Minister affirms Nigeria’s huge mining investment prospect as UK firm shows interest
Story from Abah ADAH, Abuja
Nigeria’s Minister of Mines and Steel Development Arc Olamilekan Adegbite has disclosed that Nigeria has huge investment opportunities in the mining and solid minerals sector.
This is as the ministry is intensifying efforts at attracting Direct Foreign Investment (DFI) in mining for the actualisation of the diversification of the economy from crude oil of the federal government.
According to a statement from the ministry, Adegbite stated this when a delegation of Optiva Resources Ltd, a UK based Investment Organisation and their investment advisers, NPL Advisors, paid a courtesy visit to the ministry’s headquarters in Abuja on Tuesday, 1st of March, 2022.
Arc. Adegbite while expressing delight that the visit was coming just a few months after the “Mines and Money” Conference held in London recently, noted that the ministry had become technologically savvy in its bid to making it easy for would-be-investors to access information, saying “you can now apply for licence and certificate online”.
He enjoined the delegation to visit other Agencies of the ministry, for them to get a full grasp of the mining potentials in the country
In his remarks, Francis Nwokedi, Managing Director, NPL Advisors, said though Optiva Resources Ltd had invested in a number of projects across Africa, this was the first time they were showing keen interest in coming to Nigeria.
Reiterating the huge opportunities in the mining and minerals sub-sector of the country’s economy, he disclosed that the purpose of the visit was to look at areas the organisation can invest.
Speaking, Abdulrazaz Garba, Director General, Nigeria Geological Survey Agency (NGSA) stated that Optiva Resources Ltd interest to invest in the mining sector is very encouraging as the Federal Government has provided funds for massive exploration of the mineral potentials of the country.
Dr Garba while giving an elaborate run down of the agency’s activities disclosed that 7 strategic minerals have been identified as low hanging fruit in the mining roadmap. They include Coal, Bitumen, Limestone, Iron Ore, Barites, Gold and Lead/Zinc Ore.
Also, Yunusa Mohammed, Director, Investment Promotion and Mineral Trade, (IPMT), stated that the visit shows clearly the ministry’s effort at wooing and attracting international investors. Adding that “the investors are here to look at the mining assets we have in Nigeria”.
The delegation is also billed to visit the Mining Cadastre Office (MCO) and the Solid Minerals Development Fund (SMDF).
