The Nigerian Mining and Geosciences Society (NMGS) has urged the Federal Government to give special incentives to banks to encourage them in disbursing loans to Artisans and Small Scale Miners (ASM) to expand their operations.
Olugbenga Okunlola, President of the Society, in a communique on Thursday at the end of the NMGS 53rd annual international conference and exhibition in Abuja, said “the loans would enable the ASM to expand their operations with the latest mining technologies and also help them to meet up with the global best practices’’.
He called for the full implementation of the Ministry of Mines and Steel Development Road Map, especially by making funds available to assist small scale miners, giving them loans, equipment, and good regulations.
He called on the mining sector to optimise and manage Africa’s limited resources and endowments diversified by incorporating both high grade and low grade metals.
The president urged the government to increase funding to the agencies responsible for the generation of geosciences data.
He recommended that government should fully implement its reforms, maximise and utilise oil and gas resources locally, adding that this would enhance local refineries production.
He listed solutions that could help Nigeria to overcome all challenges militating against real growth of the extractive industries as beneficiation and manufacturing in the downstream.
Others include provision of mining equipment, services, consumables in the upstream, provision of infrastructure, research and development in the side stream.
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