“In Nigeria we have managed to develop a real ‘partnership’ with the Federal Government of Nigeria and we are still working along with some of the States that have higher mining potentials”, said Francisco Igualada, Senior Mining Specialist, Energy and Extractive Industries (GEEDR) at the World Bank.
Igualada said, “The World Bank follows a kind of value chain that bring those countries we support from non-renewable resources to a stage in which sustainable development may take place. Each country has its own idiosyncrasy and characteristics. I am particularly excited about two projects; our critical involvement in DRC in support of the rationalization of the sector through nearly five years as well as my responsibility in managing our recently approved $150 million loan project (MinDiver) for developing the Nigerian mineral sector and diversifying it from its dependency on other sectors like oil and gas as President Buhari has clearly indicated in his inaugural speech; two sectors need continuous development in Nigeria, that are agriculture and mining.
He adds: “from the Bank’s side, I am really looking forward to contribute to transforming their potential resources into some tangible exploration and exploitation mineral projects bringing economic prosperity and jobs. Nigeria is the first African economy and really needs the employment that mining and all types of value-chain including local content can bring.”
The upcoming Nigeria Mining Week, which is taking place again in Abuja from 16-19 October, is a successful partnership between PwC, the Miners Association of Nigeria (MAN) and event organisers Spintelligent. This high-level, strategic mining investment platform will link investors, project developers, financiers, technology providers and government to share best practices and demonstrate the latest strategies to evolve the sector successfully.