The Ministry of Mines and Steel Development has exceeded its N7 billion revenue target for the year 2022.
The Ministry said by December 2022, it would hit an excess of N10 billion.
This was disclosed by the Minister, Olamilekan Adegbite on Thursday when he visited the News Agency of Nigeria in Abuja.
The Minister said the initial N7 Billion target was exceeded in September, stressing that the ministry had the capacity to contribute more to the country's economy.
He noted that at the moment, the ministry contributes one per cent to the country's economy.
He added if properly funded and developed, it could contribute up to ten per cent to the economy.
Adegbite further expressed optimism for the ministry to achieve its set target of three per cent by 2025.
“We have exceeded our revenue target for the year as of September.
"The target for the year was put around N7 billion.
“I think that by the end of the year, we might hit N10 billion.
“I believe this is growing from a paltry sum of two billion in 2015.
"Last year, we made nine billion.
“Yes, N10 billion is too small when you look at the overall revenue of the government but it is a giant lead for us.
“From two billion Naira, we have gone to N10 billion,’’ he stated.
Adegbite further revealed that the ministry was collaborating with other ministries and agencies, including the Nigeria Export Promotion Council (NEPC) and the Ministry of Industry, Trade and Investment to improve the mine and steel sector.
He mentioned other collaborators such as the Ministry of Interior and Nigeria Customs Service (NCS) to achieve more in the sector.
Meanwhile, the Managing Director of NAN, Buki Ponle, commended the minister’s efforts towards achieving the target while ensuring the equitable distribution of solid minerals among states.
0 Comment(s)
SPONSORED
HEADLINE
TRENDING