IMICON to boost FG’s economic diversification drive

The Federal Government’s resolve to shift away from a mono-cultural  economy has received a boost as the International Mining Investment Conference and Exhibition on Nigeria (IMICON 2016) is being put together to chart a way forward to unlock the mining potentials in the country.

Economic experts have argued that the mining sector holds the key to the nation’s economic transformation. Also, a report by Wardell Armstrong in May of 2007 revealed that there is documentary evidence that not less than 75 solid minerals of economic and commercial relevance abound in Nigeria.

However, Nigeria’s solid minerals sector makes up only about 0.34% of Gross Domestic Product (GDP). This has been attributed to factors such as unfavourable conditions with regard to access to funding, inadequate geological and bankable data, inadequate skilled labour, inadequate logistical support, artisanal and informal mining amongst others.

To exit from this scenario, this year’s edition of the IMICON 2016 will pave way for Nigeria’s investment needs in the mining sector, a development that will further lead to sustainable economic growth and diversification, a statement from Francis Adinoyi Kadiri, head of media has said.

“We wish to call on governments at all levels and the organized private sector to support the effort of the Buhari administration to revive the country’s mining sector. To this end, IMICON 2016 conference will provide adequate information on industry related topics like legislation, mining finance, insurance, technology, social impact and environmental impact assessment.

“It is pertinent to note that Nigeria has been correctly regarded as Africa’s biggest economy on the verge of sustainable long term development and stability. IMICON Conference will enhance the exploitation of the huge mineral endowments in Nigeria and the West African sub region. The conference will act as catalyst for the exploration, exploitation, value addition and marketing of the resources by local and foreign investors”, the statement noted.

It further explained that IMICON 2016 is designed to be a first rate international conference on the business potentials of the Nigerian mining sector.