The Minister of Mines and Steel Development, Arc. Musa Mohammed Sada has given assurance to willing investors that the Nigerian government would give them necessary assistance to conduct their business without hindrance.

Africa made this known to prospective investors who visited Nigeria's stand. 

The Minister disclosed that the Federal Government has approved that agencies be set up to handle all issues relating to investments in the extractive industry in the country to remove bottle necks from the process.

 He noted that new legislation on investment particularly in the mining sector has opened a wider opportunity for investment protection in a manner the investors would be able to enjoy some uncommon benefits including tax exemptions for a given period as provided for in the  Nigerian Minerals and Mining Act,2007. 

The Minister also disclosed that Nigeria is to set up a Sustainable Development Fund to further develop the mining sector, stressing that the Fund would help to cushion the effect of expansion and financing the sector which is capital intensive.

He added that the fund would be a joint project between the Nigerian government and commercial banks in the country, this he said, would enable the banks to lend to potential investors for longer period of time to assist the miners generate enough revenue and be self sustaining.

According to the Minister, “What Government is trying to do is to create a kind of Development Fund for the mining sector generally, whereby government will put its own money and ask the banks also to contribute. Because of the long gestation of mining activities to generate revenue, the fund  created will allow banks solve some questions which will be able to allow lending for longer period of time, for the miners to be able to start generating revenue “.

He said apart from the development fund, government had embarked on massive infrastructure development to attract foreign investors into the sector.

The Minister said ongoing works in this regard included dredging of the rivers around the coastlines to allow large vessels transport minerals from the mines to the outer coasts, expansion and rehabilitation of rail transportation as well as deregulation of the power sector.

Arc. Sada also told journalists in South Africa that Nigeria was working closely with countries like Australia and South Africa to perfect the country's mining industry for optimum benefit to Nigeria and serious investors.