Dele Alake, minister of solid minerals development, has announced a series of incentives, including duty waivers on imported equipment and seamless repatriation of profits, to attract global mining investors.Alake unveiled the package while leading a Nigerian delegation to the ‘Resourcing Tomorrow’ annual exhibition and conference in London.
The minister said the country had recorded more than $2 billion in mineral-processing investments over the past two years.
This, he said, was driven by President Bola Tinubu’s administration’s value-addition policy aimed at ending raw mineral exports
And just outside Abuja, the federal capital of Nigeria, construction is underway for a 50-million-dollar lithium processing plant, the first in a network of industrial clusters that will extend through Nasarawa, Kogi, Kwara, and Ebonyi states.“On November 19, this year, Nigeria broke new grounds in the processing of rare earths ores with the groundbreaking of the $400million rare earth plant of the Hasetins group. It is expected to be ready in 15 months.
