The Nigerian Senate has reaffirmed its commitment to economic diversification through the solid minerals sector, pledging to create an enabling legislative environment for foreign investors. This comes on the heels of a planned $1 billion investment by Chinese mining companies, starting with an initial $500 million spread across Zamfara, Kebbi, and Nasarawa states.
Speaking during the Senate Committee on Solid Minerals’ engagement with the Chinese delegation, Senator Onawo Mohammed Ogoshi said the Red Chamber is poised to strengthen the legal framework guiding mining operations in the country.
“We intend to amend obsolete laws and enact new ones that will give your companies better protection in doing good business in Nigeria,” he said. “We want to attract more investors who will explore our vast solid mineral potentials responsibly.”
The Senate’s message was reinforced by Senator Adamu Aliero, who stressed the significance of mining in the country’s economic roadmap. “The federal government has realised we have no better choice than to explore other revenue sources. Solid minerals is one of the sectors with massive potential,” he said.
“We will do all we can to facilitate your involvement in this sector. We’ll secure licenses and collaborate with state actors to ensure smooth access and operations.”
El-Tahdam Exploration Limited, a Nigerian firm partnering with the Chinese companies, played a pivotal role in the investment process. Managing Director, Mr Adamu Tah, explained that the Chinese partners had done due diligence and would be building on existing mining licences held by Nigerian companies.
“They are coming based on the investigations they’ve done and our credibility,” Tah said. “We introduced them to local institutions to give them full confidence in the Nigerian business climate.”
The strategic interest in Nigeria’s solid minerals comes at a time when global demand for rare earths, gold, lithium, and bitumen is rising. The investors also hinted at future interests in Nigeria’s industrial park sector.
Mr Chen Twan said: “We are also exploring opportunities in Nigeria’s industrial park development. As international investors with global mining experience, we are keen to contribute to Nigeria’s industrial transformation.”
