Mining: Nigeria To Attract $20bn Investment From UK, Saudi Arabia, Turkey, China

Investors in the solid minerals sector have indicated interest in coming to Nigeria to invest $20billion in the sector in order to boost the nation’s economy.

Addressing newsmen yesterday in Abuja, the chief executive officer of a mining company, Daroo Nigerian Limited, and also the Nigerian partner and representative, Alhaji Mohammed Abba Liman, made the revelation.

He said they are interested in lithium, lead, gold, and other precious gems‘ production and their entire value chains.

Liman further described the ongoing implementation of the solid minerals sector development roadmap by the present administration as “a long term strategic vision”.

“Partners who have indicated concrete interest are coming from the United Kingdom, Saudi Arabia, Turkey, China and France,” he said.

He further stated that Daroo Nigerian Limited is collaborating with Saudi Arabia’s Ministry of Industry and Solid Minerals Resources through Saudi Gold Refinery Company Ltd in Riyadh.

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He said the Saudi authorities have reaffirmed that all Nigerian miners that are interested in partnership should get the approval of Nigeria‘s Federal Ministry of Solid Minerals Development for onward submission and consideration in Riyadh.

Liman said the sudden investors’ interest was part of the fallout of the 2024 Future Minerals Forum (FMF) hosted by the Saudi Arabia December last year in which Nigeria’s minister of solid minerals development, Dr Dele Alake, led the Nigerian delegates and made an impressive presentation and made Nigeria proud.

“The development was as a result of how the minister of solid minerals development, Dr. Dele Alake, with the express support of President Bola Ahmed Tinubu, has taken proactive and revolutionary steps and opened up the sector for macro-economic investments and business activities to thrive.

“This is in line with the economic blueprint of diversification by the Tinubu administration and the Minister of Solid Minerals Development, Dr. Dele Alake, is a frontliner in the drive towards achieving this ambitious economic agenda,” he said.

Liman said they are excited about the new policy direction of the country in the sector and find it suitable and comfortable to bring their money and put it where their mouths are.

He further stated that the Nigerian economy will soon witness a big boost via the solid minerals sector development with its billions of dollars value chain.

“It is high time we redirected our national economic and revenue policy priority from oil to the solid minerals sector development through strategic investment, which is exactly what the present Tinubu administration is doing.

“Currently, all of us who are stakeholders in the sector are very happy at what is happening and are ready to work with and support this government all the way towards actualizing the aims and objectives of the ongoing economic diversification,” he said.