(Ecofin Agency) - The Nigerian government has inaugurated the Board of Solid Minerals Development Fund (SMDF), local news website This Day reports. As Executive Secretary of SMDF was appointed Hajia Fatima Shinkafi.

According to the Minister of Mines and Steel Development, Fayemi Kayode, who proceeded to the inauguration, the reconstitution of the Board is proof that Buhari’s administration is committed to making mining a job creator and a key sector in its diversification strategy.

“We are pleased that this administration’s strategic focus on the mining sector is being justified by the strong sectoral performance that is now being recorded. We trust the capacities of the new board is carefully drawn from active practitioners in the sector, a representative of the Central Bank of Nigeria, and a representative of the Bankers Committee,” Kayode said.

It should be noted that the Federal Government has set up an exploration fund of $500 million to boost mining efforts within the country to qualify and discover lucrative mineral base that is in the ground at the moment.