• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Tuesday, July 15, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Federal Govt Assures Foreign Mining Investors Of Profit Repatriation

To partner states in solid minerals exploitation

by Silas Ezeugwu
2 years ago
in Business
mining
Share on WhatsAppShare on FacebookShare on XTelegram

The minister of Solid Minerals Development, Mr. Dele Alake, has assured foreign investors in Nigeria’s solid minerals exploration that the country’s laws permit them to take their profits out of the country.

Advertisement

Alake, who gave this assurance at the just concluded 21st Africa Down Under conference in Perth, Australia, assured investors of a conducive environment to operate in Nigeria.

LEADERSHIP reports that the assurance may not be unconnected to the trade dispute in the aviation industry over funds repatriation that led to the UAE banning flight operations to and from Nigeria some months ago.

According to a statement by Alaba Balogun, deputy director of information, Ministry of Solid Minerals, Nigeria’s mining roadmap was the investors’ toast as they reportedly besieged the exhibition booth of the Ministry of Solid Minerals at the Pan Pacific Hotel venue of the event following the announcement of enticing package of incentives by the minister of solid minerals at the fourth session of the event.

While presenting a strong case for investment in the country’s mining industry, Alake told the investors about plans to set up the Nigerian Solid Minerals Corporation as the interface between the global mining industry and Nigeria.

RELATED

4th Digital Xperience Centre To Enhance Banking Services – First Bank

FirstBank Partners UNGC To Bridge SDG Financing Gap

12 hours ago
Stockbrokers To Launch First Book, Documentary On Nigerian Capital Market

Stockbrokers To Discuss Economic Growth Strategies

12 hours ago

He said a major plan to show the government’s readiness to assist investors is the massive investment into geoscience investigation of the country’s minerals, their grade and quantum to enable investors project with greater certainty the costs of their investments and the profits they can make.

Alake said that following the prospect of the extensive occurrence of lithium in Nigeria, the battery minerals making waves in the automobile industries, progress made by investors such as Basin Limited in their Jupiter Project, mining lithium in the North, and Lithium King investments in the South West confirm reports of Nigeria as the most profitable destination for the precious mineral.

The minister assured investors of safety, reiterating that the government had given illegal miners 30 days to join co-operatives in addition to plans to deploy a surveillance task force and mine police to combat criminals at the mines.

“Nigeria is open for business and with our ongoing reforms in the solid minerals sector I can assure every investor that comes to our country of a conducive operating environment and good returns on their investments,” the minister said.

In a related development,  the minister also expressed its readiness  to collaborate  with governors towards harnessing mineral resources from their domains in order for Nigeria to achieve maximum socio-economic development.

Alake stated this when the governor of Nasarawa State, Abdullahi Sule, paid him a courtesy visit in his office at the Ministry’s Headquarters in Abuja.

In a statement made available to journalists yesterday in Abuja by Alaba Balogun, deputy director of information at the ministry y,  Mr Alake said that the ministry is determined and committed towards harnessing the nation’s mineral resources.

He noted that Nasarawa State and other solid minerals-endowed states across the country will soon witness rapid development that will enhance the living conditions of the citizenry under the renewed hope agenda of the present administration.

“Nasarawa State is very significant in terms of the development of the minerals sector …and we are putting the mechanisms together. We are crossing  the Ts and dotting the I’s to  make sure that the nation derives maximum benefits from this God-given gift of minerals that are in abundance in Nigeria.’’

‘’We are going to harness and utilize efficiently, effectively and proficiently to ensure that Nigeria really expends the resources judiciously from solid minerals. That is the next petroleum of Nigeria,’’  Alake said, adding that Nasarawa State would be very important in transforming solid minerals to the country’s new resource base.

According to him, it is imperative for the ministry to cooperate, synergize and coordinate all the dynamics surrounding mineral exploration, exploitation and judicious spending of the resources.  

Alake described the visit of the Nasarawa governor as epitomising the synergy  expected between the federal and state governments to develop the critical solid mineral sector.

On his part,  Governor Sule expressed gladness that Alake is overseeing a ministry that means much to Nasarawa State, describing it as win-win situation for the nation

Meanwhile, backing Alake’s claim in their presentations on the Jupiter project, Dr. Stevens Davies and partner, Hugh Morgan of Basin Limited, disclosed that lithium deposits in several parts of Nigeria occur close to the surface requiring mainly quarrying for excavation.

They said their company is working on a nickel project that has shown good prospects in Nigeria.

In their response, the investors welcomed the idea of the proposed Nigerian Solid Minerals Corporation as a step in the right direction.

A mining investor, Mr. David Gardner, based in the United Kingdom and Ghana, told the minister in a meeting after the session how the roadmap had re-ignited his interest to invest.

 


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel



Tags: Dele Alake
SendShareTweetShare
Previous Post

Yobe Governor Swears-In 9 Perm Secs, Confirms SSG, Chief Of Staff

Next Post

10 Things You Should Know About Contact Lenses

Silas Ezeugwu

Silas Ezeugwu

You May Like

4th Digital Xperience Centre To Enhance Banking Services – First Bank
Business

FirstBank Partners UNGC To Bridge SDG Financing Gap

2025/07/15
Stockbrokers To Launch First Book, Documentary On Nigerian Capital Market
Business

Stockbrokers To Discuss Economic Growth Strategies

2025/07/15
Customs CG Approves Promotion Of 357 Junior Officers
Business

Infractions: Customs Ban Pharmaceutical Goods Clearance From Bonded Terminals

2025/07/15
Improved Licensing Process Attracts $1.2bn Investment To Modular Refineries
Business

Improved Licensing Process Attracts $1.2bn Investment To Modular Refineries

2025/07/15
Court Restrains Reps From Investigating Sterling Bank
Business

Sterling Bank Seeks To Boost Non-oil Export With Academy

2025/07/15
PTDF Boosts Oil & Gas Manpower, As 5,000 Screens For Overseas Scholarship
Business

Scholarships: PTDF Strengthens Oil & Gas Sector With Strategic Partnerships, Screens 5,723 Applicants

2025/07/15
Leadership Conference advertisement

LATEST

Lagos Police Arrest Suspect With Firearms, Launch Anti-cult Squads

EU, Turkiye, Others Mourn Buhari

JUST–IN: Ex-President Buhari Buried After State Funeral

Buhari Told Me He Felt Better Out Of Office — Gov Radda

FIBA U19 WWC: Junior D’Tigress Suffer Second Defeat, Avoid US In Round Of 16

40,678 Kogi Children Affected By Malaria In 2024

Buhari’s Remains Arrive Daura Ahead Of Burial

Police Arrest 2 Suspected Killers Of Chinese National

Police Kill 6 Suspected Kidnappers, Arrest 7 Others In Delta

NDLEA Raises Alarm Over High Rate Of Drug Abuse In Akwa Ibom

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.