The federal government through the Ministry of Mines and Steel Development is set to launch its made in Nigeria Barite as part of plans set to develop the downstream policy of the mining sector.
The Minister of Mines and Steel Development Arc. Olamilekan Adegbite stated this Monday, while briefing press on the launch of the made in Nigeria barite scheduled to hold in Port Harcourt on Thursday, 28th October, 2021.
According to him, the launch of the made in Nigeria Barite, which has been refined to meet the American Petroleum Institute specification, shows the Ministry’s determination to ensure that the downstream policy of the sector is actualised.
He added that “Spending billions to import barite will stop. No country ever develops by selling raw materials. Nigeria will generate more economic value by processing it’s raw materials,” he said.
The minister stated that to ensure continuity, it will Commission an Open Market Place Portal that will link all stakeholders along the barite value chain, stating that the portal would encourage miners as they can now compete internationally.
On his part, Minister of State Mines and Steel Development Dr Uchechukwu Sampson Ogah noted that the initiative would create great development opportunities for the miners as well as create employment in the country.
He reiterated the ministry’s resolve to ensure that President Muhammadu Buhari’s administration’s mandate to move the economy from oil to mining and agriculture is achieved.