Mr Alake said only loans that can be liquidated by the returns on the project should be taken to save the people from poverty.
EXCLUSIVE: Top Nigeria Customs officers enmeshed in multi-billion naira corruption scandalFood security: The Bago challenge, By Dakuku PetersideEXCLUSIVE: Northern senators move against Akpabio over alleged N4trn budget paddingClimate change, extreme weather, conflict exacerbate global food crisisHow to stay constantly motivated, By Sunday AdelajaFatima Maikore, Chief Operating Officer, Agnes Dasewicz, U.S. International Development Finance Corporation , Mr.
The minister said, ” It is an interesting paradox that in spite of their chronic indebtedness, African countries remain the target of institutional and private loan sharks marketing short and long-term credit to ministries, departments and agencies. “In the mining sector, in-situ equity, where the verified value of unextracted mineral can be the equity of the owner in joint ventures, is a better financial arrangement than the road to chronic indebtedness,” the minister said.
According to him, the administration has focused on developing the critical minerals sector to diversify the economy from oil. In her submission, Ms Dasewicz lauded the renewed focus on solid minerals by Nigeria, emphasising her corporation’s interest in providing the required support to strengthen the mining sector value chain.