Osinbajo optimistic mining sector will grow to $27bn by 2020

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Acting President, Pro Yemi Osinbajo has said the federal government is optimistic that by 2020 the contribution of the Mining sector will grow to $27 billion, Daily Trust reports.

Speaking yesterday at the National Mining Summit in Abuja, Osinbajo said the government will achieve that through the creation of an enabling environment, bringing new entrants and easy access to finance to the artisanal miners and small holder players.

“To encourage new entrants and more investors the federal government is working to ensure the implementation of the three year tax holiday for investors in the mining sector,” Osinbajo assured. He said the Buhari administration has already released the sum of N30 billion from the Natural Resource Development Fund and secured about $150 million from world Bank for the sector.