The Nigerian Government says investors in the mining industry are expected to sign Community Development Agreement with the communities in the mining area to ensure the socio-economic development of the region makes a positive impact on the people.
Minister of Solid Minerals, Dr. Oladele Alake stated this while welcoming investors from the Republic of Mexico to his office in Abuja, the nation’s Capital.
Dr. Alake praised the decision of the investors to visit Nigeria in search of investment in solid minerals.
He said the administration of President Bola Ahmed Tinubu has put in place, incentives, to ease business for investors in the industry.
The Minister said the incentives include zero duty on equipment imported for solid minerals extraction, easy movement of profits to the countries of origin and tax holidays.
Dr. Alake further said the administration is currently sanitising the industry citing the recent revocation of titles which failed to comply with the law on annual service fee.
Introducing the investors, Nigeria’s outgoing Ambassador to Mexico, former Speaker of the Osun State House of Assembly, Adejare Bello assured the Minister that the embassy has screened the investors and confirmed that they are genuine and serious businessmen whose investment will boost the economy.
“The Honourable Minister is aware that ambassadors have been recalled. This visit is the reason why I stayed back so that I can bring them to you. Now, that i have achieved my mission, I will go back, pack my luggage and return home‘ he said.
Speaking on behalf of other investors, President, Seccion Internacional Para Africa, Dr. Heriberto Garcia Cortes said that they see Nigeria as their African home that deserves all the support in the quest to expand the economy.
Mr. Cortes further said the meeting with the Minister has helped to chart the way and given the assurance that their investment will be safe and profitable in the country.
