*Senator Oseni’s* ‘Solid Minerals Devpt Bank’ Bill scales first reading
The Bill seeking establishment of Solid Minerals Development Bank sponsored by Senator representing Kogi Central Senatorial District, Senator Yakubu Oseni has today sailed through first reading at the Red Chamber.
Senator Oseni who is the chairman, Senate Committee on Information and Communication Technology/Cybercrime has argued that the Bill became imperative in view of the urgent need for speedy development of solid minerals producing states in the country.
The proposed Solid Minerals Development Bank is in addition to the lawmaker’s recent call for creation of an independent agency that will spearhead the development of solid minerals producing states.
Senator Oseni who had earlier asserted that as a matter of fairness and development of the country, special recognition should be given to solid minerals producing states, revealed that states like Kogi and Nassarawa have abundant mineral resources in commercial quantities.
Speaking further, the lawmaker disclosed that though both ‘Solid Minerals Producing Areas Development Agency’ and ‘Solid Minerals Development Bank’ Bills are different in design, they are meant to perform complementary functions for the ultimate development of solid minerals producing states.
“The Development Bank will be saddled with responsibility of providing loans and credits for expansion of commercial base of solid minerals in the country. In this case, the proposed Solid Minerals Agency will not run into financial quagmire.
“Therefore, it is better to concurrently deliberate on the two Bills for want of time,” he elucidated.
Senator Oseni however gave assurance that he would continue to lobby his Distinguished colleagues for expeditious passage of the two Bills which he considered very important for the country.
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