- FG putting in place reforms to guarantee investment-friendly environment, says Minister
- US will work with Nigeria to unlock mining investments, develop infrastructure, upscale investments – US Presidential Aide
- Nigeria not coming cap-in-hand, but with resources to co-invest, says ES/CEO, SMDF, Fatima Shinkafi
On the sidelines of the on-going Investing in Africa Indaba, Cape Town, South Africa, the Nigerian delegation and the delegation of the United States have met to strengthen ties between the countries on mining development.
Segun Tomori, Special Assistant on Media to the Minister of Solid Minerals Development who confirmed the synergy to our correspondent, said “both countries have formed a working group to work out modalities for deeper engagement on mining matters,” adding that the meeting in South Africa is a follow-up to last week’s meeting in Abuja where the United States Deputy Chief of Mission, David Greene met the Minister of Solid Minerals Development, Dr. Dele Alake.
Tomori, in a statement, said: “Dr. Dele Alake on Tuesday, led a Nigerian government delegation that met a delegation of the US government led by Senior Advisor to the US President on Energy and Infrastructure, Amos Hochstein,”
In his submission, Hochstein stressed that the US has a special relationship with Nigeria, spanning several decades and cutting across diverse sectors. He affirmed the interest of the United States to work with Nigeria to unlock investments in the mining ecosystem spanning infrastructural development, technical assistance in upscaling mining operations and investment in the mining industry.
Tomori quoted the US presidential aide, Hochstein as saying: “Let’s figure out a way between us where we can share whatever you have with our team, then we can work with companies to see what makes sense for the United States to do. We will then look at what the infrastructural needs are, to unlock and make those investments more attractive. If you want to build a clean mining sector, you can’t do that without electricity. We are already working with your government on clean energy options for us to finance.”
The Minister of Solid Minerals Development, Dr. Dele Alake in his remarks, lauded United States for its interest in the mining sector, emphasizing that as Nigeria’s longstanding ally, a new vista of collaboration for mining development will strengthen bilateral relations and translate to mutual benefits for both countries.
Addressing the American delegation, Alake stated: “We are putting in place reforms to ensure that we have an enabling environment in the sector, different from the experiences we had in the past. I suggest that we form a small joint working group that will fashion out modalities for collaboration and fast-track flow of information on both sides.”
On financing, Executive Secretary of Nigeria’s Solid Minerals Development Fund (SMDF), Fatima Shinkafi stated that a certain percentage of oil resources comes to the fund, highlighting the Fund’s partnership with African Finance Corporation (AFC) to deploy more resources for the generation of more geosciences data that will assist investors in making informed decisions on critical minerals.
The SMDF Executive Secretary stated: “Nigeria, through the SMDF has resources to co-invest, so it’s not a situation of coming cap in hand without any commensurate contribution.”
Both countries thereafter nominated members into the working group that will commence deliberations in earnest.
The Nigerian delegation which was led by the Minister of Solid Minerals Development, Dr. Dele Alake has the Director General, Mining Cadastral Office (MCO), Engr. Obadiah Simon Nkom; the Executive Secretary/CEO of the Solid Minerals Development Fund (SMDF), Fatima Shinkafi; the Director General, Nigerian Geological Survey Agency (NGSA), Dr. Abdulrazak Garba; and the Director, Investments Promotion and Mineral Trade (IPMT) in the Ministry of Solid Minerals Development, Ime Ekrikpo among other top officials of the Ministry.
The Head of the U.S. delegation, Amos Hochstein was accompanied to the parley by the Ag. Special Coordinator, Partnership for Global Infrastructure Investments, Helaina Matza; Ribhuti Jain, Regional Managing Director (MD), Development Finance Corporation (DFC); Nisha Biswal, Deputy CEO, DFC; and Lyndsey Mewill, Chief of Staff to Amos Hochestein amongst others.
