The federal government says it is intensifying efforts to overhaul Nigeria’s underperforming mining sector, declaring its readiness to leverage Canada’s technology and global expertise to unlock the industry’s economic potential.
Minister of Solid Minerals Development, Dele Alake, made the disclosure on Thursday while receiving the Canadian High Commissioner to Nigeria, Pasquale Salvaggio, in Abuja, according to a statement issued by his Special Assistant on Media, Segun Tomori.
Alake said deeper bilateral cooperation with Canada would help Nigeria attract foreign investment, institutionalise international best practices and drive sustainable growth in the mining sector.
He recalled Canada’s support for Nigeria during the pro-democracy struggle that followed the annulment of the June 12, 1993 presidential election, describing the country as a steadfast ally at a critical moment in Nigeria’s political history.
“Canada stood firmly with the Nigerian people during our pro-democracy struggle. The cooperation we enjoyed from the Canadian High Commission was exemplary and deeply encouraging. We regarded Canada as an archetypal pro-democracy ally,” Alake said.
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He added that Nigeria is now keen to strengthen ties in the mining sector, where Canada maintains a global reputation for technical competence, governance standards and financing capacity.
The minister stated that the federal government is prioritising the formalisation of artisanal mining, professional capacity building, technology transfer and tighter regulatory oversight as part of broader reforms aimed at sanitising the sector.
“We are working deliberately to de-risk the mining environment. Our focus is on attracting foreign direct investment, strengthening regulatory frameworks, building the capacity of Nigerian mining professionals, and formalising artisanal mining to reduce illegal operations and enhance revenue generation,” he said.
Alake highlighted incentives introduced to boost investor confidence, including tax waivers on imported mining equipment and guarantees of full repatriation of profits after statutory obligations such as taxes and royalties are met.
“These incentives reflect our commitment to creating a stable and competitive investment climate. Investors are guaranteed full repatriation of their profits after fulfilling all legal obligations,” he stated.
In his remarks, Salvaggio commended Nigeria’s acknowledgement of Canada’s historical role in its democratic journey and described the mining sector as a major area of untapped bilateral opportunity.
“Nigeria is a strategic partner for Canada. We see significant opportunities to expand our trade and investment cooperation across several sectors, especially mining, where Canada has global expertise and Nigeria has immense potential,” the envoy said.
He noted that Nigeria is currently Canada’s second-largest trading partner in Africa and expressed optimism that it could become the largest within the next decade.
Salvaggio also praised the establishment of the Nigeria Solid Minerals Company, describing it as a strong signal to global investors about the government’s seriousness in strengthening governance and attracting capital into the sector.
The envoy urged the Federal Government to expedite the ratification of the stalled Foreign Investment Promotion and Protection Agreement (FIPA), saying it would significantly enhance investor confidence and guarantee investment security.
“The ratification of FIPA will significantly enhance investor confidence and guarantee investment security. We encourage the Nigerian government to expedite this process,” he said.
He further disclosed Canada’s readiness to expand capacity-building initiatives, including replicating the 2025 training programme for Nigerian mining professionals at the University of Calgary in Alberta and supporting additional technical exchange schemes.
Responding, Alake said the agreement predates the current administration but assured that it would be reviewed and possibly fast-tracked in line with Nigeria’s economic priorities under President Bola Tinubu.
“The current administration is focused on economic transformation. We recognise the role of foreign direct investment in job creation and sustainable development, especially for our youthful population.
“We are open to reviewing the agreement and ensuring that it supports our national economic priorities,” he said.
Both countries agreed to set up a joint working group to identify priority areas of cooperation in the mining sector and develop clear timelines for measurable outcomes.
