The Kaduna Chamber of Commerce Industry, Mines and Agriculture (KADCCIMA), has asked the federal government to set up a mining development bank in Nigeria.

KADCCIMA believes that the establishment of a mining development bank would offer the needed support to develop and grow the mining industry in all its ramifications.

The federal government must assure the judicious use of 3% of its revenue to finance the mining sector of the economy.

KADCCIMA president Dr Abdul-Alimi Bello suggests that the federal government of Nigeria should develop and put in place appropriate security network to guarantee the security of lives and property where mining activities take place.

Bello also calls for appropriate measures to be developed to structure the value chain in the mining sector so as to vigorously encourage value addition of minerals in the country, adding that he believes that one way to achieve this objective is to consider a ban on importation of such items.

Banks in Nigeria are encouraged to establish a dedicated desk for support of the mining sector manned by experienced officers who understand the dynamics of the industry.

Further, he believes that the federal government should ensure strict compliance with principles of transparency and good governance in matters of extractive industries and further strengthen the Nigerian Extractive Industries Transparency Initiative, with a view to achieving zero tolerance for unclear transaction in the mining sector.

Bello encourages the Raw Materials Research and Development Council to intensify its efforts in the dissemination of information on mining through all media and in the major Nigerian languages.

“Concerted efforts should also be made by the federal government and other stakeholders to encourage greater participation and involvement of women in the development of mining sector in Nigeria,” he says.