President Bola Tinubu has appointed Martins Imonitie as the new chief executive officer (CEO) of the Nigerian Mining Corporation. The announcement was made by Dele Alake, the minister of solid minerals development, following a federal executive council (FEC) meeting led by Tinubu.

Imonitie is an experienced mining finance expert from Western Australia, renowned as a major global mining centre. Alake stated that the government specifically sought him out due to his extensive background in collaborating with leading international mining companies.

Alake explained the corporation’s ownership model, which aims to reduce government interference. Under this structure, the private sector will control 50% of the corporation, while both the federal government and Nigerian citizens will hold 25% each.

Furthermore, Alake clarified that the government does not intend to create a Solid Minerals Development Bank. He encouraged private sector leaders to lead the formation of a specialised financial institution to support mining operations, emphasising that private ownership would promote equitable access to mining funds without political bias.

In summary, Martins Imonitie’s appointment as CEO of the Nigerian Mining Corporation marks a strategic move towards enhancing private sector involvement in mining. The ownership model designed to limit government influence, alongside the encouragement for private sector financial initiatives, underscores a commitment to a more balanced mining landscape in Nigeria.

Original Source: newscentral.africa

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