FG Tasks Ebonyi Gov't on Allocation of 20% Annual Budget to Mining
Director of the Economic Geology Department at the Nigerian Geological Survey Agency, Isaac Okorie, has called on the Ebonyi State Government to allocate 20% of its annual budget to mining activities within the State.
Okorie made this statement during a one-day conference entitled “Solid Minerals in Ebonyi: The Government and the People,” held in Abakaliki over the weekend, emphasising that such political commitment could significantly reshape and improve the State’s economy.
“I suggest that the Ebonyi State Government should demonstrate the necessary political will to set aside a minimum of 20% of its annual budget to support mining, mineral exploration, and the processing of mineral resources in the State,” he said.
Okorie further proposed that if the State Government established a special purpose vehicle, such as a commercial enterprise, and allocated funds in the form of bonds to support the development of mineral resources, they could collaborate with the Federal Government.
“This could also involve partnerships with experienced international or local mining companies, provided there are well-researched exploration datasets endorsed by a competent authority”, he noted
He pointed out that, despite decades of exploration and mining in Ebonyi State, there had not been a single exploration document endorsed by a competent professional.
“To access funds locally and internationally, proper exploration procedures need to be followed by licensed and certified geoscientists, both locally and from abroad,” he suggested.
Francis Nwifuru, Governor of Ebonyi State, represented by Oguzor Ofia-Nwali, Commissioner for Commerce and Business Development, stated that the State Government is committed to harnessing its various mineral resources.
He however urged mining investors in the State to comply with existing business policies and ensure that host communities benefit from Community Development Agreements (CDAs).
Meanwhile, Chidi Onyia, the State Commissioner for Solid Minerals Development, explained that the conference was held in collaboration with Ebonyi State University (EBSU) and the Ike-Elechi Ogba Foundation.
He noted that the event was aimed at highlighting the significant progress made in repositioning the solid minerals sector in the State
SOURCE: BUSINESS DAY
