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Nigeria to grant mining licenses to local companies only as the African country increasingly seeks to extract more value from its mineral deposits (integritynewsng.com)

submitted 6 months ago* (last edited 6 months ago) by [email protected] to c/[email protected]

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In order to attract investment, Nigeria will offer a range of incentives to investors, including tax waivers for importing mining equipment. Enhanced security measures will also be implemented to ensure the safety of mining operations.

However, the granting of mining licenses will be contingent upon companies presenting a detailed plan outlining how they intend to process minerals locally.

This requirement reflects the government’s commitment to creating jobs and benefiting local communities through value addition activities.

[Edit typo.]

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[–] [email protected] 3 points 6 months ago

Tanzania tried this sometime back. Foreign billionaires made local millionaires partners. All check boxes were ticked. Still a good idea.