Foreign Investment Opportunities in Nigeria’s Mining Sector

Babatope Agbeyo urges foreign investors to prioritize Nigeria, especially in mining, following the signing of a Community Development Agreement with the Faforiji Community. He advocates for supportive state governments and emphasizes the need for safety and adherence to environmental regulations. The local community, represented by Oba Faforiji, expresses optimism for mineral discoveries that will benefit both the company and the area.

Babatope Agbeyo, the Chairman of Gem Giant Ltd, has encouraged foreign investors to consider Nigeria as their investment destination, particularly in the mining industry, which he believes is both conducive and secure. His appeal follows the recent signing of a Community Development Agreement (CDA) with the Faforiji Community in Osun State, strengthening the partnership between mining activities and community development.

Agbeyo urged state governments to foster an environment conducive to mining activities, which enhances the development of host communities and contributes to the economic vitality of both the state and the nation. He emphasized the importance of state governments being accommodating towards mining investors, assuring safety and security for staff and community members involved in these operations.

Additionally, he called upon the government to mediate peace among involved parties whenever conflicts arise, advocating for compliance with regulations and Environmental and Social Impact Assessment (ESIA) standards among mining companies.

Oba (Dr) Adebayo Faforiji, the King of Faforiji, praised Gem Giant for its proactive approach in exploring the mining potential of the community. He expressed optimism for discovering gold and other minerals that would benefit both the company and the local community, expressing gratitude for the engagement with a locally-rooted company devoted to exploring these resources.

The occasion included a foundation-laying ceremony for Gem Giant’s office in Faforiji, marking the commencement of exploration activities geared towards community welfare while committing to international best practices in environmental and social responsibility.

In conclusion, Babatope Agbeyo’s appeal highlights the potential for foreign investment in Nigeria’s mining sector. With the recent partnerships and government support, the environment for mining is poised to become increasingly favorable. The collaboration between mining companies and local communities, as exemplified by the Faforiji Community’s agreement with Gem Giant, signals a promising future for economic development and resource exploration in Nigeria.

Original Source: businessday.ng