A consortium of Chinese investors has pledged an initial investment of $500 million in Nigeria’s solid minerals sector, focusing on mining projects across Zamfara, Kebbi, and Nasarawa states.
The commitment was made during an interactive session with the Senate Committee on Solid Minerals, where federal lawmakers assured the visiting delegation of strong legislative backing.
The investors, led by Mr Chen Twan of Zong Hong Kotai Group, said the group plans to inject an additional $500 million depending on the outcome of their initial activities.
“If we test the waters and see that it is good, we will attract more investors to Nigeria to invest in minerals deposits,” Mr Chen said. “Our company specialises in mining and bitumen, and we have invested extensively across the globe. On that strength, we have come to Nigeria to survey the possibility of investing in the mining and industrial park sectors in your country.”
Acting Chairman of the Committee, Senator Onawo Mohammed Ogoshi (SDP – Nasarawa South), assured the delegation that Nigeria’s legislative framework would evolve to accommodate their interests.
“Our laws on solid minerals exploration are very robust. We intend to make it more robust by amending some of the laws that are obsolete,” he stated. “The Nigerian Senate is supposed to give you all the necessary encouragement to bring this huge amount of money to our economy.”
Senator Adamu Aliero, another member of the committee, also threw his weight behind the Chinese venture. “You have come at the right time when the country is venturing into diversifying her economy. We had a mono-economy before now, where we depended heavily on oil for foreign exchange,” he said.
Aliero pledged to work with key institutions to facilitate the ease of doing business. “We will liaise with the Ministry of Solid Minerals, the governors and traditional institutions to ensure you have free access to your areas of operation.”
Mr Adamu Tah, Managing Director of El-Tahdam Exploration Limited and local partner to the Chinese firms, noted that extensive groundwork had already been done. “They are not coming to Nigeria on their own; they are building on the licences we have acquired. We have visited their factories, know their processes, and trust them.”
Tah added: “With Senate’s support, they still want to invest more money into this venture. If this first phase scales through, they intend to invest another $1 billion into the solid minerals sector.”
