Attracting Investors: Nigeria’s Mining Sector Holds Great Potential
The 21st Africa Down Under conference held in Perth, Australia, concluded with an optimistic outlook on Nigeria’s mining industry. The Minister of Solid Minerals, Mr. Dele Alake, presented a compelling case for investing in the sector, emphasizing the need for the Nigerian Solid Minerals Corporation to facilitate global investment in Nigeria.
Mr. Alake highlighted the favourable legal framework that allows investors to repatriate their earnings, providing a sense of security for potential investors. He also emphasized the importance of geoscientific research in assessing Nigeria’s mineral resources, particularly the significant lithium reserves, which have become crucial in the electric vehicle industry. Highlighting successful investments in lithium extraction, Alake underscored the vast potential in Nigeria for such valuable minerals.
In terms of security, the Minister assured investors of their safety, highlighting the government’s measures to combat illegal mining and criminal activities in the sector, thus creating a conducive operating environment.
Dr. Stevens Davies and Partner, Hugh Morgan of Basin Limited, reiterated the accessible nature of lithium deposits in Nigeria and mentioned a promising nickel project in development within the country. These sentiments were echoed by investors at the conference, including Mr. David Gardner, who expressed renewed interest in investing in Nigeria’s mining sector.
High-profile figures at the event, such as Mr. Guy Le Page, Director of RM Capital, and Mr. Ossama Aasriou, Head of Procurement, Distribution & Marketing at CTA Group, added to the overall positive reception of the initiatives being taken to attract investors to Nigeria’s mining sector.
The collective enthusiasm from investors and industry professionals serves as a testament to the appeal and potential profitability of Nigeria as a destination for mining investment.
Overall, Nigeria’s mining sector appears to hold abundant opportunities for investors and is poised to become a significant player in the global mining industry. With ongoing reforms and favourable conditions for investment, the future looks bright for mining in Nigeria.
