Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, urged global mining investors to seize the opportunities in Nigeria’s growing mining sector during the International Investment Forum in South Africa. Highlighting ongoing reforms and improved business conditions, the minister emphasized Nigeria’s readiness for international partnerships. Several companies have expressed interest in investing, with formal agreements expected at the upcoming Nigeria Mining Week in November 2024.
Dr. Dele Alake, Nigeria’s Minister of Solid Minerals Development, has encouraged global mining investors, particularly from South Africa, to explore the burgeoning opportunities in Nigeria’s mining sector amid ongoing reforms aimed at enhancing the business environment. Speaking at the inaugural International Investment Forum and Roadshow in South Africa, the minister emphasized the Nigerian government’s commitment to establishing fruitful partnerships with international mining corporations. This initiative aligns with his Seven-Point Agenda, which is focused on promoting the mining sector as a vital component of Nigeria’s economic resurgence. The Minister elaborated on the recent changes, such as the introduction of the Electronic Mining Cadastral System, which has modernized the licensing process, thus improving the efficiency of mining license applications. Furthermore, the Nigeria Minerals Decision Support System offers potential investors essential data regarding the country’s geological, hydrological, and geographical resources, supporting informed investment decisions. Ambassador Tope Ajayi, the Nigerian High Commissioner to South Africa, noted that the forum’s objective is to showcase Nigeria’s mineral wealth and secure essential partnerships for capital investment necessary to advance the mining industry. In a related discussion, Mary Ogbe, the Permanent Secretary of SMD, highlighted the improved business climate and available incentives that have significantly attracted interest from numerous companies. Several firms are anticipated to formalize investment agreements during the upcoming Nigeria Mining Week scheduled from November 18-20, 2024, which aims to consolidate the relationships established at the Johannesburg event.
Nigeria’s mining sector has seen a timely transformation, underscored by government reforms designed to attract foreign investment and promote sustainable economic growth. The Ministry of Solid Minerals Development is actively working to improve the business environment, greatly enhancing the appeal of the country’s vast mineral resources to international companies. Events such as the International Investment Forum provide platforms for dialogue among global investors and government officials, fostering collaboration that is essential for advancing the mining industry. The government’s strategic focus on leveraging the country’s mineral wealth while ensuring transparency and efficiency in mining operations reflects a shift towards sustainable practices. The introduction of digitized processes streamlines operations, making Nigeria an increasingly attractive destination for investment in the mining field, particularly from established mining sectors worldwide.
The Nigerian government, through its Minister of Solid Minerals Development, is extending an invitation to global investors to engage with its growing mining sector. Recent reforms and initiatives demonstrate a strong commitment to creating a conducive investment environment, characterized by improved licensing processes and strategic partnerships. The anticipated Nigeria Mining Week promises further opportunities for collaboration between Nigerian authorities and international mining companies, thereby bolstering the sector’s contribution to national economic growth and sustainability.
Original Source: punchng.com
