in N27.841m shares at NGX

June 13, 2022
CBN's psb patent to MTN
Financial Inclusion

CBN’s PSB patent to MTN

June 7, 2022
Next Post
Nasarawa lawmakers urge gov to sack SSG over N248.5m alleged fraud

Nasarawa lawmakers urge gov to sack SSG over N248.5m alleged fraud


Naira4Dollar Rates
ADVERTISEMENT

RECENT STORIES

APCON and war against false adverts

APCON and war against false adverts

July 2, 2022
Uber Eats celebrates fourth anniversary with 5.2% growth in Kenya

Uber Eats celebrates fourth anniversary with 5.2% growth in Kenya

June 28, 2022
Role of coop in tech startups empowerment

Role of coop in tech startups empowerment

June 28, 2022
40 Nigerian students to get Nexford, Piggyvest scholarships

40 Nigerian students to get Nexford, Piggyvest scholarships

June 27, 2022
Nigeria's gas reserves hit 62 million barrels

Spike in cooking gas, kerosene prices and crave for substitutes

June 27, 2022
NGX index, market cap depreciates by 2.18%

Bearish sentiment continues as NGX ASI depreciates by 0.14%

June 27, 2022
Extinction of imported used cars looms

Extinction of imported used cars looms

June 25, 2022

TRENDING

  • 40 Nigerian students to get Nexford, Piggyvest scholarships

    40 Nigerian students to get Nexford, Piggyvest scholarships

    0 shares
    Share 0 Tweet 0
  • Uber Eats celebrates fourth anniversary with 5.2% growth in Kenya

    2 shares
    Share 0 Tweet 0
  • Spike in cooking gas, kerosene prices and crave for substitutes

    2 shares
    Share 0 Tweet 0
  • The world of POS fraudsters

    0 shares
    Share 0 Tweet 0
  • Bearish sentiment continues as NGX ASI depreciates by 0.14%

    0 shares
    Share 0 Tweet 0
Financial Street

© Financial Street 2021. All Rights Reserved.

More Links

  • Privacy Policy
  • Terms of Use
  • Contact Us

Follow Us

No Result
View All Result
  • HOME
  • CONSUMER PERSPECTIVE
  • PERSONAL FINANCE
  • MARKETS & COMPANIES
    • APPOINTMENTS
    • COMMODITIES
    • COMPANIES
  • BUSINESS & ECONOMY
    • AGRICULTURAL ECONOMY
    • AGRO-ECONOMY
    • AVIATION
    • BRANDS
    • CONSUMER GOODS
    • ECONOMY
    • ENERGY
    • ENVIRONMENT
    • FINANCIAL INCLUSION
    • INSURANCE & PENSIONS
    • INVESTMENT
    • MANUFACTURING
    • MARITIME
    • MONEY
    • MSMEs
    • PRODUCT REVIEW
    • STARTUPS
  • CULTURAL CURRENTS
  • EMPIRE
  • CORPORATE RENDEZVOUS
Posting....