Alake woos foreign investors with mining incentives, policies

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Alake woos foreign investors with mining incentives, policies
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The Nation Newspaper Alake woos foreign investors with mining incentives, policies

He said this was due to Nigeria’s incentives and policies designed to promote the ease of doing business in the sector.

The News Agency of Nigeria reports that investors in the mining sector in Nigeria are granted a tax holiday of three to five years, deferred royalty payments, and exemption from Customs and import duties for their equipment, among other benefits. The minister said the corporation was poised for joint ventures with investors on critical minerals, such as lithium, gold, baryte, lead, and iron-ore.

“Illegal mining is not just unlicensed mining. It covers licensed miners operating with invalid licences or licensed miners operating outside their coordinates or mining minerals not approved in their licences.

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