The Nigerian government has implemented significant reforms to attract more investment into its mining industry, offering a range of incentives to appeal to both local and foreign investors. Key reforms include granting foreign investors 100% ownership of mineral assets, providing tax holidays of up to five years for new mining projects, and exempting mining equipment
Nigeria’s mining sector has experienced a surge in Foreign Direct Investment (FDI), driven by reforms designed to create a business-friendly environment. In 2022, the sector attracted over $400 million in FDI, marking a 35% increase from the previous year. Key investments have focused on the extraction of gold, iron ore, and critical metals essential to
With an increasing population and a growing demand for metals and minerals, mining is playing an increasingly important role in the global economy. But until firms adopt sustainable mining practices, they will keep having a detrimental impact on the environment and society. Thankfully, a few mining sector participants are starting to take action against the
The Minister of Solid Minerals Development, Dr. Dele Alake, commended African Natural Resources and Mines Limited (ANRML) and its Managing Director for its significant foreign investment in Nigeria’s minerals sector, recognized as the largest direct investment. Dr. Alake emphasised the importance of local value addition, a cornerstone of his seven-point agenda, and praised ANRML for
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