Ayanleke lauds re-appointment of Fatima Shinkafi as SMDF/PAGMI boss, tasks her on  ₦2.5b intervention fund, others

*Photo: Hajia Fatima Umaru-Shinkafi,  Executive Secretary of SMDF/PAGMI*

President of Miners Association of Nigeria, Mr Dele Ayanleke has commended President Bola Tinubu on the re-appointment of
Hajia Fatima Umaru-Shinkafi as the Executive Secretary of the Solid Minerals Development Fund (SMDF) and the Presidential Artisanal Gold Mining Initiative (PAGMI).

The commendation was contained in a press statement issued on Sunday by Ayanleke and made available to TheMiners Online.

While describing the re-appointment as well-deserved, Ayanleke urged the SMDF/PAGMI Executive Secretary to see the development as an opportunity for her to further
impact positively on the Nigerian Mining sector.

In particular,  he urged her to work closely with the Minister of Solid Minerals Development, Dr Dele Alake, to ensure the judicious utilization of the ₦2.5b FG intervention support for artisanal and small-scale mining (ASM) operators when the money is eventually repatriated from the Bank of Industry (BoI).

Ayanleke also tasked her to ensure that the SMDF/AFC (Africa Finance Corporation)
collaboration  injects the much needed investments into the mining sector while also exploring further opportunities for similar collaborations with other agencies.

Read the full press statement below:

HAJIA FATIMAH SHINKAFI: A WELL DESERVED REAPPOINTMENT

I wish to express my appreciation to His Excellency, President Bola Ahmed Tinubu, GCFR, on the renewal of the appointment of Hajia Fatimah Shinkafi, as the Executive Secretary of the Solid Minerals Development Fund (SMDF) and the Presidential Artisanal Gold Mining Initiative (PAGMI).

While congratulating our dear sister, Madam Shinkafi, on this well deserved renewal of her appointment, I wish to implore her to see the reappointment as a Divine call, not only to work towards ensuring that the SMDF/AFC collaboration close deals that will inject the much needed investments into the sector in the most pragmatic terms, but to explore further opportunities for similar collaborations, especially toward the funding of the small scale lease holders, whose operations offer huge opportunities for massive wealth creation and poverty alleviation.

Further still, as the Honourable Minister, Dr Henry Oladele Alake, moves toward ensuring the repatriation of the ₦2.5b FG intervention support for upgrading the capacity of ASM operators, currently idling away and depreciating in value in the vault of Bank of Industry (BoI) for close to a decade, it is expected that, under her watch, the SMDF will work closely with the Honourable Minister to ensure the judicious utilization of the fund to remarkably achieve its purpose, despite the current state of our currency.

I will also seize this opportunity, on behalf of the Nigerian miners, to implore the FG on the need to review the operational guidelines of the SMDF with the view to upgrading its status as the premium financial institution for the mining sector.

This counsel becomes imperative in view of the reluctance of most of Nigerian financial institutions to develop products and create special desks that will be manned by staff specifically trained to handle the intricate peculiar nature of mining financing, to upgrade the capacities of indigenous operators and resurge a regime of mining infrastructure to incentivize the much needed big investors to the industry.

While pledging our readiness to work with the Executive Secretary in her onerous assignment, it is also expected that she will collaborate more with critical stakeholders in her policy formulation and strategic actions to reposition the Fund in bridging the gap in mining assets financing.

Once again, I congratulate you and wish you a most fruitful and successful tenure.

‘Dele Ayanleke,
National President,
Miners Association of Nigeria.

Abuja, 6th December, 2024.