Nigeria don record $2.6 billion foreign direct investment for mining sector
Di minister wey dey in charge also highlight progress wey Nigeria mining sector don make under President Bola Ahmed Tinubu administration.
Nigeria don attract over $2.6 billion in foreign direct investment (FDI) into di mining sector for two years, di Minister of Solid Minerals Development, Dr. Dele Alake, don tok.
He say dis growth happen becos of better governance, digitisation of licensing processes, and di way dem dey clamp down on illegal mining.
Di minister call on di United States and African countries to set up regional energy hubs as one strategy to speed up cross-border mining industrialisation and secure global supply chains for critical minerals.
Alake make dis call at di Powering Africa Summit for Washington, D.C., during one high-level panel wey dem tag “Critical Minerals in Africa: Meeting Global Demand.”
For one statement wey im Special Assistant on Media, Segun Tomori, release, dem quote di minister as saying sey Africa’s vast mineral potential fit only fully unlock through sustainable partnerships and integrated infrastructure.
He propose di development of regional industrial corridors, like di Lobito Corridor, noting sey belts like di Lagos-Abidjan corridor (wey dey span Nigeria, Benin, Togo, Ghana, and Côte d’Ivoire) and di Walvis Bay Corridor fit serve as economic catalysts for di continent.
Alake tok: “Di development of nuclear power for one West African country, for instance, fit service an entire corridor.
“With dat one for place, local beneficiation, technology transfer, manufacturing, and cross-border industrialisation go naturally follow.
“If three to five such corridors dey developed for Africa, we go significantly advance industrialisation across di continent, creating win-win outcome for both Africa and di West.”
Di minister also highlight progress wey Nigeria mining sector don make under President Bola Ahmed Tinubu administration.
He note sey recent reforms don strengthen governance structures, improve regulatory frameworks, digitise licensing processes, enhance ease of doing business, and reposition di sector as one key driver of economic diversification.