Foreign Investment in Nigeria: A Focus on the Mining Sector

Babatope Agbeyo, Chairman of Gem Giant Ltd, advocates for foreign investment in Nigeria’s mining sector, citing a supportive environment post a Community Development Agreement with the Faforiji Community. He calls for state governments to facilitate mining operations and ensure safety, while community leaders express hope for mineral discoveries that benefit both business and the community.

In an appeal to foreign investors, Babatope Agbeyo, Chairman of Gem Giant Ltd, emphasized Nigeria’s mining sector as an ideal investment destination. Following a successful Community Development Agreement (CDA) with the Faforiji Community in Osun State, he highlighted the conducive, safe, and secure environment for investment. Agbeyo urged state governments to facilitate mining operations to foster community development and bolster the economy at both state and national levels.

Agbeyo further requested state governments to ensure a supportive atmosphere for mining investors and to secure the safety of employees and community members during operations. He underscored the importance of government mediation to resolve any disputes between involved parties, advocating for adherence to regulations and Environmental and Social Impact Assessment (ESIA) protocols by mining companies.

Furthermore, Oba (Dr) Adebayo Faforiji, the King of the Faforiji Community, praised Gem Giant for its initiative in exploring the community’s mineral potential, specifically advocating for the discovery of gold deposits. He expressed gratitude that a local company seeks to investigate the area’s resources, which had been speculated but never explored.

The ceremony culminated in the foundation-laying event for Gem Giant’s office in Faforiji, with the King overseeing proceedings. With the CDA in place, Gem Giant Ltd is prepared to initiate its exploration activities, emphasizing the importance of benefiting the local community while adhering to environmental and social responsibility standards.

In summary, the appeal from Babatope Agbeyo highlights the significant opportunities within Nigeria’s mining sector for foreign investors. With supportive state governments and a commitment to community welfare and environmental practices, Gem Giant Ltd exemplifies a model for successful mining operations. The enthusiasm expressed by community leaders further underscores the potential for mutually beneficial outcomes in this emerging sector.

Original Source: businessday.ng