Fayemi FG spent N700m to develop online portal, says minister

The minister said the cutting edge initiative will boost the 'Ease-of-Doing-Business' in the sector.

  • Published:
Kayode Fayemi, Minister of Mines and Steel Development play Minister of Solid Minerals, Dr. Kayode Fayemi (Reuters)
24/7 Live - Subscribe to the Pulse Newsletter!

Minister of Solid Minerals, Dr. Kayode Fayemi, has revealed that the ministry has spent the staggering sum of N700 million to develop an Integrated Automation and Interactive GIS Web Portal in efforts to improve the mining sector.

While speaking at the launch of the portal in Abuja on Thursday, November 9, 2017, the minister said the cutting edge initiative will boost the 'Ease-of-Doing-Business' in the sector as it will prove to be very effective.

He said the portal will be a great source of reliable information about the sector as it will perform business processes such as online mining licences, mineral titles applications and many others.

He said, "The overall objective of the project is to increase provision of reliable information and knowledge, to enhance promotion of investments in the sector, using the technology-driven innovation and to increase the sector's GDP.

"The portal was designed for mining investors to perform business processes such as online mining licences and mineral titles applications, online payment of royalties and fees, database for revenue drive and to block revenue leakages.

"The portal is credible and provides timely information about the mining sector, performs and responds to online queries, business intelligence/analytics, reports and statistical data generation.

"Mining investors could view all existing mining titles and track them anywhere in the world through the portal, access all agencies information, global mining news, live chat and document library, among others.

"Lists of mining operators with valid licences and related minerals trade on private mineral buying centre and renewal of private mineral buying centres could also be accessed through the portal.

"The portal is designed to serve as an input and decision support system to other entities of government MDAs.

"We have spent about N700 million to develop this Integrated Automation and Interactive Geo Information Systems (GIS) Web Portal to improve 'Ease-of-Doing-Business' in the mining sector.

"This event is coming at a very auspicious time, on a broad scale; dividends of this administration's commitment to turning around our economic fortunes."

The Minister of State, Solid Minerals, Abubakar Bwari, assured that the country's mining sector will greatly contribute to the generating revenue as long as the government makes all the smart choices to improve it.

FG's investment in mining sector

Dr Fayemi recently told Reuters in an interview that the government is committed to supporting investors in the exploration of the country's minerals.

In its bid to end the country's major dependence on oil, the Federal Government has been pooling a lot of resources into making the mining sector a very big attraction for investors.

To achieve that, Dr Fayemi had earlier highlighted incentives available to investors in the mining sector to include renewable tax breaks, duty waivers on imported mining equipment, and 100% ownership of business concerns, among others.

ALSO READ: FG grants tax breaks to investors

He had also promised the provision of an initial N2.5 billion loan facility to miners in the country in a bid to encourage local miners and lure investors to the industry.

Do you ever witness news or have a story that should be featured on Pulse Nigeria?
Submit your stories, pictures and videos to us now via WhatsApp: +2349055172167, Social Media @pulsenigeria247: #PulseEyewitness & DM or Email: eyewitness@pulse.ng. More information here.