The Nigerian Government says it has received some Mexican investors,who have pledged support to boost mining in the country.
Minister of Solid Minerals Development, Oladele Alake lauded the decision of investors from the Republic of Mexico to visit Nigeria in search of investments in solid minerals.
Welcoming the investors to his office recently, Alake said the administration of President Bola Tinubu has put in place incentives to ease business for investors in the industry.
The incentives include; zero duty on equipment imported for solid minerals extraction, easy movement of profits to the countries of origin and tax holidays.
The Minister added that investors are expected to sign Community Development Agreements with the communities in the mining areas to ensure the socio-economic development of the region that benefits the people.
He said the administration is currently sanitising the industry citing the recent revocation of titles which failed to comply with the law on annual service fees.
Introducing the investors, Nigeria’s outgoing Ambassador to Mexico and a former Speaker of the Osun State House of Assembly, Adejare Bello assured the Minister that the Embassy has screened the investors and confirmed that they are genuine and serious businessmen whose investment will boost the Nigerian economy.
Ambassador Bello said the Nigerian Embassy has been engaging the investors in talks over two years and now decided to lead them to the Minister after it certified their status.
Speaking on behalf of other investors, the President of Seccion Internacional Para Africa, Heriberto Garcia Cortes thanked the Minister for the talks, adding that they see Nigeria as their African home that deserves all the support in the quest to expand its economy.
He said the meeting with the Minister has helped to chart the way forward and gave the assurance that their investment will be safe and profitable for Nigeria.
Editor: Ken Eseni
