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MMSD set to develop the downstream sector

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From DORCAS  PANKYES, Abuja

THE Ministry of Mines and Steel Development in actualising its mandate to move the economy from dependence on crude oil and grow the Gross Domestic Product of the country, is set to develop the downstream policy of the sector by launching the made in Nigeria Barite. This was contained in a statement signed by Tine-Iulun M.A, head Press public and Relations unit.

The Minister of Mines and Steel Development Arc. Olamilekan Adegbite disclosed this while briefing the press in the Ministry’s Headquarters yesterday, Tuesday 26 October, 2021 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 “no country ever develops by selling raw materials. Nigeria will generate more economic value by processing it’s raw materials”.

Continuing, the minister stated that the made in Nigeria Barite which has been locally mined, milled and bagged, would shore up about $300 Foreign Reserve for the country. He said, “spending billions to import barite will stop”.

The minister disclosed 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.

In his remarks, the Minister of State, Mines and Steel Development, Dr. Uchechukwu Sampson Ogah, noted that this feat would create great development opportunities for the miners as well as create employment in the country.

Dr. Ogah reiterated the ministry’s resolve to ensure that the President Muhammadu Buhari’s administration’s mandate to move the economy from oil to mining and agriculture is achieved.

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