Minister of State, Mines and Steel Development, Dr. Uchechukwu Sampson Ogah has said that about 44 different minerals in commercial quantities in the country, urging the Republic of Korea to invest in Nigeria’s solid minerals sector for the mutual benefit of both countries.
The Minister also added that Korea could source raw materials from Nigeria for its manufacturing and technological industries.
The Minister spoke when the Korean Ambassador to Nigeria, Kim Young-Chae visited the Ministry headquarters in Abuja.
In a release made available to ABN TV on Friday by Tine-Iulun M. A on behalf of the Head Press & Public Relations Unit of the Ministry, Dr. Ogah, while soliciting for increased collaboration, suggested a zoom meeting between the Korean investors and the Ministry to enable the Ministry to educate them of the possible areas of investment in the nation’s mining sector.
He noted that the Federal Government’s Policy on the Ease of Doing Business is to offer investors fiscal incentives, investment guarantees as well a stable political and legal environment.
In his comment, the Minister of Mines and Steel Development Arc. Olamilekan Adegbite stated that Nigeria has collaborative prospects that would be mutually beneficial to both countries, saying “limitless opportunities abound for both countries to cooperate on”
Adegbite while disclosing the Ministry’s effort towards ensuring that raw ore are not taken out of the country without proper beneficiation process for value addition, noted that the mining industry could be a hub for the Korean technological market. He assured of the Federal Government’s commitment towards curbing the spate of insecurity ravaging the country and restore peace.
Earlier, Ambassador of the Republic of Korea, Kim Young-Chae, who said he has been in the country for 100 days, disclosed that there are about 23 Korean Companies operating in Nigeria while many others have huge investment interest in the mining sector.
Ambassador Kim Young-Chae, noted that achieving policy sustainability as well as the Federal Government’s Policy on the Ease of Doing Business would encourage investors to key into the developmental goals of the administration.