FG Attracts $2.6bn Investment to Mining Sector as Reforms Gain Traction — Shettima

FG Attracts $2.6bn Investment to Mining Sector as Reforms Gain Traction — Shettima

The Vice President, Kashim Shettima, has disclosed that reforms introduced by the administration of Bola Ahmed Tinubu in the mining sector are beginning to yield tangible results, with over $2.6 billion in Foreign Direct Investment (FDI) attracted within the last 30 months.

Speaking on Wednesday in Abuja during the commissioning of the Kursi Group Headquarters, Shettima said the government’s efforts to de-risk the mining environment have made Nigeria more attractive to investors.

He noted that the administration has prioritised local value addition, insisting that the country would no longer serve merely as a source of raw materials.

“We are becoming a global hub for mineral refinement, beneficiation, and value-driven industrial growth,” the Vice President stated.

According to him, initiatives that promote in-country processing of resources such as lithium and gold are key to achieving Nigeria’s industrial ambitions and positioning the nation competitively in the global economy.

“Every nation that rises does so by mastering the value chain of its natural advantage… converting resources into products, products into industries, and industries into national power,” he added.

Following the commissioning, Shettima, alongside AbdulRahman AbdulRazaq and other dignitaries, toured the facility, which features a refining factory and a modern minerals marketing and tracking platform.

The event drew participation from investors in the mining sector, as well as traditional and religious leaders from Kwara State and across the country.

The Federal Government reiterated its commitment to strengthening reforms in the mining sector as part of broader efforts to diversify the economy and drive sustainable growth.

FG Attracts $2.6bn Investment to Mining Sector as Reforms Gain Traction — Shettima