The Nigerian government plans to set up a mining corporation to drive sector development and reduce state interference, an official has said.
Segun Tomori, media assistant to Minister of Solid Minerals Development Dele Alake, announced the plan during a discussion with The Cable on X.
The Nigeria Solid Minerals Corporation will be managed by the Ministry of Finance Incorporated (MOFI) and have an ownership structure of 25% equity for Nigerian citizens, 25% for the federal government, and 50% for the private sector.
“That was designed to ensure that we wean off government interference and political interference even after this administration,” he said.
The announcement comes as Nigeria seeks to attract investment into its resources sector. In 2024, Alake proposed creating a special mining development bank and has repeatedly assured investors that the government is working to streamline regulations and reduce bureaucracy to encourage industry growth.
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