First Bank of Nigeria (FBN) Plc has restated its commitment to increasing funding support towards the development and growth of the mining sector.
The mining industry in Nigeria is 70 percent artisanal, the miners could be more productive if they are structured.
Temitayo Osundosumu, the bank’s Group Head for Corporate Banking and Energy (Upstream and Midstream), claimed that the resolution was in keeping with the institution’s efforts to support the current administration’s agenda for economic diversification.
Speaking on a panel at the Nigeria Mining Week in Abuja, which had the theme “Profiling Nigeria’s Strengths: Achievements and Focus Areas,” he said that the bank would give the growing industry the support it needs to be profitable.
First Bank is available for business and will always support the mining industry, according to Osundosumu. So, we’re eager to get started. We are able to help, and we will do so for Nigeria’s mining sector. We need to talk to the miners.
The Nigerian government has “been putting all its political will and weight behind the promotion of the sector and believes the industry is well positioned to support supply chain diversification and the security of supply on a global scale.
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