Nigeria’s mining sector has recorded a major boost with the attraction of about $800 million in investments for mining factories over the last two years, following the federal government’s shift from raw mineral exports to local value addition.
Speaking at the TICAD Business Expo & Conference in Japan, the Minister of Solid Minerals Development, Dele Alake, highlighted that three major mining plants are already in place and will soon be inaugurated, marking a significant step in job creation, revenue growth, and industrial capacity building in the country.
“Our policy now focuses on adding value at home, instead of simply exporting raw solid minerals. This approach has begun to yield tangible results, with new investments flowing into Nigeria’s mining sector,” the official stated.
He emphasised that Nigeria remains open to genuine partnerships with foreign investors but warned that the country seeks only credible businesses committed to creating jobs, paying taxes, and transferring technology that will strengthen the local economy.
To reassure potential investors, the government also pledged to continue safeguarding the interests of foreign businesses by ensuring that they can easily repatriate profits when desired.
Industry watchers say the development signals Nigeria’s determination to reposition its mining sector as a driver of economic growth beyond oil dependence.
Badejo Adedeji reacted to this development by saying, “This is commendable and applaudable. May almighty God continue to bless your efforts towards the development of our dear country, Nigeria.”
