The Bank of Industry has promised to increase the level of funding support to the mining sector in order to improve the sector’s contribution to the Gross Domestic Product.
The Acting Managing Director, BoI, Mr Waheed Olagunju, stated this while speaking at the sidelines of the International Mining Investment Conference which was held in Abuja.
He explained that the plan to increase funding to the sector was part of efforts aimed at supporting the quest of the federal to diversify its revenue base.
He said the bank had reached out to other financial institutions both at home and abroad to mobilise funding to promote mining activities in the country.
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 catalyze more investment resources into the country, particularly from abroad.
“A lot of international financiers and investors are willing to operate in Nigeria in partnership with the Bank of Industry.”
On the viability of the development finance institution to mobilise funding support for the mining sector, Olagunju said that the bank had a high credit rating.PUNCH
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