In what has been described as a milestone in the quest for local content development and national economic diversification, the Federal Government will, on Thursday, launch Made-in-Nigeria barite, the Minister of Mines and Steel Development, Arc Olamilekan Adegbite has said.
The Minister, who spoke at a recent pre-event press briefing in Abuja, said the Nigerian barite was the result of strategic effort of the ministry of mines and steel development to
actualize its “mandate to move the economy from dependence on crude oil and grow the Gross Domestic Product of the country,” adding that the development of the downstream policy of the mining sector is one of the cardinal objectives of government.
A statement from the ministry, signed by Tine-Iulun M.A, disclosed that the launch of the made in Nigeria Barite is scheduled to hold in Port Harcourt on Thursday, 28th October, 2021.
According to the minister, the launch of the made in Nigeria Barite, which has been refined to meet the American Petroleum Institute specification, shows the determination of the ministry to ensure that the downstream policy of the sector is actualized, adding that “no country ever develops by selling raw materials.” He was optimistic that Nigeria will generate more economic value by processing her raw solid materials.
He said the made-in-Nigeria barite, which has been locally mined, milled and bagged, would shore up about $300 Foreign Reserve for the country, stating that it will end the capital flight of “spending billions to import barite.”
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 the development would create needed development opportunities for miners as well as create employment in the country.
Dr. Ogah reiterated the Ministry is working to ensure that the administration of President Muhammadu Buhari achieves economic diversification by taking advantage of the economic potentials of Mining and Agriculture.
Permanent Secretary in the ministry, Dr. Mrs Oluwatoyin Akinlade, commended the Ministers for their leadership that led to the successful production of the made in Nigeria Barite.
