The Senate on Tuesday approved the bill seeking to establish an agency for the development of solid mineral resources in Nigeria.
The bill among others seeks to encourage investment and foreign exchange earnings for the country.
Tagged “A Bill for an Act to establish the Nigerian Mineral Development Corporation to invest and catalyze investments in the mining sector, to promote and support mining sector growth and for all related matters,” it was sponsored by Senator Tanko Al-Makura, representing the Lafia–Obi Federal Constituency of Nasarawa State.
Expectedly, the legislation received unanimous support and contributions from the Senators.
Many of the lawmakers had lamented that the country was losing billions of dollars daily to foreign miners who are apparently taking undue advantage of the lack of such a coordinating agency.
Senate President, Ahmad Lawan, subsequently referred the bill to the Senate Committee on Solid Minerals for further legislative work.
The committee is expected to give its feedback to plenary in four weeks.
