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Thu, Sep 7, 2023 2:40 PM

Edo State Government Plans to Harness Solid Mineral Potential for Economic Growth

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Edo State Government Plans to Harness Solid Mineral Potential for Economic Growth
The Edo State government is set to tap into the vast untapped potential of solid minerals in the state. With abundant deposits of coal, lithium, and dolomite, the state can generate billions of dollars in revenue. To achieve this goal, the government has established new units in the Ministry of Mining and Energy. The commissioner for mining and energy, Hon. Enaholo Ojiefoh, shared these plans during an interactive session with the press. The government aims to create a comprehensive database of investments, opportunities, and stakeholders in the mining sector to facilitate the harnessing of these resources.

Edo State, located in south-south Nigeria, is known for its rich cultural heritage and agricultural productivity. However, beneath its fertile soil lies a wealth of untapped solid minerals, which could potentially become a multi-billion dollar source of revenue for the state.

The commissioner for mining and energy, Hon. Enaholo Ojiefoh, recently shared plans by the Edo State government to maximize the economic potential of solid minerals. He highlighted the staggering deposits of coal, lithium, and dolomite scattered across the state, emphasizing the significant financial opportunities they present.

Speaking at an interactive session with journalists in Benin City, the capital of Edo State, Hon. Ojiefoh stated, "For coal alone, we have four million metric tonnes deposit in just two local government areas within Owan axis of Edo North. If we are able to harness it, it is going to run into billions of dollars for us."

Coal is currently priced at around $25,000 per metric tonne. Thus, with a deposit of four million metric tonnes, the potential revenue from coal alone is astronomical. The same applies to lithium and dolomite, both of which have immense commercial value.

To achieve these ambitious goals, the Edo State government has established three new units within the Ministry of Mining and Energy. These units focus on investment, research, and power, signaling the government's commitment to creating an enabling environment for the mining sector to thrive.

Furthermore, the ministry is in the process of developing a comprehensive database that will provide easy access to information on investments, opportunities, and stakeholders in the mining industry. The database will serve as a valuable resource for individuals and organizations interested in the sector.

Hon. Ojiefoh emphasized the importance of the database, stating, "At a click, you will know what is happening in the oil and gas sector in the state. That means just at a click, you can see all the filling stations and mining companies in the state."

The planned launch of the database is expected to further enhance transparency and accountability in the mining sector, as it will enable stakeholders to easily track activities and initiatives undertaken by the government.

The move to harness solid minerals in Edo State aligns with the federal government's efforts to diversify Nigeria's economy beyond oil. By exploring the abundant mineral resources available within the state, Edo State aims to attract local and international investors, create jobs, and boost economic growth.

In conclusion, Edo State is poised to tap into the economic potential of its solid minerals. With vast deposits of coal, lithium, and dolomite, the state envisions a future of increased revenue and economic prosperity. Through the establishment of new units within the Ministry of Mining and Energy and the development of a comprehensive database, the state government is taking proactive steps to unlock the untapped wealth beneath its soil.

Source of content: OOO News 2023-09-07 News

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