The President of the Lagos Chamber of Commerce and Industry (LCCI), Gabriel Idahosa has called for an all-inclusive strategy in the mining-sector to attract investments in exploration, boost solid mineral development, and accelerate discovery of mineral for sustainable growth and national development.
Idahosa made the call while speaking on the state of the economy, in Lagos, adding that government must address funding challenges in the mining sector.
He added that there’s need for optimal utilisation of Nigerian mineral resources in line with the principles for sustainable growth and environmental, social, and corporate governance (ESG).
“We urge the government to address the sector’s funding issue and increase access to finance to develop value-added products by establishing seed funds and attracting foreign and local investments.
“For value addition that will enhance local production and job creation, create linkages across the mineral sector and beyond,” he stated.
To realise this, Idahosa urged the government to consider reviving the Ajaokuta Steel Company Limited (ASCL) and the Nigerian Iron Ore and Mining Company (NIOMCO) by considering arrangement to free them from all hindrances and ultimately make them operationally viable.
