Tuesday, 24th October 2006 (1467 views)

The Nigerian government has pledged to protect mining exploration within the country in order to encourage a favourable investor environment as well as benefiting local residents.

Leslye Obiora, the minister of solid minerals development, has pledged that the government is committed to ensuring that all potential investors in the sector will be able to benefit from any finds as well as ensuring local employment and stability for local communities.

A statement from Ms Obiora explained that the Nigerian government is optimistic of introducing a workable service framework and encouraging investor friendliness.

She added the reforms would "give Nigeria one of the best mining legislations in the world which will protect foreign investors while balancing the requirements of the National Economic Empowerment and Development Strategy (Needs) of employment for Nigerians and empowerment for the host mining communities".

In addition, it was confirmed that the 1976 Land Use Decree, which vested ownership of all Nigerian land to the government and the exclusive government mining jurisdiction, still runs.

 

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