The Federal Government of Nigeria has obtained a credit from the International Development Association (IDA) to fund the Mineral Sector Support for Economic Diversification (MinDiver) Project. The project has the following development objectives:
- To improve the attractiveness of the Nigerian Mining sector, as a driver for economic diversification, for long-term private sector investment in the exploration and production of minerals.
- To create a globally competitive sector capable of contributing to wealth creation, providing jobs and advancing our social and human security.
The key results of the project will include:
- Increased availability of precompetitive geo-science data enhancing mineral transactions;
- Institutional information systems integrated with multi-sector planning tools;
- Incentives created for Artisanal and Small-Scale Mining (ASM) formalization;
- Improved environmental and social compliance by mining industry operators
This technical assistance project intends to improve governance and the enabling environment of the mining sector. While it would help to create a more favorable enabling environment for the expansion of large-scale mining as well as ASM in Nigeria, the project would also seek to ensure that the accompanying environmental and social challenges are adequately addressed. For this reason, the project is supporting the preparation of a mechanism for Citizen Engagement, Social Accountability and Stakeholder Engagement Plan for the MinDiver Project and the mining sector in Nigeria.