President Tinubu says the directive will position Nigeria as critical metals leader.
SPECIAL REPORT: Jigawa villagers link declining farming output, urban drift to abandonment of damSPECIAL REPORT: Katsina farmers lament impact of climate changeTowards genuine local government autonomy, By Dakuku PetersideSPECIAL REPORT: Jigawa villagers link declining farming output, urban drift to abandonment of damSPECIAL REPORT: Katsina farmers lament impact of climate changeTowards genuine local government autonomy, By Dakuku PetersidePresident Bola Ahmed Tinubu has instructed the Federal...
“We recognize the losses incurred from exporting crude mineral commodities and understand that it is time to change this narrative. By doing so, we aim to ensure that our teeming youth are actively engaged in economic activities, acquiring skills, and contributing to the nation’s foreign exchange earnings. Therefore, the Ministry will only issue mining licenses if they are tied to local value addition,” the president noted.
In leveraging opportunities in the renewable energy space, President Tinubu explained that “Nigeria has attracted over $2 billion in investment in the renewable energy sector, making it a fast-growing sector in the economy. The president highlighted strategic priorities in the sector to include the goal to attract more investment in the oil and gas industry; grow oil production to 2.1 million barrels a day by December 2024; improve investment in midstream and downstream infrastructure; tackle theft; and hold developers accountable for the highest environmental standards.
The minister noted that the government is implementing wide-ranging reforms to create a more attractive environment for investors, with a focus on enhancing transparency, regulatory clarity, and investor confidence.
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