The Federal government approves a N30 billion intervention fund for the mining sector’s development.

The Minister of Mines and Steel, Kayode Fayemi says the fund was approved during the Federal Executive Council meeting held yesterday, Guardian reports.

“You have heard all sorts of talks about how rich Nigeria is in mineral resources, but the quantity, quality and prospecting have been a challenge because we have neglected the sector for such a long time.”

Fayemi adds that the fund will be spent on exploration and research.

Source: Guardian