Sam Onukwue
BY ADIGUN OLADITI NOSIMOT
Chairman of the Association of Securities Dealing Houses of Nigeria (ASHON), Sam Onukwue, has made a compelling appeal to the Federal Government, urging it to prioritize the solid minerals industry as a potential major source of revenue while avoiding a decline in these funds. in private hands.
In a statement released on Monday, Onukwue discussed the economic situation and suggested how the government can support it.
Onukwue emphatically stated: “Solid minerals are a potential cash cow” and stressed the need for the government to focus on the sector to take control of the revenue streams and ensure that they do not fall into private hands.
Member of the Chartered Institute of Stockbrokers, Onukwue continued the discussion, reiterating that ASHON has always advised the Federal Government to explore investments in the extractive sector as a means of creating employment opportunities, boosting export trade and strengthening the gross domestic product.
Dele Alake, Nigeria’s minister of solid minerals, announced in September the government’s intention to establish a solid minerals company to finance the mining sector and oversee the country’s mineral resources.
The move is part of a broader aim to strengthen the mining sector to benefit from global trade and diversify the Nigerian economy by reducing its dependence on oil.
Explaining the company’s mission, Alake said it will actively seek and secure investment partnerships with leading international companies around the world.
This strategic approach leverages Nigeria’s investment-friendly environment to attract significant foreign direct investment to support the development of the mining sector.
