FG undertakes to invest N2.5 Billion in DFIs for Small Scale Miners

FG undertakes to invest N2.5 Billion in DFIs for Small Scale Miners
July 24, 2017 Advocaat Law Practice

In a bid to encourage small-scale miners, the Federal Government through the Federal Ministry of Mines and Steel Development (the Ministry) has announced its resolution to invest about N2.5 billion in Development Finance Institutions (DFIs) as a pilot project to support small-scale miners with the potential of being transitioned into more established miners. This investment aims to assist with the provision of loans to small-scale miners at significantly low interest rate.