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Home Business News

Mining: FG set to launch Nigerian made barite

William Ukpe by William Ukpe
July 10, 2021
in Business News, Spotlight
FG liberalize mining sector, grants 5 years tax concession to miners and other perks
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The Federal Government has announced that it will soon launch made-in-Nigeria barite, as it explores expanding mining operations in the country.

This was disclosed by Minister of Mines and Steel Development, Mr Olamilekan Adegbite, in a meeting with Mr Ogbonnaya Orji, Executive Secretary, Nigeria Extractive Industries Transparency Initiative (NEITI), on Friday in Abuja, according to the News Agency of Nigeria.

What the Minister said

The Minister disclosed that the Ministry has succeeded in achieving the development of barite from extraction, milling and bagging stages to support local industries, as well as for export, adding that Nigeria bagged barite has “Proudly Nigeria” as its logo.

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He said, “The Ministry of Mines and Steel Development in its bid to develop the value chain of mineral resources in the country and achieve its Presidential mandate to prioritize and develop seven strategic minerals in the Mining Roadmap, the Ministry of Mines and Steel Development is set to launch its made in Nigeria Barite soon.

The Ministry has succeeded in achieving the development of barite from extraction, milling and bagging stages to support local industries, as well as for export. Nigeria bagged barite has “Proudly Nigeria’ as its logo.”

Adegbite also added that effort was being made to update and upgrade ICT infrastructure to enable the ministry connect its 10 agencies, and the upgrade would ensure that all data of royalties paid and funds received were properly monitored and uploaded to the ministry’s server for online access.

In case you missed it

Earlier this month, Nairametrics reported that the Minister of Mines and Steel Development, Olamilekan Adegbite, disclosed the need to seek enhanced synergy between the ministry and other relevant sister agencies, in a bid to sanitize and grow the Mines and Steel sector for enhanced national prosperity and sustainable development.

Tags: BariteMinister of Mines and Steel Development
William Ukpe

William Ukpe

For further inquiries about this article contact: Email: william.ukpe@nairametrics.com or outreach@nairametrics.com. Twitter: @_sirwilliam_ @nairametrics.

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