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Nigeria welcomes Mexican investors, restates incentives to boost mining

Dr. Oladele Alake, Honourable Minister for Solid Minerals Development (far left); Heriberto Garcia Cortes, President of Seccion Internacional Para Africa (2nd left); and Other Mexican Investors on the Delegation During the Visit to Alake in Abuja, FCT       Photo: State House

*Dr. Oladele Alake, Minister for Solid Minerals Development, applauds the decision of investors from Mexico for visiting Nigeria in search of investment in solid minerals in the West African country

Isola Moses | ConsumerConnect

Dr. Oladele Alake, Honourable Minister for Solid Minerals Development, has applauded the decision of investors from Mexico to visit Nigeria in search of investment in solid minerals.

The Minister, who gave the commendation while welcoming the investors to his office in Abuja, FCT, recently, said the administration of President Bola Ahmed Tinubu had put in place incentives to ease business for investors in the mining sector of the economy.

Segun Tomori, Special Assistant to the Minister

on Media, stated Dr. Alake listed the incentives include zero duty on equipment imported for solid minerals extraction, easy movement of profits to the countries of origin and tax holidays.

Investors in the mining industry are expected to sign Community Development Agreement with the communities in the mining area to ensure the socio-economic development of the region that benefits the people, said the Minister.

He further disclosed the administration is currently sanitising the industry, citing the instance of recent revocation of titles which failed to comply with the law on annual service fee.

Introducing the investors, Hon. Adejare Bello, Nigeria’s outgoing Ambassador to Mexico and former Speaker of the Osun State House of Assembly, assured the Minister that the embassy had screened the investors and confirmed that they are genuine and serious businessmen whose investment would boost the country’s economy.

Amb. Bello said the Nigerian Embassy had been engaging the investors in talks over two years, and decided to lead them to Alake after it certified their status.

Bello also stated: “The Honourable Minister is aware that Ambassadors have been recalled.

“This visit is the reason why I stayed back so that I could bring them to you.

“Now, that I have achieved my mission, I will go back, pack my luggage and return home.”

Nigeria deserves all support to expand the economy: Dr. Heriberto Garcia Cortes

Dr. Heriberto Garcia Cortes, President,  Seccion Internacional Para Africa,  while speaking on behalf of other investors,  thanked the Minister for Solid Minerals Development for the talks.

Cortes noted that they see Nigeria as their African home that deserves all the support in the quest to expand the economy.

He said the meeting with the Minister had helped to chart the way and given the assurance that their investment would be safe and profitable in the country.

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