The Minister of Mines and Steel Development, Olamillekan Adegbite, has said that the Federal Government of Nigeria received over $1 billion in foreign direct investments for the mining sector in recent times. He spoke during his presentation of the ministry’s achievements at the 9th edition of the PMB Scorecard series.
He also said the ministry engaged over 500 prospective mining investors through international conferences, some of which, he said, had started setting up businesses in Nigeria.
He listed some of them as Segilola Gold Company in Osun State, with an investment portfolio of $900 million that has paid about $2.3 million to the Nigerian government in royalties. Adegbite said: ”There is African Natural Resources Ltd with an investment profile of $600 million, Kano Smith Gold Refinery, Duka Gold and Precious Metals.”
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