Foreign investors assured of strong protections in Nigeria’s mining sector – Alake
The Minister of Solid Minerals Development, Dele Alake, has assured foreign investors that Nigeria will leverage its status under the Cape Town Convention on International Interests in Mobile Equipment to safeguard investments in the mining sector.
Alake spoke at the signing of an Engineering, Procurement and Construction Management (EPCM) Memorandum of Understanding between Dukia Gold & Precious Metals Refining Company and SGS Bateman during the Investing in African Mining Indaba in Cape Town, South Africa.
He explained that Nigeria’s participation in the Cape Town Convention provides internationally recognised legal protections for mobile mining equipment and assets. The framework, he said, strengthens investor confidence by guaranteeing clear remedies in cases of default, including repossession rights and protection during bankruptcy proceedings. This is particularly important for project financing, equipment leasing and structured procurement.
The minister described the Dukia–Arinola Mineral Resources Development Project in Ondo State as a major step in Nigeria’s push to strengthen its position in the global mining value chain. He said the project reflects the government’s economic diversification agenda and focus on local value addition.
Alake highlighted reforms introduced to improve regulatory clarity, streamline licensing processes, offer investor-friendly fiscal incentives and prioritise infrastructure development. According to him, these efforts are already yielding results, with mining contributing more significantly to national GDP.
He noted that the Dukia–Arinola project is structured around a scalable polymetallic processing model that will support phased growth from early operations to full industrial capacity. The initiative, he added, will stimulate economic activity, create jobs and enhance Nigeria’s ability to connect mineral production to domestic and international markets.
Alake encouraged global mining contractors, engineering firms and equipment manufacturers to engage with the project as it progresses, while urging partnerships that promote local content and responsible sourcing.
He reaffirmed the government’s commitment to positioning mining as a key driver of GDP growth, foreign exchange earnings and long-term industrial competitiveness.
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