The Minister of Solid Minerals Development Dele Alake has said that reforms introduced by President Bola Ahmed Tinubu are significantly transforming Nigeria mining sector by increasing productivity and attracting more foreign direct investments into the country.
Alake made this known during the Prospectors and Development Association of Canada conference held in Toronto. He spoke through the Director General of the Mining Cadastre Office, Obadiah Nkom.
The minister addressed participants at the 27th Annual African Mining Breakfast, an important platform that brings together African government officials industry leaders and international investors to discuss opportunities and partnerships in the mining sector.
According to Alake the reforms implemented by the administration are designed to make Nigeria mining industry more transparent competitive and attractive to global investors. He said the government is actively seeking partnerships with credible investors who are committed to responsible and sustainable mining practices in the country.
He also stressed the importance of stronger regional cooperation among African nations to unlock the vast mineral resources across the continent. According to him many promising mining projects fail to reach their full potential because supporting infrastructure such as rail lines power supply and processing facilities are often located across borders.
Alake explained that Nigeria is prepared to support the development of regional mining corridors that will connect mines to processing plants transport networks and export routes. He noted that the country now has improved geological data clear reforms and strong political backing to support major investment projects.
The minister also highlighted the Federal Government commitment to value addition in the mining industry. Instead of exporting raw minerals Nigeria plans to focus more on local processing and manufacturing to increase economic benefits and create jobs for citizens.
During the conference Nigerian officials also met with Paula Caldwell of the Canada Africa Chamber of Business to discuss expanding mining partnerships between Canada and Nigeria.
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