The Chairman, Senate Committee on Solid Minerals, Steel Development and Metallurgy, Senator Osita Ngwu has underscored the importance of choice, strategy and diplomacy in the quest to attract foreign investment to the country’s solid minerals sector.
A press release issued by Hon. Demian Igbokwe, Special Adviser to the Senate Committee Chairman, on Thursday, said the Committee Chairman spoke at the recent Unveiling of the 2023 Report of the Nigeria Extractive Industry Transparency Initiative (NEITI), in Abuja.
The Special Adviser quoted the Committee Chairman as saying: ‘The Minister is currently in Australia, and it shows that the current administration is now putting hand into this very important sector.’
He expressed hope that ‘by the time the minister returns from Australia, Nigeria would have a lot of investments that will be the result of their visit to Australia.’
According to the press statement, Ngwu, who represents Enugu West Senatorial District in the 10th Senate, commended the minister for starting on a good note by embarking on foreign investment to Australia. He however called on the Federal Government to put in place strategies that will ensure that only responsible foreign investors operate in the sector.
While calling on government to put in place, strategies that will guard against the influx of irresponsible and lawless foreign investors, Ngwu expressed concern that some foreign investors are raping the country of its mineral wealth and fail to pay revenues due to government.
