Bank of Industry to Invest in Mining, Signs MOU with Laurel School of Mines

Federal financial institution Bank of Industry signed a Memorandum of Understanding with Laurel School of Mines yesterday; 28^th of November 2016 at the BOI head office situated at 23 Marina Street, Lagos, Nigeria.

The MOU will seal a progressive partnership deal between both parties as Laurel School of Mines; an institution established to train thousands of youths across Nigeria in mining is set to exploit the vast solid mineral resources across the country, hence securing a brighter future for the youths and the economy at large.

Speaking on the importance of mining, the CEO Laurel School of Mines Mr. Tope Adebanjo remarked; “Nigeria is very rich in mineral resources, it’s high time we started adding value to them. The gemstones derived from them are worth a fortune, and we intend to train our youths, to enable them benefit from this”.

Mr. Tope Adebanjo further emphasized on the importance of mining; concluding one of the gemstones could cost a whopping sum of $90,000 or more.

Acting Managing Director BOI Mr. Waheed Olagunju who signed the MOU also had this to say “Solid mineral resources are available all over the country. The gemstones are there – all you need to do is procure them and add value to them. You can amass a fortune from this within a very short period of time – a shorter period of time; compared to other sectors”.

Bank of Industry is prepared to financially fund the students after their extensive training at Laurel School of Mines.

A number of gemstones were displayed for viewing at the venue, with various equipment used in processing them.

The collaborative effort isn’t only aimed at providing employment opportunities for the youths but also for restitution of the nation’s economy and the slowly eroding mineral resources sector.