The Minister of Mines and Steel Development, Mr Olamilekan Adegbite, has said that the world is exploring environmentally friendly sources of energy and moving away from fossil fuel, noting that Nigeria needs to prepare for the use of electric cars.
The minister said this at an interactive session between the Federal Government and the State Governments on Tuesday in Lagos.
According to him, the engagement is part of efforts to ensure that investors coming into the country are not faced with multiple barriers after being licenced by the federal government to do business in the mining sector.
Adegbite said that though mining was in the exclusive list, some state governors were trying to take advantage of the minerals discovered in their states to grow their revenue base without following due process.
He said that the federal government was engaging such governors to show them it is better to let the funds from such minerals come into the federation account so that they could benefit through the 13 per cent derivation fund, which some were already benefiting from.
Adegbite added that all over the world, investors were aware of the mining potential of Nigeria but wanted to be sure that they would get value for their money.
