The Federal Government has place a banned on the exportation of raw solid minerals outside the shores of the country by mining companies.
Dele Alake, the minister of solid minerals development, disclosed this at the groundbreaking ceremony of a Chinese N250 million USD Ganfeng Lithium Mining Company’s factory, in Endo Village, Udege Development Area, Nasarawa Local Government Area in Nasarawa State, on Thursday.
According to the Minister, the era of exporting raw solid minerals from Nigeria is over as the Federal Government would henceforth only give license to mining companies that would add local value addition to these resources.
Alake therefore called on all mining companies currently mining and exporting raw minerals to review their business strategy and follow this path of economic recovery before its too late.
“I want to emphasize the fact that the era of exporting raw solid minerals from Nigeria is over.
“Ladies and gentlemen, any company wishing to come and invest in the solid minerals sector in Nigeria henceforth must add local value. Without that, we shall no longer license any company, anybody, any institution, any corporate organization that doesn’t have local value addition as an integral factor of the execution of its project,” the Minister added.
While noting the significance of the groundbreaking and foundation laying ceremony for the factory, especially to the Renewed Hope Agenda of the President Bola Tinubu administration, Alake commended the Governor Abdullahi Sule, for giving the needed encouragement from inception, leading to this particular event.
He also appealed to the traditional rulers and indigenes of Endo community to cooperate with the corporate citizen that have chosen to live with them as a business partner.
