In a virtual address to the Nigeria-Australia Investment Roundtable, Minister of Solid Minerals Development, Dr. Dele Alake, showcased Nigeria’s potential as Africa’s prime mining investment hub.
He highlighted the government’s commitment to creating a business-friendly environment, combating illegal mining, and enhancing security around mining areas.
Dr. Alake announced the establishment of the elite “Mining Marshals” force, comprising 2,220 personnel, which has significantly curtailed illegal mining activities and enforced regulatory compliance.
He also assured Australian investors of Nigeria’s readiness for joint ventures through the impending establishment of the Nigerian Solid Minerals Corporation.
The Minister emphasized Nigeria’s proactive stance towards engaging investors in critical mineral ventures, such as Lithium, Gold, Baryte Lead, and Iron-ore.
He disclosed intensified scrutiny on defaulters of annual service fees to curb speculation and license racketeering. Approval processes for mineral permits and licenses have been streamlined, alongside the publication of monthly mining statistics to foster sector transparency and development.
Dr. Alake urged investors to prioritize Nigeria, highlighting favorable policies, including tax waivers and capital repatriation.
He affirmed the government’s commitment to providing incentives and facilitating ease of doing business under the Tinubu administration.
As Chairman of the African Minerals Strategy Group (AMSG), Dr. Alake emphasized the importance of value addition in mineral exploitation across Africa.
Nigeria’s proactive approach, requiring post-extraction processing plans for mining license approvals, serves as a model for promoting value addition policies continent-wide.
Dr. Alake called on African nations to unite in advocating for value addition, believing that embracing this policy will yield mutual benefits for investors and host countries alike.
With Nigeria poised to become Africa’s mining investment hub, the Minister’s address has sent a clear message to investors: Nigeria is open for business!
