Federal Government welcomes Mexican investors, restates incentives to boost mining.
The Minister of Solid Minerals Development, Dr. Oladele Alake, has lauded the decision of investors from the Republic of Chile to visit Nigeria in search of investment in solid minerals.
Welcoming the investors to his office in Abuja, Alake said President Bola Tinubu’s administration had put in place incentives to ease business for investors in the mining industry.
The incentives, the minister said, include zero duty on equipment imported for solid minerals extraction, easy movement of profits to the countries of origin and tax holidays.
He said investors in the mining industry are expected to sign Community Development Agreement with the communities in the mining area to ensure the socio-economic development of the region and their people.
Alake said the current administration was sanitising the industry, citing the recent revocation of titles of companies that failed to comply with the law on annual service fee
Introducing the investors, Nigeria’s outgoing Ambassador to Mexico and former Osun State House of Assembly Speaker Adejare Bello told Alake that the embassy had screened the investors and confirmed that they were genuine and serious businessmen.
The former ambassador assured the minister that the Mexican investment would boost the economy.
He said the Nigerian Embassy had been engaging the investors in talks over two years and decided to lead them to the minister after it certified their status.
“The honourable minister is aware that ambassadors have been recalled. This visit is the reason I stayed back so that I could bring them to you. Now, that I have achieved my mission, I will go back, pack my luggage and return home,” he said.
Speaking on behalf of other investors, President of Seccion Internacional Para Africa, Dr. Heriberto Garcia Cortes, thanked Alake for the parley.
The Mexican businessman said they saw Nigeria as their African home that deserved support to expand its economy.
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