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The
establishment of a mineral investment promotion unit in the
Ministry of Mines and Steel Development will improve
investments whereby both local and foreign direct investment
would be attracted to the sector.
Minister of Mines and Steel
Development, Arc. Musa Mohammed Sada, made this known during
a meeting with a host of foreign investors from Japan led by
the President of the association of African Economy and
Development (AFRECO), Mr.Tetsuro Yano in his office.
The Minister said the
ministry is already in the process of establishing a mineral
investment promotion unit in the ministry and when it
becomes operational, it would offer both local and foreign
investors the opportunity of having easy access to any
investment information they seek for in the minerals and
metal sector.
He said the Federal
Government is currently rolling out various initiative
reforms in order to create a conducive environment for
investors and the sector at large.
According to him, “The
sector is currently going through reforms whereby government
is making laws binding the sector and in the interest of
investors. We are in the process of setting up a unit in the
ministry for mineral promotion and investment in order to
make it easy and create an enabling environment whereby
there will be one office to go and make enquiries about
mineral investment’’.
He assured the association
of the government’s determination to support and collaborate
with both local and foreign investors towards the
development of the country’s minerals and metal sector.
Arc. Sada pointed out that
Japan was one of the pioneers in the development of the
nation’s steel industry, stressing that the steel industry
needed to grow and the participation of Japan in the
development is highly desired by the government
He said the regulatory
framework set up by the government was to exude the
confidence of potential investors in the sector, adding
that, the delegation should avail themselves copies of
regulatory instruments for the development of the country’s
mining industry.
Arc. Sada expressed gladness
over the manganese project of the association in the
country, assuring them of the ministry’s continued support
in the proliferation of their projects in the country.
He admonished the
association to make presentations about their companies to
the ministry which would open the opportunity of exploring
areas of support and cooperation to the association.
Earlier in his address, the
President of the Association of African Economy and
Development (AFRECO) and leader of the delegation, Mr.
Tetsuro Yano said the purpose of their visit was to explore
the possibility of investing in the Nigeria’s minerals and
metal sector.
Mr. Yano disclosed that
their company, Asian Minerals Limited which is one of the
best mining companies in the world, requires a large amount
of manganese for its production and its operation is already
in progress in the country.
He said the proposed visit
of the Minister to mining companies in the country would
further boost cooperation from the government.
In his own contribution, the
Chief Executive Officer, Asian Minerals Limited Japan, Mr.
Dajiro Murai said the company which has various mining
projects in South Africa, Zambia, Brazil among others was
committed into mining of manganese in Nigeria and the
company requires one million tons of manganese annually for
its production.
In his vote of thanks, the
Permanent secretary in the ministry, Alhaji Adamu Kuta
commended the initiative of the association to invest in the
nation’s mining industry, saying that, the ministry would
extend hand of fellowship to them towards the development of
the sector. |
