As part of efforts to improve on the mining sector in Nigeria, the country is about to receive help from the international community on ensuring that there is transparency in the transactions in the sector. To this end, the World Bank has has given an assurance to partner with the Mining Cadastre Office (MCO) to strengthen Nigeria’s mining sector and boost its contribution to economic growth and development. This was disclosed during a visit by a delegation of the World Bank, led by Noora Arfaa, Senior Operations Officer (Energy and Extractive), to the MCO in Abuja.
The discussions between the organisations focused on areas of mutual interest, including leveraging technology to enhance the efficiency and transparency of mining operations in Nigeria. Arfaa acknowledged the MCO’s contributions to transforming Nigeria’s mining sector through digitalisation and transparency initiatives, reiterating the bank’s commitment to supporting Nigeria’s development goals, particularly in the extractive sector.
The Director-General of the MCO, Obadiah Nkom, said the administration of President Bola Tinubu remained committed to repositioning the mining sector to contribute significantly to Nigeria’s GDP. Nkom added that the discussions aimed to ensure the sector’s optimal contribution to the economy while promoting sustainable practices to ensure environmental protection and social responsibility.
The World Bank’s visit aimed to explore potential collaborations and support Nigeria’s mining sector to become a significant driver of the nation’s economy. The partnership between the World Bank and MCO is expected to enhance the efficiency and transparency of mining operations in Nigeria.
