Nigeria Seeks Canadian Investment to Boost Mining Sector

The Federal Government of Nigeria is intensifying efforts to reform the mining sector by seeking Canadian technology and investment. Minister of Solid Minerals Development, Dele Alak, disclosed this during a meeting with Canadian High Commissioner to Nigeria, Pasqual Salvaggio, in Abuja.

The government aims to leverage Canada’s advanced technology and global expertise to accelerate reforms and unlock the economic potential of the mining industry. Alak reaffirmed Nigeria's commitment to creating a transparent and investor-friendly mining environment, emphasizing the need for formalizing artisanal mining and improving regulatory oversight.

The government is prioritizing measures such as tax waivers and full profit repatriation to boost investor confidence. Salvaggio acknowledged Canada’s historical support for Nigeria during its pro-democracy struggles and highlighted the potential for expanding trade relations, particularly in the mining sector.

He noted that Nigeria could become Canada’s largest trade partner in Africa within the next five to ten years, given its dynamic entrepreneurial spirit.