Charity Nwakaudu, Abuja
The Federal Government has reiterated its commitment to providing 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 the mining industry has huge potential, thus invited more investors to join the sector.
Adegbite said that incentives already provided had started attracting more miners to Nigeria before the COVID-19 pandemic broke out, noting that it created a short disruption.
He stated that some of the incentives are three years tax holiday, which can be extended to five years and Customs duty waiver 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 a virtual one due to COVID-19 pandemic, which has redefined socioeconomic activities.
In his remarks, the President, Miners Association of Nigeria (MAN), Mohammed Kankara, expressed joy at the opportunity to showcase the country’s mining sector and attract investors.