In a bid to diversify the economy, the Nigerian government is deliberately creating the enabling environment that can attract foreign direct investment in the country, the Minister of State, Solid Minerals, Abubakar Bawa Bwari has said.
He said previous regimes did not pay the desired attention to the solid minerals sector, and this led to the crippling of the sector. But with the renewed vigor with which the present administration is looking at the sector, it will soon start booming, he says.
He made this known at the Federal Government’s Special Hausa Language Town Hall meeting in Kano State, North West Nigeria on Friday.
“We are going to develop the sector in a climate friendly manner with serious attention to the issues of environment and other related harzards. We have the enabling laws to make the sector thrive and also attract investors both local and foreign.”
He said the investors were “around in the past but the indigenization policy some of them vacate the sector and the sector is a huge one; it is capital intensive; it is just like oil and gas which needs huge investment. Without these huge investors, we can drive it to the fullest capacity.”
He said Nigeria has over 1 trillion deposits of coal which could be used for electricity generation and that the country is the second highest capacity of Bitumen in the world.
Also, the Minister for State, Industry, Trade and Investment, Aisha Abubakar said that in her Ministry, one of their greatest strategies was putting up laws and policies that would encourage investors.
She said the government had the interest of the nation at heart and that whatever any investor wanted to do, the interest of the country and her people would also be protected.