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Minister woos investors with opportunities in mining sector 

By Tunde Oyedoyin, London 
01 October 2022   |   4:32 am
Investors looking for attractive returns on their capital have been tasked with taking advantage of the opportunities in the Nigerian mining sector.

Olamilekan Adegbite is Nigeria’s Minister of Solid Minerals and Steel Development

Investors looking for attractive returns on their capital have been tasked with taking advantage of the opportunities in the Nigerian mining sector. 

Minister of Steel and Mines, Mr. Olamilekan Adegbite, made the call yesterday, during the two-day Nigerian Global Economic Summit (NGES) at the Hilton Kensington Hotel.

Speaking through a video broadcast, the minister said there were opportunities in both the downstream and upstream sectors.

Mining, he said, “is at its infancy stage “ and could “generate employment,”, especially for the “teeming youth” population in various states in the country.

Adegbite further stated that among other incentives, the sector has one of the best rates of capital returns in the world.

“The royalty rate is the best in Africa,” he said, noting that just “three to five per cent is what we charge.” 

Consultant gynaecologist, Prof. Rotimi Jaiyesinmi of Trojan Medical Group, also spoke at the summit, saying there was need for investment in “digitalisation” of medical records.

He argued that without the digitalisation of medical services, there were “delayed diagnosis” and preventable “deaths.”

The chief executive officer of Castles Homes, Dipo Davies, told attendees of opportunities in the real estate sector.

According to him, the siting of the Dangote refinery in the Ibeju Lekki axis of Lagos makes it an attractive area for those willing to exercise patience for a few years to see their lands appreciate in value.
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