Ibidopo Lawal, managing director and chief executive officer (CEO) of Neveah Limited, a commodities trading company, says President Bola Tinubu’s administration is providing incentives to make the solid minerals sector attractive to foreign investors.
According to a statement on Thursday by the firm, Lawal spoke at the ongoing London Metal Exchange (LME) seminar.
The London Metal Exchange is the trading and price formation venue of industrial metals globally, with an annual trade volume of $15.2 trillion annually.
LME employs a set of rules and regulations which form the basis of sustaining an orderly market.
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“This year, Neveah intends to shed light on the far-reaching strides made by Nigeria in the solid minerals sector, to promote the country as one of the key destinations,” the statement reads.
“Thereby encouraging global interest and ultimately, attracting foreign direct investment in Nigeria’s mining industry.
“To achieve this, in its address, Neveah presents an overview of Nigerian base metals, describing the current state of the Nigerian solid minerals sector and the steps the government is taking to promote and regulate mining activities in the country.
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“This address will highlight incentives such as the pioneer tax status, export expansion grant, and the RT 200 non-oil export proceeds repatriation rebate scheme, while also highlighting the efforts that have been made to formalise and regulate artisanal and small-scale mining to ensure responsible sourcing and revenue generation in the country.”
Lawal also encouraged other indigenous businesses to take steps towards promoting their business activities globally, adding that “nobody can tell our stories or champion our cause as we can”.
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