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Nigeria’s efforts to reform the mining sector under President Bola Ahmed Tinubu’s administration are drawing global interest. Licenced miners, foreign diplomats, and investors are showing growing enthusiasm.
They attribute this to strategic reforms to revitalise the sector, which is pivotal for diversifying Nigeria’s economy.
According to Ibrahim Tawfik, a diplomat, major global mining investors are mobilizing funds from international financial institutions and planning events to highlight Nigeria’s mining potential, estimated to be worth over $700 billion.
In Jos, Plateau State, licensed miner Joshua Michael noted that these reforms have boosted foreign investor confidence and created thousands of jobs across states.
Minister of Solid Minerals Development Dr. Dele Alake is leading this initiative to diversify the economy, and his efforts have garnered international attention. A recent four-day roadshow in South Africa aimed to attract $500 million in initial foreign investments for Nigeria’s solid minerals sector.
Held at Sandton Convention Centre and organized by the Nigerian High Commission in partnership with Rosebank Capital, the event—titled “Unlocking the Potential of Solid Minerals for Sustainable Development in Nigeria and South Africa”—showcased Nigeria’s extensive resources like gold, tantalite, limestone, and lithium.
The reforms are expected to generate over 3 million jobs and could add $25 billion to Nigeria’s GDP in the next decade.
The Federal Government’s commitment to diversifying the economy from oil to solid minerals underscores the importance of these reforms in securing Nigeria’s economic future.
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