Share
Olugbemi. Adeyinka Ogunleye
1 week ago
Overview
Venezuelan investors eye Nigeria's mining sector
Investment opportunities in Nigeria’s mining sector took centre stage in discussions between the Minister of Solid Minerals Development, Dr. Dele Alake, and Venezuela’s Deputy Minister of Mining, Alejandro Martinez, on the sidelines of the ongoing Mining Indaba in Cape Town, South Africa.
Alake disclosed this while receiving the Venezuelan delegation, reflecting on the shared history of both countries as major oil producers. He noted that the global shift towards green energy and economic diversification has made it imperative for nations like Nigeria and Venezuela to explore alternative revenue sources, particularly in solid minerals.
Alake said: “Nigeria focused on petroleum. Now, the world is moving to green energy. Compulsorily, we have to shift our attention to our minerals. Diversification of the economy is a core component of President Tinubu’s Renewed Hope Agenda, and we have a lot of the minerals that the world requires. These include critical minerals like lithium, cobalt, nickel, and rare earth elements required by the world for energy transition.”
Alake, in a statement by his Special Adviser, Kehinde Bamigbetan, emphasised the need for Nigeria and Venezuela to collaborate on sustainable resource exploitation, ensuring maximum benefits for their citizens. He added: “I can assure you of Nigeria’s readiness to cooperate with Venezuela in areas of exploitation of our minerals, trade in minerals, and production spanning the entire value chain. Take lithium, for instance, we don’t want our lithium to be extracted and carted away.”
The minister invited Venezuela to join a new coalition of African, Asian and Middle Eastern countries in mining. Addressing the minister and his team, Martinez thanked Alake for his understanding of the peculiar similarities of both oil-producing countries now seeking alternatives for their economies in the solid minerals sector.
MEANWHILE, the Plateau State Governor, Caleb Mutfwang, has expressed deep concern over the alarming rate of school dropouts in mining communities in the state.He said findings revealed a drastic decline in school enrollment in areas such as Bassa, Riyom, Jos South, and Barkin Ladi Local Council areas of the state.
Against this backdrop, the governor vowed to tackle illegal mining, which, he said, has significantly contributed to the high rate of school dropouts in the affected councils. Mutfwang also called on community and religious leaders, as well as all patriotic citizens, to join hands with the state government in addressing the menace, which he described as a serious threat to the state’s values and future.
The governor spoke during a church service at the COCIN Headquarters in Jos, the State capital, where he emphasised the need for unity among believers as a foundation for sustainable development in Plateau State
Credit: Punch
