The Federal Government has stepped up efforts to transform Nigeria’s mining sector, with the Minister of Solid Minerals Development, Dele Alake, expressing the country’s readiness to tap into Canada’s advanced mining technology and global expertise to accelerate ongoing reforms.
Alake made this known while hosting the Canadian High Commissioner to Nigeria, Pasquale Salvaggio, in Abuja. According to a statement from the minister’s media aide, the meeting focused on expanding bilateral cooperation to unlock the full economic potential of Nigeria’s solid minerals industry.
The minister said stronger collaboration with Canada would help Nigeria attract foreign investment, adopt global best practices, and promote sustainable growth across the mining value chain. He also recalled Canada’s support for Nigeria during its pro-democracy struggle following the annulment of the June 12, 1993, presidential election, describing Canada as a longstanding democratic ally.
Alake emphasised that the Federal Government is working to create a transparent and investor-friendly environment in the mining sector. Key priorities include formalising artisanal mining operations, improving regulatory oversight, strengthening professional capacity, encouraging technology transfer, and reducing illegal mining activities.
He noted that government policies are aimed at reducing investment risks and increasing foreign direct investment. Incentives introduced to attract investors include tax waivers on imported mining equipment and the assurance of full profit repatriation after compliance with statutory requirements such as taxes and royalties.
In his response, High Commissioner Salvaggio commended Nigeria’s recognition of Canada’s leadership in the global mining industry and highlighted the strong diplomatic and economic ties between both countries. He stated that Nigeria is Canada’s second-largest trading partner in Africa and identified mining as a key area for expanded cooperation.
The envoy praised the establishment of the Nigeria Solid Minerals Company, describing it as a strategic move that could strengthen governance and boost investor confidence in the sector. He also referenced the strong people-to-people connections between both nations, including a vibrant Nigerian diaspora community in Canada.
Salvaggio expressed optimism that Nigeria could become Canada’s largest trading partner in Africa within the next decade, citing Nigeria’s entrepreneurial drive and economic potential.
He also encouraged the Federal Government to revisit and expedite the ratification of the Foreign Investment Promotion and Protection Agreement (FIPA), noting that its implementation would enhance investor protection and confidence.
He further offered Canada’s support in expanding capacity-building programmes, including replicating technical training initiatives for Nigerian mining professionals and promoting additional knowledge exchange opportunities.
Responding to the proposal, Alake acknowledged that the investment agreement predates the current administration but assured that the government is willing to review and fast-track it in line with national economic priorities. He reiterated President Bola Tinubu’s commitment to attracting foreign investment as a key driver of economic diversification, job creation, and sustainable development.
Both parties agreed to establish a joint working group to identify priority areas of cooperation and set timelines to ensure tangible outcomes from the renewed partnership.
Nigeria has intensified reforms in the solid minerals sector as part of broader efforts to reduce reliance on oil revenues. Recent initiatives focus on improving transparency, curbing illegal mining, and strengthening institutional frameworks to attract global investors.
Canada, widely recognised for its mining technology, governance standards, and financing capacity, remains a major global player in the industry. Analysts believe closer Nigeria-Canada collaboration could help unlock significant mineral resources in Nigeria, including lithium, gold, and rare earth elements essential for the global energy transition.