Federal Government, on Friday, renewed its commitment to provide major incentives for mining companies in the country to make sure they succeed.

Minister of Mines and Steel Development, Olamilekan Adegbite, who spoke at a press conference to mark the 5th annual Nigeria mining week with the theme “Nigeria’s mining ministry unites industry in quest for prosperity”, in Abuja, disclosed that mining industry has huge potentials, thus inviting more investors to join the sector.

Adegbite said that already provided incentives are beginning to attract more miners to Nigeria shortly before the COVID-19 pandemic outbreak, hence the short disruption in opportunities.

He stated that some of the incentives are tax holiday of three years that is subject to extension to five years, Customs and duty waver on all mining equipment. “So, if you are bringing mining equipment to Nigeria, just apply through the Ministry and waiver would be granted,” he said.

The Minister, however, explained that this year’s event would be digitally based due to COVID-19 pandemic which has redefined socioeconomic activities.

He, however, promised that the event will be a week long event next year after the COVID-19 pandemic must have subsided.

In his remarks, the President, Miners Association of Nigeria (MAN), Mohammed Kankara, said it’s time to showcase the country’s mining sector and create opportunities for investors.

He added that, though, Nigeria is still learning from South Africa as far as mining is concern but will soon be listed among great mining nations.

He said: “This year’s event is aimed at providing support for the development of the local workforce, mechanisation of the industry and facilitating the dialogue between private and public sectors across the value chain in order to boost the future of mining in Nigeria through collaboration and partnerships.

“This edition is an innovative engaging platform delivering trusted information, providing content and solutions for local and international stakeholders across the value chain, starting from key mining companies and investors to small scale miners and government representatives, all looking at the future of Nigerian mining together.

Source : sun


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