By Achile Danjuma
The Federal Government is ramping up efforts to overhaul Nigeria’s mining sector, turning to Canada for its world-renowned expertise and advanced technology. Minister of Solid Minerals Development, Dr. Dele Alake, stated that this partnership is key to accelerating ongoing reforms and unlocking the industry’s vast economic potential.
During a meeting with the Canadian High Commissioner, Pasquale Salvaggio, in Abuja on Thursday, the Minister emphasized that deeper bilateral ties would bolster Nigeria’s drive to attract investment, entrench international best practices, and foster sustainable growth.
Dr. Alake framed the renewed economic push within the context of a strong, historic diplomatic relationship, specifically recalling Canada’s support for Nigeria’s pro-democracy movement following the annulment of the June 12, 1993, presidential election.
“Canada stood firmly with the Nigerian people during our pro-democracy struggle. The cooperation we enjoyed from the Canadian High Commission was exemplary and deeply encouraging,” Alake recalled. “Today, we are committed to strengthening that relationship, particularly in mining and mineral development, where Canada’s global reputation for excellence is well established.”
To make Nigeria a top-tier investment destination, the Minister outlined a comprehensive strategy focused on creating a transparent, secure, and investor-friendly environment. Key priorities include the formalization of artisanal mining, capacity building for local professionals, technology transfer, and stricter regulatory oversight.
“We are working deliberately to de-risk the mining environment,” Alake stated. “Our focus is on attracting foreign direct investment, strengthening regulatory frameworks, building the capacity of Nigerian mining professionals, and formalizing artisanal mining to reduce illegal operations and enhance revenue generation.”
He highlighted competitive incentives designed to boost investor confidence, such as tax waivers on imported mining equipment and a guarantee of full profit repatriation after statutory obligations like taxes and royalties are met. “These incentives reflect our commitment to creating a stable and competitive investment climate,” he added.
High Commissioner Salvaggio welcomed Nigeria’s recognition of Canada’s role in its history and its leadership in mining. He noted that as Nigeria is already Canada’s second-largest trading partner in Africa, the mining sector presents a prime opportunity to significantly expand economic ties.
“Nigeria is a strategic partner for Canada. We see significant opportunities to expand our trade and investment cooperation across several sectors, especially mining, where Canada has global expertise and Nigeria has immense potential,” the envoy said.
Salvaggio specifically praised the newly established Nigeria Solid Minerals Company as a “commendable step” that signals to global investors Nigeria’s commitment to sectoral development and good governance. He also pointed to the strong people-to-people connections, including the vibrant Nigerian diaspora in Canada, as a solid foundation for deeper economic collaboration.
“I am confident that Nigeria could become Canada’s largest trading partner in Africa within the next five to ten years, given its dynamism, entrepreneurial spirit, and commercial outlook,” Salvaggio remarked, adding that Nigeria is currently the sixth-largest recipient of Canadian development cooperation globally, underscoring the partnership’s depth.
To facilitate increased investment, the High Commissioner urged the Federal Government to revisit and finalize the long-stalled Foreign Investment Promotion and Protection Agreement (FIPPA), signaling Canada’s readiness to move forward.