Nigeria’s mining sector attracts $2.6billion FDI
Vice President Kashim Shettima yesterday said Nigeria’s mining sector attracted over $2.6 billion in Foreign Direct Investment (FDI) within the last 30 months, attributing the inflow to ongoing reforms introduced
Vice President Kashim Shettima yesterday said Nigeria’s mining sector attracted over $2.6 billion in Foreign Direct Investment (FDI) within the last 30 months, attributing the inflow to ongoing reforms introduced by the administration of President Bola Tinubu.
Shettima said the Federal Government’s deliberate efforts to de-risk the mining environment and prioritise local value addition were beginning to yield tangible results across the sector.
The Vice President spoke in Abuja during the commissioning of the headquarters of Kursi Group, established by Amb Abdulfatai Yahaya Seriki Gambari.
According to him, the current administration has made local processing and beneficiation of mineral resources a central condition for licensing in the mining industry, insisting that Nigeria would no longer serve merely as an exporter of raw materials.
In a statement by Senior Special Assistant to the President on Media and Communications, Office of the Vice President, Stanley Nkwocha, Shettima said: “We are becoming a global hub for mineral refinement, beneficiation, and value-driven industrial growth.
“There is no doubt that any enterprise processing our lithium for the global green energy transition, and refining our gold to international standards right here on our soil, eases our industrial ambition.
“Every nation that rises does so by mastering the value chain of its natural advantage. Every nation that commands respect in the world economy learns to convert resources into products, products into industries, and industries into national power.”
Shettima noted that the administration’s reforms were strategically designed to reposition the mining sector as a major driver of industrialisation, job creation and export earnings.
He said the government’s focus on attracting investors into local refining and processing would help the country to maximise the economic value of its mineral resources while supporting broader industrial growth.
Shortly after commissioning the Kursi Group Corporate Headquarters, the Vice President toured the facility alongside Kwara State Governor AbdulRahman AbdulRazaq and other dignitaries.
The facility houses a mineral refining factory as well as a state-of-the-art minerals marketing and tracking platform aimed at improving transparency and efficiency within the sector.
The event attracted investors in the mining industry, alongside traditional and religious leaders from Kwara State and other parts of the country.
