Nigeria May Benefit From United States Tariffs- Alake

The Minister for Solid Minerals Development, Dr. Dele Alake says Nigeria may benefit from the United States of America initiated tariffs.

Dr. Alake made this known at the Fireside Chat session on Foreign Direct Investment titled: The Alchemy of Foreign Direct Investment – Turning Policies into prosperity for Emerging Global Markets,” during the 14th edition of the AIM Congress in Abu Dhabi, United Arab Emirates.

According to a statement signed by his media aid, Segun Tomori in Abuja, Dr Alake calls on African countries to adopt an introspective approach by looking inwards and adjusting their domestic policies to focus more on intra African trade, with little dependence on external forces .

“We need to organize our economic imperatives to ensure a balance of trade and strengthen intra African trade among ourselves. The time is now”.

The statement explains that the past approach of “pit to port, where the nation’s resources were extracted and siphoned outside of the continent can no longer prevail.

“Interested investors who wish to come into Africa are welcome to set up their factories in Africa, add value to our mineral resources and create jobs here, rather than just shipping our wealth out of our shores”, he states.

“Protecting Africa’s mineral wealth has been adopted by many African countries, especially the minerals producing countries, of which i serves as the pioneering chair of the African Minerals Strategic Group (AMSG)”

“Nigeria’s policy on the minerals sector development is strictly geared toward value addition and boosting local economy through job creation” he adds.

The statement says during the Congress, Dr. Alake toured the exhibition platform by the Solid Minerals Development Ministry, Solid Minerals Development Fund (SMDF), Zamfara State government and the booths of the private business groups from Nigeria.

PR/Georgina Humphrey