The National President
Miners Association of Nigeria, Dele Ayanleke, has called on the Executive Secretary of the Solid Minerals Development Fund, Hajia Fatima Shinkafi to use her reappointment to inject the much needed investments into the sector.
This is contained in a congratulatory message signed by him in Abuja.
The statement urges Shinkafi to explore further opportunities for similar collaborations towards the funding of the small scale lease holders, whose operations offer huge opportunities for massive wealth creation and poverty alleviation.
“While congratulating our dear sister, Madam Shinkafi, on this well deserved renewal of her appointment, I wish to implore her to work towards ensuring that the SMDF/AFC collaboration close deals that will inject the much needed investments into the sector in the most pragmatic terms” Ayanleke adds.
It appeals to the Executive Secretary of the SMDF to work closely with the Minister of Solid Minerals Development, Dr. Dele Alake in ensuring the repatriation of the ₦2.5b FG intervention support for upgrading the capacity of ASM operators, currently depreciating in value in the vault of Bank of Industry (BoI) for close to a decade
The statement urges the SMDF boss to also ensure the judicious utilization of the fund to achieve its purpose, despite the current state of our currency.
“I will also seize this opportunity, on behalf of the Nigerian miners, to implore the federal government on the need to review the operational guidelines of the SMDF with the view to upgrading its status as the premium financial institution for the mining sector” The miners President stresses.
“This counsel becomes imperative in view of the reluctance of most of Nigerian financial institutions to develop products and create special desks that will be manned by staff specifically trained to handle the intricate peculiar nature of mining financing, to upgrade the capacities of indigenous operators and resurge a regime of mining infrastructure to incentivize the much needed big investors to the industry”
According to the statement, Ayanleke promised the Association readiness to support Hajia Shinkafi in assignment to boost the sector.
“While pledging our readiness to work with the Executive Secretary in her onerous assignment, it is also expected that she will collaborate more with critical stakeholders in her policy formulation and strategic actions to reposition the Fund in bridging the gap in mining assets financing” he emphasizes.
The statement also expresses appreciation to President Bola Ahmed Tinubu on the renewal of the appointment of Hajia Fatimah Shinkafi, as the Executive Secretary of the Solid Minerals Development Fund (SMDF) and the Presidential Artisanal Gold Mining Initiative (PAGMI).
Once again, I congratulate you and wish you a most fruitful and successful tenure.
