‘Private investment in mining sector hits $2.32 billion’

FG suspends $400 surcharge by shipping firms
Minister of State for Mines and Steel Development, Abubakar Bwari, has said that private investment into mining projects is estimated at $2.32 billion in the country.
 
Bwari, who disclosed this during the three-day 3rd yearly Nigeria Mining Week organised by the Miners Association of Nigeria in partnership with PricewaterhouseCoopers and Spintelligent in Abuja, also added that the investment was made possible due to government’s friendly mining climate such as gold mining and refining, lead/zinc exploration and production.
 
He said: “Mining in Nigeria is private sector driven with the Federal Government restricted to regulatory and facilitation roles. There is no better time to invest in the sector than now.”

In another development, the Nigerian Shippers Council (NSC) yesterday suspended the $400 surcharge imposed by some shipping companies on Apapa and Tin Can Island Ports.

The NSC Executive Secretary, Mr. Hassan Bello, who disclosed this to journalists in Abuja, said the charge was suspended after a meeting with shipping companies that introduced it in Lagos.

“They cannot just charge arbitrarily. The shippers’ council opposed the charges, especially because of the economy. Secondly, the procedure is wrong, you can’t slam charges without telling us.”

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