The Federal Government has intensified efforts to reposition Nigeria’s mining sector, with the Minister of Solid Minerals Development, Dele Alake, stating that the country is ready to leverage Canada’s advanced technology and global expertise to accelerate reforms and unlock the industry’s economic potential.
Alake made the disclosure while receiving the Canadian High Commissioner to Nigeria, Pasquale Salvaggio, at his office in Abuja on Thursday, according to a statement issued on Friday by his Special Assistant on Media, Segun Tomori.
The minister said deeper bilateral collaboration with Canada would support Nigeria’s quest to attract investment, entrench international best practices, and drive sustainable growth in the mining industry.
He also reflected on the long-standing diplomatic ties between the two countries, recalling Canada’s support for Nigeria during the pro-democracy struggle that followed 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. We regarded Canada as an archetypal pro-democracy ally,” Alake said.
He added, “Today, we are committed to strengthening that relationship, particularly in mining and mineral development, where Canada’s global reputation for excellence is well established. We believe enhanced cooperation will help accelerate sectoral growth, attract investment, and institutionalise global best practices.”
The minister reaffirmed Nigeria’s commitment to building a transparent and investor-friendly mining environment, stressing that the Federal Government is prioritising the formalisation of artisanal mining, capacity building for professionals, technology transfer, and improved regulatory oversight.
“We are working deliberately to de-risk the mining environment. Our focus is on attracting foreign direct investment, strengthening regulatory frameworks, building the capacity of Nigerian mining professionals, and formalising artisanal mining to reduce illegal operations and enhance revenue generation,” he said.
Alake highlighted several incentives designed to boost investor confidence, including tax waivers on imported mining equipment and full repatriation of profits after statutory obligations such as taxes and royalties are met.
“These incentives reflect our commitment to creating a stable and competitive investment climate. Investors are guaranteed the full repatriation of their profits after fulfilling all legal obligations. We are also introducing fiscal measures to ensure that Nigeria remains one of the most attractive mining destinations globally,” he added.
In his remarks, Salvaggio appreciated Nigeria’s recognition of Canada’s historic role in its democratic journey and commended the minister for acknowledging Canada’s leadership in the global mining industry.
He noted that Nigeria is Canada’s second-largest trading partner in Africa and highlighted the potential to expand trade relations, particularly in mining.
“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.
He also praised the establishment of the Nigeria Solid Minerals Company, describing it as a strategic initiative capable of boosting investor confidence and catalysing growth.
“The creation of the Nigeria Solid Minerals Company is a commendable step. It sends a strong signal to global investors about Nigeria’s seriousness in developing the sector and strengthening governance,” he added.
Salvaggio highlighted strong people-to-people ties between the two countries, including the Nigerian diaspora in Canada, noting that the relationship provides a solid foundation for deeper economic cooperation.
“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. Nigeria is currently the sixth-largest recipient of Canadian development cooperation globally, which underscores the depth of our partnership,” he said.
The envoy also emphasised Canada’s readiness to facilitate increased investment, urging the Federal Government to revisit the stalled Foreign Investment Promotion and Protection Agreement (FIPA).
“The ratification of FIPA will significantly enhance investor confidence and guarantee investment security. We encourage the Nigerian government to expedite this process,” he added.
He expressed Canada’s willingness to expand capacity-building initiatives, including replicating the 2025 training programme for Nigerian mining professionals at the University of Calgary in Alberta and supporting additional technical exchange programmes.
In response, Alake said the agreement predates the current administration but assured that the government is ready to review and fast-track its ratification.
He reiterated President Bola Tinubu’s commitment to attracting foreign direct investment as a pathway to economic growth and job creation.
“The current administration is focused on economic transformation. We recognise the role of foreign direct investment in job creation and sustainable development, especially for our youthful population. We are therefore open to reviewing the agreement and ensuring that it supports our national economic priorities,” he said.
Both countries agreed to establish a joint working group to identify priority areas of cooperation in the mining sector and develop clear timelines to ensure measurable outcomes from the renewed bilateral engagement.
Nigeria has intensified reforms in the solid minerals sector in recent years as part of broader efforts to diversify the economy away from oil dependence.
The government has introduced policies aimed at curbing illegal mining, strengthening regulatory institutions, and improving transparency to attract global investors.
Canada, regarded as a global leader in mining technology, governance, and financing, hosts some of the world’s largest mining companies and remains a major source of investment and technical expertise in the sector.
Industry experts believe stronger Nigeria-Canada collaboration could help unlock the country’s vast mineral resources, including lithium, gold, and rare earth elements critical to the global energy transition.
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