BoI to boost mining sector funding

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The acting Managing Director, Bank of Industry (BoI), Mr. Washed Olagunju pledged to increase funding support for the mining sector. Speaking in Abuja on the sidelines of the International Mining Investment Conference, he said such intervention had become inevitable given the present administration efforts to diversify the country revenue base.

He said the bank had reached out to other financial institutions both within and abroad to mobilise funding to promote mining activities in the country.

Olagunju said the current efforts by government, in collaboration with the private sector to come up with credible data on mining deposits in the country will not only help investors make credible investment decision, but also aid donor agencies grant decision.

He said: “We are aware that our government and the private sector are now collaborating to produce the data. Once the credible data is produced, we will be able to catalyse more investment resources into the country, particularly from abroad.

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