The Minister of Solid Minerals Development Dr. Dele Alake urges South African investors and global mining giants to capitalise on Nigeria’s revamped mining sector.
Represented by the Permanent Secretary of the Ministry, Dr. Mary Ogbe, during the inaugural International Investment Forum and Roadshow in South Africa, Dr. Alake emphasised that Nigeria’s improved business climate and ongoing reforms present lucrative opportunities.
The Minister outlined that aggressive promotion of the sector is central to his Seven-Point Agenda, affirming that the strategy has successfully redirected global attention to Nigeria’s mining industry, culminating in increased investments and a significant rise in revenue generation for the country.
“Our vision is to establish a sector where global mining giants—such as Glencore, Rio Tinto, Intro-Africa Mining & Exploration, and Rainbow Mines—recognize Nigeria’s vast mineral resources and collaborate with us to maximize the benefits of these resources for our citizens and economic development of the nation,” the minister added.
He pointed out that the introduction of the Electronic Mining Cadastral System (EMC+) has streamlined the licensing process, enabling a fully digitized application system for mining licenses.
Additionally, the newly launched Nigeria Minerals Decision Support System (NMDSS) offers critical hydrological, geological, and geographical data that will assist potential investors in making informed decisions.
The host of the investment forum, Ag. Nigeria High Commissioner to Nigeria, Ambassador Tope Ajayi, stated that the conference aims to showcase the vast solid minerals potentials of Nigeria to South-African investors, secure valuable collaborations with the ministry and get the needed capital investment that will spur rapid development of the mining sector.
In a related development, representative of the Minister, Dr. Ogbe also participated in a panel session answering questions from diverse investors, sensitising the audience on improved business climate in the mining sector and reeling out incentives for prospective investors.
As a result of these productive engagements which also included private break-out sessions with investors, several companies expressed strong interest in investing in Nigeria.
Many of these companies are expected to formalise partnerships during the upcoming Nigeria Mining Week, which will take place from November 18-20, 2024.
The event will bring together several South African mining companies and financial institutions to further strengthen the cooperation forged at the Johannesburg investment forum.
Olusola Akintonde
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