By James Isaac, Abuja
The Nigerian Senate has assured a visiting Chinese delegation of full legislative support as they plan to invest $500 million in Nigeria’s solid minerals sector, marking a significant step in the country’s economic diversification efforts.
The Senate Committee on Solid Minerals Development, on Friday, hosted the delegation led by Mr. Chen Twan of Zong Hong Kotai Group, who disclosed that their company is set to commence mining operations in Zamfara, Kebbi, and Nasarawa States.
Senator Onawo Mohammed Ogoshi (Nasarawa South), standing in for the Committee Chairman, pledged that the Senate would provide an enabling legislative framework to protect and encourage foreign investments in the sector.
“Our laws on solid minerals exploration are already robust, but we intend to strengthen them further by amending outdated provisions and enacting new ones that will guarantee the safety and profitability of your investments,” Senator Onawo said.
He called on the delegation to attract additional investors to Nigeria’s mining sector, stressing the vast untapped mineral resources across the country.
Also speaking, Senator Mohammed Alero commended the delegation for their timely investment, noting the country’s strategic shift from oil dependence to other revenue-generating sectors.
“You’ve come at the right time. The federal government is diversifying its revenue sources and solid minerals is a key focus. We’ll work closely with the Ministry of Solid Minerals and relevant stakeholders to fast-track your licensing and operational access,” Alero stated.
He assured that engagements would be held with governors and traditional rulers to ensure the investors operate without hindrance at the grassroots level.
Mr. Chen Twan, the group leader, affirmed their readiness to explore Nigeria’s mining and industrial park opportunities, stating that the group’s initial $500 million investment could expand to $1 billion if conditions prove favorable in the first year.
“If we test the waters and find a supportive environment, we are ready to attract more investors and expand operations to other mineral-rich states,” he said.
Representing Nigerian interests, Mr. Adamuta, Managing Director of Exterdam Exploration, noted that the Chinese firms had undertaken due diligence, including visiting factories and reviewing processes in China over the last two years.
“They are coming through our licenses and structures. With the Senate’s assurance, they are more confident about investing significantly in Nigeria,” Mr. Adamuta stated.
He revealed that the companies are not just here for mining but are also exploring opportunities in industrial development.
