Industry MDAs News

Nigeria Committed to Investors Friendly on Mining Potential- Minister

By JAMES EZEMA

Federal Minister of Mines and Steel Development, Arc. Olamilekan Adegbite, has said that the efforts of the Federal Government to make the Minerals Sector attractive to investors have started yielding results as many investors have shown keen interest to invest in the sector.

Adegbite stated this during a Press Briefing to herald the 5th Annual Nigeria Mining Week, starting on 12 – 16 October, 2020 in Abuja.

The event will focus on opportunities the sector offers investors and project developers.

He said enabling environment for investors to invest in the sector including Tax holiday, import duty weaver for mining equipment importation, free flow of capital, and transparency in issuance of mining licenses, among others.

Explaining the importance of the Nigeria Mining Week, the Minister said, ‘’Mining used to be the mainstay of Nigeria’s economy in the 50s, contributing about 12% of the nation’s GDP, but with the advent of oil and gas we shifted our focus from mining and so its contribution dwindled drastically.

“The kind of mining that we desire that will bring back the glorious days is what we are striving to achieve through the Nigeria Mining Week to put Nigeria back on the mining map of the world.’’

Speaking earlier, the President of Miners Association of Nigeria (MAN), Alhaji Mohammed Kabiru Kankara said that the Nigeria Mining Week, which will be Digital Event due to the COVID -19, will offer five days of free, interactive content and engagement with an expected 2000 attendees to network and find new innovations and solutions to problems in the mining industry.

He also stated that the Mining Week is an annual gathering where stakeholders brainstorm on the expectations and future of the mining industry in the country.

In her closing remark, the Permanent Secretary, Ministry of Mines and Steel, Dr. (Mrs.) Oluwatoyin Akinlade, extolled all stakeholders in the Mining Sector for their relentless and tireless efforts to make the 5th Annual Nigeria Mining Week a reality.

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