Revocation Of Mining Titles To Sanitize Sector

By Georgina Humphrey

The Federal Government says recent revocation of mining titles is to sanitized the industry for optimal performance.

Minister of Solid Minerals Development, Dr. Oladele Alake stated this when he hosted investors led by Nigeria’s outgoing Ambassador to Mexico, Adejare Bello in Abuja.

He said investors in the mining industry are expected to sign a Community Development Agreement with the communities in the mining area to ensure the socio-economic development of the region for the benefit of the people.

The minister lauded the decision of the Mexican investors for their interest in investing in solid minerals.

Alake said the administration of President Bola Tinubu has put in place incentives for ease of doing 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” Dr. Alake added.

On his part, Nigeria’s outgoing Ambassador to Mexico and 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 economy.

Ambassador Bello said the Nigerian Embassy has been engaging the investors in talks over two years and decided to lead them to the minister after it certified their status.

“The Honourable Minister is aware that ambassadors have been recalled. This visit is the reason why I stayed back so that I can bring them to you. Now, that i have achieved my mission, I will go back, pack my luggage and return home’ he said.

Speaking on behalf of the investors, President, Seccion Internacional Para Africa, Dr. 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 the economy.

He said the meeting with the minister has helped to chart the way and the assurance that their investment will be safe and profitable in the country.

Edited By Grace Namiji