The Federal Government has assured foreign investors in Nigeria’s solid minerals sector that it will leverage the country’s status as a signatory to the Cape Town Convention on International Interests in Mobile Equipment to safeguard their investments.
Minister of Solid Minerals Development, Dele Alake, gave the assurance at the signing of an Engineering, Procurement and Construction Management (EPCM) Memorandum of Understanding between Dukia Gold and Precious Metals Refining Company Limited and SGS Bateman. The ceremony took place on the sidelines of the Investing in African Mining Indaba in Cape Town, South Africa.
Alake said Nigeria’s participation in the Cape Town Convention, also known as the Cape Town Treaty, provides strong assurances to international financiers, leasing companies, equipment suppliers and technical service providers.
“It is important to note that Nigeria is a signatory to the Cape Town Convention on International Interests in Mobile Equipment. This provides a robust assurance framework for international financiers and service providers,” he said.
According to him, the convention strengthens investor confidence by guaranteeing internationally recognised protections for mining equipment and mobile assets deployed in Nigeria, a key consideration for project finance, asset leasing and structured procurement.
The Minister described the Dukia–SGS Bateman partnership as a milestone that signals Nigeria’s growing profile in the global mining value chain. He reiterated that the mining sector remains central to the country’s economic diversification strategy.
Alake highlighted reforms introduced by the Federal Government to unlock opportunities in the sector, including improved regulatory clarity, streamlined licensing processes, investor-friendly fiscal incentives and infrastructure prioritisation.
“The sector has been recording growth, with mining contributing more significantly to GDP,” he stated.
He endorsed the Dukia–Arinola Mineral Resources Development Project in Ondo State as emblematic of Nigeria’s future mining model, emphasising its focus on local value addition, beneficiation and integrated Mine-to-Market development.
The project, located in Ose and Owo Local Government Areas within the Igarra Schist Belt, spans approximately 184 square kilometres across multiple licences and has undergone geological mapping, geochemistry, geophysics, trenching and diamond drilling.
Alake said the initiative aligns with Nigeria’s ambition of achieving a $1 trillion GDP economy by 2036, noting that it would stimulate economic activity, create jobs and deepen local procurement.
He also invited world-class mining contractors, engineering firms and equipment manufacturers to participate in the project as it moves into execution phases, adding that structured Requests for Proposals and Expressions of Interest would be issued.
Chairman of Dukia Gold and Precious Metals Refining Company Limited, Tunde Fagbemi, described the MoU as a strategic step toward feasibility-driven execution and long-term mineral beneficiation.
SGS Bateman, a global engineering and mineral processing solutions provider, will offer expertise in process flowsheet development, procurement strategy, project controls and construction management.
The Federal Government reiterated its commitment to responsible sourcing, assured provenance and transparency as it positions Nigeria as an emerging hub for critical and strategic minerals.
Friday Olokor
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