The Federal Government has been advised to concentrate on the solid mineral industry by Sam Onukwue, Chairman of the Association of Securities Dealing Houses of Nigeria, as it may generate much-needed money and prevent that cash from flowing into private wallets.
Onukwue said this in a statement on Monday where he talked about the state of the economy and ways that the government might strengthen it.
“Solid mineral is a cash cow,” he declared. The government ought to focus its attention on this industry in order to seize control of the money and prevent it from falling to private hands.
The Chartered Institute of Stockbrokers colleague Onukwue continued by saying that ASHON has at various.
According to Minister of Solid Minerals Dele Alake, Nigeria intends to establish a solid minerals organization that will oversee and fund the nation’s mining industry.
This is happening as the nation seeks to expand its mining industry in order to gain from international trade and diversify its economy away from its reliance on oil.
In order to take advantage of the favorable investment climate that exists in the nation, Alake stated, “The proposed corporation will seek and secure partnership investment agreements with big multinational companies worldwide in order to secure massive foreign direct investment for the mining sector.”The Chartered Institute of Stockbrokers fellow Onukwue continued, saying that ASHON has previously pushed the FG to use “investment in the commodities space to generate employment opportunities, boost export trade, and grow the Gross Domestic Products.”
