Video: Varsities get N70m for minerals deposit research

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===Alhaji Abubakar Bwari, the Minister of State, Mines and Steel Development, says the ministry has been able to access N15billion of the N30billion mining intervention fund.

The Federal Executive Council (FEC) had in Nov. 2016 approved N30 billion intervention funds for mining exploration drawn from the Natural Resource Development Fund.

Bwari said with the release of the fund, the ministry would award a N14 billion contract for exploration of strategic minerals.

=====Similarly the Ministry of Mines and Steel Development, says it has concluded arrangements to disburse N70million to some universities to conduct Research and Development of minerals deposits in Nigeria.

Alhaji Abubakar Bwari, the Minister of State said that the fund would be disbursed in the second batch of the programme to universities that present good research proposal in line with the mining roadmap.

====An economist, Mr Titus Okuroumu, has expressed optimism that the new credit policy of the Central Bank of Nigeria will consolidate the gains already made in the economy and stimulate growth.

Okuroumu, a former CBN director, said under the new policy, agricultural, manufacturing and the sectors considered as growth and employment stimulating could now borrow as much as N10billion, long term at consolidated nine per cent interest rate.

======The Apapa Command of the Nigeria Customs Service says it generated N210.2 billion revenue, including N343.4 million on exports between Jan. and July, against N196.7 billion in same period in 2017.

The outgoing Area Controller of the command, Comptroller, Jibrin Musa, put the revenue target for this year at N246.61 billion and attributed the success to the introduction of the Nigerian Integrated Customs Information System (NICIS II) by the Comptroller General of Customs, Retired Col. Hameed Ali.

=======Transmission Company of Nigeria (TCN) says attainment of required frequency control, availability of spinning reserve and expansion of transmission networks are key to stabilising the national grid and improving electricity supply in the country.

The Managing Director of TCN, Mr Usman Mohammed said effort was on-going to stabilise the grid and improve electricity supply via its Transmission Rehabilitation Expansion Plan (TREP).


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