The European Union (EU) delegation, led by Ambassador Gautier Mignot, recently visited Nigeria to explore opportunities in the country’s solid minerals sector. During a meeting with Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, the delegation expressed interest in fostering trade and investment in critical minerals such as lithium, cobalt, and copper. These minerals are essential for the global transition to green energy, making Nigeria a strategic partner in sustainable development.
Dr. Alake highlighted Nigeria’s vast mineral wealth, estimating over $700 billion in deposits, and emphasized the country’s readiness to engage with EU member states and investors. He outlined several incentives to attract foreign investment, including tax waivers on mining equipment, streamlined licensing processes, and policies allowing full repatriation of profits. Additionally, the Minister stressed the importance of local value addition as a prerequisite for mining licenses, aiming to boost employment, technological transfer, and economic growth.
The Nigerian government is also implementing mechanisms to ensure the traceability of minerals extracted from the country, addressing concerns about illegal mining activities. This initiative aligns with Nigeria’s commitment to sustainability and responsible resource management.
This visit underscores the EU’s interest in Nigeria’s mining sector and the potential for mutually beneficial partnerships that could drive economic diversification and global competitiveness.
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