Nigeria will get a new beginning ― Osinbajo
Professor Yemi Osinbajo

By Peter Egwuatu

The Vice President of Nigeria , Prof Yemi Osinbajo, has indicated that the Federal Government   is now committed to the revitalization and development of the mining sector to attract more local and foreign investments.

Disclosing this in his remarks at the opening of the 5th Annual Nigeria Mining Week Discourse Series, with the theme, “Top Seven Reasons to Invest in Nigeria’s Mining Sector, Osinbajo stated that within the space of a year, the sector recorded a 26.7% increase in revenue generation from 2019 to 2020.

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Highlighting the inflow of notable investments already recorded in the sector, the Vice President stated: “These investments include Thor Exploration Limited’s Segilola Gold Mine in Osun State, with an initial production capacity of 80,000 ounces of gold annually, representing the first large-scale gold mine in Nigeria”.

He added:   “In June last year, I also had the privilege of commissioning the Dukia Gold & Precious Metals Refinery (DGPMR) Project. The Company set out to be a foremost indigenous refiner and trader of gold and other precious metals. Its potential impact on the gold sector is nothing short of revolutionary.

“By providing off-take opportunities through the establishment of precious metals buying centres, it serves as a spur for more small and medium scale mining investment, while its refinery symbolizes its focus on value addition in the gold and precious metals industry in Nigeria and West Africa.”

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