By John Okeke
The Federal Government, in its determined effort to improve the economic sphere of the country, create jobs for teeming Nigerian youths, provide infrastructural development and deliver on its mandate to diversify the economy from crude oil, is seeking Foreign investments for the development of the Minerals Sector in the country.
The Minister of State Mines and Steel Development, Dr Uchechukwu Sampson Ogah made this known when he delivered the “Special Address” at the Dubai World Expo 2021, with the theme “Investment in the Nigerian Gold Sector: Opportunities in the Gold Value Chain” held in Abu Dhabi recently.
Ogah, who was honoured with the “Excellence In Public Service Award” by FIN-Africa-UAE Trade and Investment Forum Dubai, expressed gratitude to His Royal Highness, Sheikh Hamdan bin Khalifa, for the whooping sum of $2bn pledged to Nigeria for the country’s sustainable development drive.
He assured of Federal Government’s commitment to ensure appropriate deployment of the funds, when the Agreement is signed.
Speaking further, the Minister noted that the the Expo, with participants from over 200 countries, provided the opportunity to showcase the potentials of Nigerian minerals sector on Dubai soil with special emphasis on gold and other precious minerals abundant in Nigeria.
His words, “I must confess that there cannot be a better platform to showcase the Nigeria Gold sub-sector than on this platform with notable global organizations and investors, minerals beneficiation companies, global financial institutions, commodity trading companies etc all in one event.
The Minister disclosed that the need for the diversification of the economy has become more compelling now in the post COVID-19 era. Adding that the Federal Government has established policies that will support sustainable development of Nigeria’s gold resources and development, as well as consideration of general matters on gold Mining Administration and Incentives.
He disclosed that the President Muhammadu Buhari led administration is determined to consolidate on the gains of diversification as it forms the critical backbone of industrialization.
In his remarks, Zulfiquar Ghadiyali, Executive Director, Royal Office of Sheikh Hamdan bin Khalifa and Global Peace Ambassador, United Nations, disclosed that the pledge of 2 billion dollars from its Sustainability Fund is to further cement the very close trade and bilateral relationship that exist between the two countries. He noted that peace in Africa can only be attained through sustainability development. Adding that, “if there is substantial development, you will automatically have peace”.
In a related development, the Minister of State, Dr. Uchechukwu Sampson Ogah, at the Intra-African Trade Fair 2021 held at the Durban International Convention Centre, South Africa, recently, with the theme, “Building Bridges for a Successful AfCFTA”, noted that the promotion of Intra-African Trade Fair is a unique platform for facilitating trade and investment as well as information exchange in support of African Continental Free Trade Area, (AfCFTA) is a great medium for accelerating Africa’s integrated development as a pivotal continent.
Ogah who revealed that Nigeria has unlimited trade opportunities that the African economy can leverage on, expressed appreciation to the organizers, African Export-Import Bank (Afreximbank) and the African Union Commission (AUC), the Republic of South African and the African Continental Free Trade Area (AfCFTA) Secretariat for the laudable event.
