By Fatima Saka
Solid Minerals Development Fund (SMDF) is seeking partnership with the Nigeria Senate to mitigate against the current situations of the nation’s economy.
The Executive Secretary and CEO of Solid Minerals Development Fund, Mrs Fatima Umaru Shinkafi made this known on Thursday to the newsmen after a successful meeting with the Senate Committee on Sold Minerals, chaired by Senator Ekong Sampson, in Abuja.
Mrs. Fatima said that the robust engagement with the Senate will grow funds for the nation to impact the societies and create more jobs. “We gave a brief information of where we are and where we want to be.
“And the support that we need from them and the partnership that we want to forge with the Legislative Arm.
“The committee was very helpful. They listened. They asked questions.
And that collaboration is a work in progress that will continue, It’s not a one-off visit,
Speaking on the plans to leverage on the current situations confronting the country’s economy, The Executive Secretary and CEO of SMDF expressed that with the spiraling situation of the Naira, the fund will increase the critical mass of investment and export proceeds, “we can increase our dollar inflow. It will strengthen the Naira and if we mop up the minerals we have using the supply of Naira that we have access to, it’s like an exchange or a swap for foreign exchange and that inevitably will bring down the cost of the dollar in the country.
“Last year we signed a key partnership agreement with the African Finance Corporation to fund Greenfield Exploration, which is a data-driven project that will attract investment into the sector.
“And we have several artisanal projects as well. 80% of the sector is currently artisanal, and we have to look at that. So yes, SMDF has taken off.”
