The Minister of Solid Minerals Development, Dr. Dele Alake, has called on South African and international investors to tap into Nigeria’s growing mining sector, highlighting the benefits of recent reforms and an improved business climate.
A statement released by the minister’s Special Assistant on Media, Segun Tomori, noted that Alake addressed investors at the inaugural International Investment Forum and Roadshow held in South Africa.
According to the statement, Alake underscored the positive impact of ongoing reforms on Nigeria’s business environment, specifically within solid minerals development.
Represented by the Permanent Secretary of the Ministry of Solid Minerals Development (SMD), Mary Ogbe, Alake stressed Nigeria’s openness to global partnerships aligned with the administration’s renewed focus on sector growth.
He outlined the strategic promotion of Nigeria’s mining sector as a core of his Seven-Point Agenda, noting that this approach has successfully drawn global attention, leading to rising investments and substantial revenue growth.
“Our vision is to establish a sector where global mining giants, such as Glencore, Rio Tinto, Intro-Africa Mining & Exploration, and Rainbow Mines, recognise Nigeria’s vast mineral resources and collaborate with us to maximise the benefits for our citizens and national economic development,” Alake stated.
Among recent reforms, the launch of the Electronic Mining Cadastral System has digitised the licensing process, streamlining mining licence applications for efficiency. Additionally, the Nigeria Minerals Decision Support System offers critical hydrological, geological, and geographical data to aid investors in making informed decisions.
Hosting the forum, Nigerian High Commissioner to South Africa, Ambassador Tope Ajayi, stated that the conference aimed to showcase Nigeria’s extensive solid mineral potential to South African investors, strengthen collaborations with the ministry, and attract the capital investment necessary for sector growth.
Ogbe participated in a panel discussion at the event, briefing investors on Nigeria’s improved business climate and mining sector incentives. Productive dialogues ensued, with several companies expressing keen interest in Nigeria’s mining opportunities.
These engagements, including private sessions with investors, yielded strong interest, with numerous companies expected to formalise partnerships at the upcoming Nigeria Mining Week, scheduled for November 18–20, 2024. The event will bring together South African mining firms and financial institutions to reinforce the collaborations initiated in Johannesburg.
