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Nigeria Will Soon Receive More Investors In Mining Sector – Adegbite

Ministry of Mines and Steel Development says the Mining and Metal Sector will soon witness increased interest of foreign investors following successes recorded by the Segilola Resources Operating Limited SROL, in gold production.

A statement signed by the Director Press and Public Relations of the ministry, Mrs Etore Thomas in Abuja says an Aurelian company has also commenced exploration and mining project for Gold, Silver and Lead in Baba Tsauni area of Gwagwalada in the Federal Capital Territory.

“An Aurelian company came into Nigeria in 2021, brought some investors and are about starting operation while another company who has also made imprints in Nigeria is acquiring equities right now. So many other companies like that have come into Nigeria, some are at the explorative stages while some have even gone beyond that,” he further explained”.

It attributes the sudden foreign interests in the Nigeria mining sector to the success story from SROL operations in Nigeria adding that Nigeria needs more of Segilola to return to the world mining map.

“We need more of Segilola in Nigeria, you are the pioneer and we are happy that it is a success story because when I started going to the mining calendar events and invited them to invest in the sector, they were hesitant as they saw Nigeria as a shark infested water and wanted to see who will dive in and come out first.

According to the statement, the success story of Segilola has opened a new vista of opportunities for Nigeria.

“I was in Australia, Saudi Arabia, London, Canada, even the United States of America, everybody wants to come to Nigeria to do mining because of what Segilola has done, a lot of news out there are negative about Nigeria, but we have your story to tell as a company that came from outside and is able to survive in Nigeria.”

It stresses that SROL has paid about 1.1 billion Naira in royalties to the Federal Government, since they started production in 2021, expressing government’s wilingess to welcome more investors like Segilola Resources Operating Limited, and as more investors come in, the more royalties to the government and more employment for Nigerians.

It encourages communities to be receptive to mining companies so as to accelerate development in their communities, provide job opportunities for their teeming youths and create wealth.

The statement appeals for continuous cooperation between the mining companies and the host communities as SROL has employed a lot of people; skilled, semi-skilled and unskilled from host communities.

The statement calls on more foreign mining companies to invest in Nigeria and take advantage of the abundant mineral resources not just gold but also other minerals spread all over different parts of the country such as Lithium, Coal, Nickel and Cobalts, among others.

Earlier in his remarks, the Chief Executive Officer, Segilola Resources Operating Limited, Segun Lawson appreciated the support and motivation received from the Federal Government which he said led to the success so far recorded.

By Georgina Humphrey,Edited byGrace Namiji

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