The Ministry of Mines and Steel Development is to receive 6 billion naira from the 2.3 trillion naira proposed by the Federal Government to cushion the effect of the COVID-19 pandemic on the economy.
The Minister, Mr Olamileka Adegbite, stated this in Abuja while interacting with journalists.
The Minister who said the pandemic had disrupted the Ministry’s plan of action acknowledged that it had equally affected other sectors of the economy.
“our ability to go forward on the Ajaokuta Steel project, we are four to five months behind schedule according to government’s plans to resuscitate the complex before the pandemic, it had to put on hold until the lockdown and air travel is lifted”
“the government proposes to spend #2.3 trillion, this is what the government intends to inject into the economy to counter the effect of the COVID-19 pandemic. We are getting 6 billion naira.”
Mr Olamilekan Adegbite said the allotted funds will be used to improve artisanal mining in the country and deepen explorative projects across the country.
Adding that the ministry was determined to take its road shows round the world to attract foreign investors into the country post COVD19.