ABUJA - The Federal Government has expressed commitment to the creation of an enabling environment for foreign investment in the mining sector. Mines and Steel Development Minister, Chief Sarafa Isola, said this at the just-concluded 6th Annual Mining Conference in Australia. A statement by Mr. Clinton Oni, Chief Press Secretary in the Ministry, quoted Isola as saying that Nigeria was prepared to develop the mining sector as an alternative to oil and gas.
“Making a presentation at the conference tagged: ‘Africa Down Under’, he noted the readiness of Nigeria for the development of the sector in view of the enduring legislative and institutional frameworks that have been put in place,” the statement said.
It listed machinery put in place by government to woo investors to include the Airborne Geophysical Survey, which covered 44 percent of the country and the availability of fiscal incentives.
It also explained that the establishment of a Modern Cadastre System for Mineral Title Administration would be carried out in conformity with international best practices.
According to the statement, Isola’s presentation at the conference focused on development of the seven strategic minerals identified as economically viable resources. The minerals are Coal, Bitumen, Baryte, Iron Ore, Limestone, Gold and Lead/Zinc. Other African countries that participated at the forum were Botswana, Equatorial Guinea, Zambia, Ghana, South Africa and Namibia.
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