The Federal Government on Tuesday, called on the global investors to take advantage of lucrative business opportunities to be showcased at the 5th Nigeria Mining Week, stating that it will improve on the successes of past events to ensure that the 2021 edition of the conference is best of all.
Discussing the peculiarities of the Nigeria Mining conference that is scheduled to hold virtually from November 16 – 17, in Abuja, the Minister said there is sufficient investment information for investors, adding that if the conference has all it takes to change narrative of the country’s mining sector.
While he explained that inadequate converge of Covid-19 vaccinations in Nigeria was responsible for the decision for a virtual conference, he assured the virtual edition of the Mining Week will make the desired impact, stating that the conference is expected to bring together top-notch policy makers and mining industry leaders from all over the world.
These include the Vice President of Nigeria, Prof Yemi Osinbajo, State Governors, Ministers, Permanent Secretaries, Heads of Departments and Agencies, United Kingdom Government and technical experts among others.
“Due to the pandemic which we call force majeure, we are constrained to have this year’s still a virtual one. It is going to be hybrid, there will be some physical presence locally here,” the minister said.
“A lot of people will join us, and this of course is due to this mutating virus and low vaccine coverage. Be that as it may, we will still have our best outing so far of this 5th edition. It will be a window for investors where will showcase our successes, what we have done and our aspiration.”
He added that there will be business interactions and also creation of partnerships to boost the activities in the sector. However, he said most investors are yet to be aware and understand investment opportunities in the nation’s mining sector as there are a lot of mining value chains that will make them smile to the banks.
“We will allow genuine investors to import their equipment duty-free, we allow 100 per cent ownership of business whether you are local or foreign, which does not exist in other countries, our royalty is the lowest because we charge as low as three per cent, doing mining in Nigeria is cheaper”, he said.
He also highlighted effort made by government as success stories as there is now a kaolin processing plant in Bauchi, in Kano a gold souk is being established for the gold value chain, a gemstone market in Ibadan, barite processing in Cross River, Lead in Ebonyi, and also gold smelting in Kogi.
The Director and Head Mining Industry Business Development, PwC Nigeria, Habeeb Jaiyeola, said there are successes recorded in the sector as a result of other editions, and the impact is visible, while pointing to the barite industry, gold production, interest of investors in the mining sector, and others.
Jaiyeola also explained that major talking points at the event will be on beneficiation, which has been a challenge in the sector, and would also address other critical issues.
However, he allayed fears on connectivity problem as the 5th Nigeria Mining Week will be virtually held, said that has been addressed and there will be seamless participation.
Mr. Adegbite said if the potential of the sector is properly harnessed, it will not only contribute to the revenue generation but will reposition Nigeria in the global mining space, adding that the event will also create an avenue for people to know what government is doing to create an enabling environment for mining activities to thrive.
According to the minister, “there is capital in Nigeria, but a lot of Nigerian investors or people who have the capital are not aware of the benefits of investing in the mining sector.”
President, Miners Association of Nigeria, Alhaji Kabiru Mohammed Kankara said this year’s event will also provide platforms for conversations towards policy formulation and reviews through stakeholder engagements.
