*Photo: Minister of Solid Minerals Development, Dr Dele Alake (right), addressing participants at TICAD Business Expo & Conference in Japan*
Minister of Solid Minerals Development, Dr Dele Alake has said the era of simply exporting raw solid minerals from Nigeria is gone.
He said this in Japan at the ongoing Tokyo International Conference on African Development(TICAD).
Alake said instead of exporting raw minerals, the new policy now focuses on adding value at home.
He pointed out that in just the last two years, this approach has attracted about $800 million in investments for mining factories. “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,” he told his audience.
The Minister said 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,” he said.
