The Minister of Solid Minerals, Dele Alake has said that the Federal Government of Nigeria understands the needs of investors across the globe.
Alake is part of the Nigerian delegation attending the ongoing 9th Tokyo International Conference on African Development (TICAD 9) in Yokohama, Japan alongside President Bola Tinubu.
In a post made on X, the minister said that at the conference, he had the opportunity to share some of the steps Nigeria has been taking in the mining industry.
Noting that the country is gradually making a shift from barely exporting raw materials to implementing policies that add value within the country.
He said, “At the TICAD Business Expo & Conference in Japan, I had the opportunity to share what we’ve been doing in Nigeria’s mining sector. One of the most important steps we’ve taken is to move away from simply exporting raw solid minerals. Instead, our policy now focuses on adding value at home.”
According to the minister, within the last two years since Tinubu’s administration took over power, this approach has attracted about $800 million in investments for mining factories.
He said, “Three major plants are already in place and getting ready for inauguration. This is a big step toward creating jobs, boosting government revenue, and building real capacity within the country.
“Nigeria is open to genuine partnerships with foreign mining companies. What we want are investors who are ready to do legitimate business, those who will help create jobs, pay their taxes, and transfer technology that strengthens our economy. At the same time, we understand the needs of investors, which is why the government ensures that foreign businesses can easily repatriate their profits when they choose to,” the minister noted.