Eunice Imo Kalu
Lagos — Nigeria’s Minister of Solid Minerals Development, Dele Alake, has applauded the decision of investors from the Republic of Mexico to explore investment opportunities in Nigeria’s solid minerals sector.
In a statement released by the Special Assistant to the Minister on Media, Segun Tomori, Alake emphasised the incentives provided by the administration of President Bola Tinubu to facilitate business for investors in the sector.
The minister highlighted the administration’s commitment to creating a conducive environment for investors, mentioning specific incentives such as zero duty on equipment imported for solid minerals extraction, easy movement of profits to the investors’ countries, and tax holidays.
He stressed that these measures are aimed at attracting and encouraging investments in the mining industry.
Speaking to the investors, Alake noted that those involved in the mining sector are expected to enter into community development agreements with the local communities in the mining areas.
He said: “This agreement aims to ensure the socio-economic development of the regions affected by mining activities, ensuring that the local population benefits from these projects.”
He also informed the investors about the ongoing efforts to clean up the sector, citing the recent revocation of titles that did not comply with the law on annual service fees.
The outgoing Ambassador to Mexico, Adejare Bello, presented the investors to the minister and assured him that the embassy had thoroughly examined and confirmed the reliability and seriousness of the investors, whose investments will contribute to boosting the economy.
Ambassador Bello, former Speaker of the Osun State House of Assembly revealed that the Nigerian Embassy had been in discourse with the investors for over two years and decided to facilitate a meeting with the Minister after verifying their status.
“The Honourable Minister is aware that ambassadors have been recalled. This visit is the reason why I stayed back so that I can bring them to you. Now that I have achieved my mission, I will go back, pack my luggage and return home,” he added.
Speaking on behalf of the investors, Dr. Heriberto Cortes, President of Seccion Internacional Para Africa, expressed gratitude to the Minister for the discussions and emphasized their commitment to supporting Nigeria in expanding its economy.
He highlighted that the meeting with the Minister has provided clarity and assurance that their investment will be secure and profitable in the country.
