Sokoto seeks access to World Bank’s $6m solid mineral intervention fund

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 Sokoto State Government seeks access World Bank’s $6 million to drive solid mineral intervention fund to support mining activities in the state.

Commissioner for Solid Minerals and Natural Resources Development in the state, Barr. Bello Goronyo, who noted this while speaking with journalists, said the move was to boost mining activities and harness the state’s abundant natural resources for the socio-economic benefits of the people in the state.

Goronyo also hinted that the state was making an arrangement with the Dangote Group for the exploration and exploitation of phosphate with the aim of enhancing revenue generation of the state.

He added that the state government was targeting over 2,000 direct and indirect jobs in its new cement factory which will be built through public-private partnership (PPP).

He said already, AFDIN Construction Company has indicated interest to acquire 50 percent equity share in the company.

According to him, Governor Aminu Waziri Tambuwal has approved the expansion of the project from 300 tonnes to 1,500 tonnes of cement daily. The cost of the project, he said, was N2.3 billion for local content while $26.9 million was for foreign content but may increase depending on currency fluctuations.

He said that arrangements had reached an advanced stage for the establishment of a fertilizer plant under a public-private partnership at the cost of N5bn.

The plant, he said, would produce NPK and SPP fertilizer which are in high demand.

His stated that, “In this regard, the plant will use our abundant phosphate and other local raw materials available in the state as input.”

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Godwin Okafor is a financial journalist, Internet Social Entrepreneur and the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of Naija247news.com and also sits on the board of Students In Business Awards, (SIBA).

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