Minning: Senate assures of enabling laws to protect investments 

The Senate Committee on Solid Minerals has assured investors of strong legislative backing to protect and guarantee returns on their investments in Nigeria’s solid minerals sector.

Senator Onawo Mohammed Ogoshi, acting Chairman of the Committee and representative of Nasarawa South, gave the assurance over the weekend during an interactive session between the Senate Committee and a Chinese delegation exploring investment opportunities in Nigeria.

The delegation, representing Zong Hong Kotai Group, has opened discussions for an initial investment of $500 million in three Nigerian states: Zamfara, Kebbi, and Nasarawa.

Senator Ogoshi noted that Nigeria is eager to diversify its revenue base and assured the delegation that the Senate is committed to enacting and amending laws to create a conducive environment for foreign investors.

“The Nigerian Senate is committed to providing all necessary encouragement to facilitate the injection of such huge capital into our economy,” Ogoshi said. “Our current laws on solid minerals exploration are robust, and we plan to strengthen them further by amending outdated sections and introducing new provisions to ensure investor protection and ease of doing business.”

He encouraged the delegation to bring in more investors, saying Nigeria is open for business and rich in untapped mineral resources.

Former Kebbi State Governor and Senator representing Kebbi Central, Adamu Aliero, who is also a member of the committee, commended the Chinese group for their bold initiative.

“You’ve come at a crucial time when Nigeria is actively pursuing economic diversification,” Aliero stated. “We have realized that we can no longer rely solely on oil. Solid minerals offer vast potential, and we welcome your interest in the sector.”

He assured the delegation of full parliamentary support, including collaboration with the Ministry of Solid Minerals for licensing and engagement with governors and traditional institutions to ensure access to exploration sites.

Earlier, the leader of the Chinese delegation, Mr. Chen Twan of Zong Hong Kotai Group, confirmed plans to invest $500 million in the initial phase across Zamfara, Kebbi, and Nasarawa states. He expressed hope that favorable conditions would lead to further investments in other mineral-rich states.

“If we test the waters and the environment is right, we’ll bring in more investors,” he said. “Our company specializes in mining and bitumen, and we have made substantial investments across the globe. We are now exploring opportunities in Nigeria’s mining and industrial park sectors.”

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Mr. Adamu Tah, Managing Director of El-Tahdam Exploration Limited and representative of Nigerian partners, vouched for the Chinese group’s credibility.

“For the past two years, we’ve engaged with them and visited their factories in China,” he explained. “They are not entering the country blindly; they’re building on the licenses we’ve already acquired and are fully aligned with Nigerian laws.”

Tah added that Senate support has encouraged the investors, and if the first phase is successful, the group is prepared to inject an additional $1 billion into Nigeria’s solid minerals sector.