Babatope Agbeyo, chairman of Gem Giant Ltd, has encouraged foreign investors to focus on Nigeria for investments, particularly in the mining sector, citing its conducive and secure environment. Following a successful Community Development Agreement (CDA) with the Faforiji Community in Osun State, he urged state governments to foster a supportive atmosphere for mining to ensure economic growth for communities and the nation as a whole.

Agbeyo highlighted the need for state governments hosting mining firms to ensure safety and security for both employees and local residents during operations. He also called for government assistance in resolving disputes that may arise. Moreover, he urged mining companies to comply with regulations and conduct thorough Environmental and Social Impact Assessments (ESIA).

The King of Faforiji community, Oba (Dr) Adebayo Faforiji, praised Gem Giant for recognising the community’s mining potential. He expressed optimism for discovering gold and other minerals in viable quantities to benefit both the company and the local populace. The community has been waiting for assistance to explore its mineral resources, and the involvement of a local company is viewed as a promising step forward.

The event culminated in the foundation laying of Gem Giant’s office in Faforiji, with the king officiating. With the CDA in place, Gem Giant Ltd is prepared to initiate exploration activities, prioritising the well-being of the community while adhering to international standards for environmental and social responsibility.

Foreign investors are encouraged to invest in Nigeria’s mining sector, benefiting from a secure environment and community support. State governments must continue to facilitate a conducive investment climate, while compliance with regulations is essential. The successful CDA between Gem Giant and the Faforiji community marks a significant step towards exploring local mineral resources, promising benefits for both the company and the community.

Original Source: businessday.ng

The post Why Foreign Investors Should Prioritise Nigeria for Mining Investments first appeared on Nigerian Mining News.