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Zamfara Eyes Gold To Boost Economy

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Zamfara Eyes Gold To Boost Economy

By Abba Kabara, Gusau.

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With the COVID-19 pandemic dealing seriously with economies of the 36 states of Nigeria, the Zamfara State Government is currently looking at the direction of gold to oil its economy.

To this end, the government is establishing a gold reserve asset as a guarantee to keep the state economy afloat.

Governor Bello Muhammad Matawalle who made this bold plan known in a press briefing on Wednesday says the establishment of the gold reserve is the first of its kind in the whole federation.

He said he wants inform the nation and the world at large of his strategic decision on the opening   of the gold reserve and the multiple benefits that will accrue to the citizens of the state and the future generation.

“This strategic decision is part of the efforts designed to prop up the economy of the state and guarantee the economic and social wellbeing of our people now and in the future”,  he stressed. .

For a start he said his government has purchased 31 kilograms of gold, which according to him,  was “wholly mined and processed by our artisanal miners”,  adding  that  his administration  will subsequently continue to buy gold from local miners to gradually improve the reserve”. 

Giving the assurance that the precious metal would be deposited in a select bank, Matawalle reasons that though Zamfara like other states of the federation is grappling with competing demands from the public when the resources at government disposal are meagre, “we feel it is of utmost significance to invest in the future of our people”

Zamfara Eyes Gold To Boost Economy

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