$20bn solid minerals investments coming to Nigeria from UK, Saudi Arabia, Turkey


By our correspondent

Nigerian solid minerals sector may soon begin to witness a huge boost as foreign investors are coming from Saudi Arabia, Turkey, France, United Kingdom and China to invest $20billion in lithium, gold, lead, gemstones in the country.

This was revealed through their Nigerian partner and representative, Alhaji Mohammed Abba Liman, who spoke to newsmen in Abuja yesterday.

Liman, the chief executive officer of a mining company, Daroo Nigerian Limited, described the ongoing implementation of the solid minerals sector development roadmap by the present administration as “a long term strategic vision”.

He said Daroo Nigerian Limited, is collaborating with Saudi Arabia’s Ministry of Industry and Solid Minerals Resources through Saudi Gold Refinery Company Ltd in Riyadh.

The Saudi authorities have reaffirmed that all Nigerian miners that are interested in partnership should get the approval of Nigeria’s Federal Ministry of Solid Minerals Development for onward submission and consideration in Riyadh.

He said the sudden investors’ interest was part of the fallout of the 2024 Future Minerals Forum (FMF) hosted by Saudi Arabia December last year in which Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, led the Nigerian delegates and made an impressive presentation and made Nigeria proud.

According to him, “the development was as a result of how the Honourable Minister of Solid Minerals Development, Dr. Dele Alake, with the express support of President Bola Ahmed Tinubu, has taken proactive and revolutionary steps and opened up the sector for macro-economic investments and business activities to thrive.

“This is in line with the economic blueprint of diversification by the Tinubu administration and the Minister of Solid Minerals Development, Dr. Dele Alake, is a frontliner in the drive towards achieving this ambitious economic agenda”, he said.

Foreign investors, he added, “are excited about the new policy direction of the country in the sector and find it suitable and comfortable to bring their money and put it where their mouths are”.

Liman, a solid minerals investor, politician and large scale farmer, further stated that, “the Nigerian economy will soon witness a big boost via the solid minerals sector development with it’s billions of dollars value chain.

“It is high time we redirected our national economic and revenue policy priority from oil to the solid minerals sector development through strategic investment, which is exactly what the present Tinubu administration is doing.

“Currently, all of us who are stakeholders in the sector are very happy at what is happening and are ready to work with and support this government all the way towards actualizing the aims and objectives of the ongoing economic diversification”, he said.