Tinubu’s reforms boost mining sector, attract foreign investment – Alake

The Minister of Solid Minerals Development, Dr. Dele Alake, says reforms implemented by President Bola Tinubu have significantly boosted Nigeria’s mining sector, driving productivity and increasing Foreign Direct Investments (FDIs)

A statement by the Minister’s Special Assistant on Media, Segun Tomori, said Alake highlighted the sector’s rapid growth while speaking through the Director-General of the Mining Cadastre Office (MCO), Engr. Obadiah Nkom, at the Prospectors and Development Association of Canada (PDAC) conference in Toronto.

Addressing the 27th Annual African Mining Breakfast, a platform bringing together African ministers, industry leaders, and global investors, Alake emphasized the importance of partnerships with credible investors committed to sustainable mining in Nigeria. He called for stronger regional collaboration to unlock the continent’s mineral potential.

Alake also underscored the Federal Government’s focus on value addition, noting that Nigeria is moving beyond exporting raw minerals to prioritizing local processing to maximize benefits for citizens and the economy.

Integration does not fail because Africa lacks frameworks. It fails because projects stall between borders. A mine may be viable in one country, but the rail link, the power line, or the processing facility sits across the border,” he said, urging development finance institutions and strategic investors to fund regional linking systems. “Nigeria is ready to anchor such corridors. We have the data, the reforms, and political backing; all we need now is structured capital.”

On the sidelines of PDAC, the Nigerian delegation met with Ms. Paula Caldwell, Chairperson of the Canada–Africa Chamber of Business, to discuss strengthening Canada–Nigeria business engagement in mining. The meeting, facilitated by Canadian High Commissioner to Nigeria, HE Pasquale Salvaggio, focused on the upcoming African Partnership Business Conference in May, designed to connect Canadian companies with African investment opportunities.

The 4-day PDAC conference featured high-level engagements with mining executives, development partners, and prospective investors, highlighting Nigeria’s mineral potential and ongoing reforms aimed at improving transparency, strengthening geological data, formalizing artisanal mining, and creating a competitive investment climate.

Culled from vanguard