Nigeria: Minister Woos Investors to Mining Sector

23 October 2019

The Minister of Mines and Steel Development Architect Olamilekan Adegbite has assured investors that the nation is a prime destination for mining activities on the continent.

The Minister said this at an interactive session with Russian investors in Sochi Russia, at a pre-summit meeting preceding the three-day Russia-Africa Summit.

A statement by the ministry said Adegbite told the investors that the nation had several stocks of minerals that could kick start a boom in the mining industry adding that the nation was a prime destination for mining activites on the continent.

"The President of Nigeria has demonstrated a strong resolve to diversify the economy. My ministry's policy thrust is to carry out Mr. President's mandate, creating value chain in the mining sector that would ultimately benefit the citizens. We want to assure our prospective investors that all our reforms shall be steeped in global best practices," he said.

Similarly, the minister addressing investors during the just concluded mining week in Abuja, assured industry stakeholders and investors that he would continue the policy thrust of his predecessor, in order to bring about stability and growth in the sector. "The Roadmap for the Growth and Development of the Nigerian Mining Industry provides us a broad pathway for the transformation of the industry. The ministry does not intend to deviate from the laid down implementation trajectory except if it becomes exceedingly imperative to take certain actions that could fast track the reforms. 'he said.

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