Vice President Kashim Shettima announced on Wednesday that Nigeria's mining sector attracted over $2.6 billion in Foreign Direct Investment (FDI) over the past 30 months. He attributed this inflow to reforms implemented by President Bola Tinubu's administration, which aim to de-risk the mining environment and boost investor confidence.
Speaking in Abuja at the commissioning of the Kursi Group headquarters, established by Ambassador Abdulfatai Yahaya Seriki Gambari, Shettima stated that Nigeria is no longer willing to remain a mere warehouse of raw materials. He emphasized that local value addition is now a central condition for mineral licensing in the country.
Shettima highlighted that enterprises refining gold and processing lithium within Nigeria will accelerate industrialization and strengthen the nation's role in the global green energy transition. He stressed that economic power is built on a country's ability to maximize the value of its natural resources.
After the commissioning, Shettima, along with Kwara State Governor AbdulRahman AbdulRazaq and other dignitaries, toured the facility, which includes a refining factory and a modern minerals marketing and tracking platform. The event attracted investors, traditional rulers, and religious leaders from Kwara State and beyond.
