President Bola Ahmed Tinubu has instructed the Federal Ministry of Solid Minerals Development to only issue mining licenses if they are tied to local value addition.
This is to ensure that young Nigerians are actively engaged in economic activities, acquiring skills and contributing to the overall development of the economy.
The President gave the directive on Wednesday during the opening session of the African Natural Resources & Energy Investment Summit, 2024, held at the State House Conference Centre, Abuja.
President Tinubu, who was represented at the event by his deputy, Vice President Kashim Shettima, said his administration is fully committed to creating an enabling business environment to attract investment that encourages ‘value addition’ on solid minerals before they are exported.
Earlier, in his opening remarks, Minister of Solid Minerals Development, Dele Alake, announced the government’s strategy under the Renewed Hope Agenda to position Nigeria as a major player in the global minerals market.
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.
