The Nigerian Senate has rolled out the red carpet for a high-profile Chinese delegation, offering full legislative support for a landmark $500 million investment in the country’s solid minerals sector.
This development marks a significant stride in Nigeria’s efforts to reduce its reliance on oil revenues and tap into its vast mineral resources.
During a meeting with the Senate Committee on Solid Minerals Development, Mr. Chen Twan, leader of the Zong Hong Kotai Group, revealed plans to commence mining operations across three states – Zamfara, Kebbi, and Nasarawa.
The Chinese investors expressed particular interest in Nigeria’s untapped mineral deposits, with potential for expansion to a $1 billion investment if initial operations prove successful.
Senator Onawo Mohammed Ogoshi (Nasarawa South), speaking on behalf of the Committee Chairman, assured the delegation of comprehensive legislative backing. “We will create the necessary legal framework to protect your investments and ensure smooth operations,” Ogoshi stated, while encouraging the group to attract more foreign investors to Nigeria’s mining sector.
The investment comes at a crucial time as Nigeria intensifies its economic diversification agenda. Senator Mohammed Alero emphasized this strategic shift, noting: “This partnership aligns perfectly with our national goal of moving beyond oil dependence. We will engage state governors and traditional rulers to ensure your operations face no obstacles at the grassroots level.”
Representing Nigerian interests, Mr. Adamuta, Managing Director of Exterdam Exploration, confirmed the Chinese group had conducted extensive due diligence over two years, including factory visits and process reviews in China.
Notably, the investment extends beyond mining, with plans for industrial park development that could create significant job opportunities.
This collaboration signals growing international confidence in Nigeria’s mining sector and sets the stage for potentially transformative economic impact.
Industry experts suggest the deal could serve as a model for future foreign investments in Nigeria’s non-oil sectors.
