The Federal Government has opened high-level engagement with Canada to deepen reforms and unlock fresh foreign direct investment into mining. This is part of Nigeria’s intensified efforts to reposition its solid minerals sector as a major driver of economic growth, investment inflows and export diversification.
Dele Alake, minister of Solid Minerals Development, said Nigeria is ready to leverage Canada’s advanced mining technology, financing capacity and operational expertise to accelerate sector reforms, de-risk investment and entrench global best practices.
Speaking in Abuja while receiving Pasquale Salvaggio, Canada’s high commissioner to Nigeria, Alake said stronger bilateral collaboration would unlock faster growth in the mining industry, expand employment opportunities and enhance Nigeria’s competitiveness as a global minerals destination.
“Canada stood firmly on the side of Nigerians during our pro-democracy struggle. Today, we are committed to strengthening that relationship, particularly in mining and mineral development, where Canada’s global reputation for excellence is well established,” Alake said.
He said Nigeria’s reform agenda is focused on attracting large-scale investments, formalising artisanal mining, building domestic technical capacity, promoting technology transfer and expanding mineral value chains.
Alake said the government is offering robust fiscal and regulatory incentives to create an investor-friendly climate. These include tax waivers on imported mining equipment, full repatriation of profits after statutory obligations, and stable royalty frameworks.
According to him, the measures are designed to lower entry barriers, reduce project risks and accelerate commercial mining operations across Nigeria’s vast mineral belts.
Nigeria is estimated to hold commercially viable deposits of over 40 solid minerals, including gold, lithium, limestone, iron ore, lead, zinc, barytes and rare earth metals. This positions the sector as a key pillar of the Federal Government’s economic diversification drive.
Salvaggio said Nigeria remains Canada’s second-largest trading partner in Africa, noting that mining presents a major opportunity to significantly expand bilateral trade volumes.
He described the establishment of the Nigeria Solid Minerals Company as a strategic intervention capable of strengthening investor confidence, attracting global capital and catalysing sector growth.
“Nigeria could become Canada’s largest trading partner in Africa within the next five to 10 years, given its dynamism, entrepreneurial spirit and commercial outlook,” Salvaggio said. He added that Nigeria currently ranks as the sixth-largest recipient of Canadian development cooperation globally.
He urged Nigeria to revisit the stalled Foreign Investment Promotion and Protection Agreement, saying its ratification would significantly enhance investor confidence, strengthen legal safeguards and guarantee investment security.
Salvaggio also said Canada is prepared to expand capacity-building initiatives, including replicating the 2025 training programme for Nigerian mining professionals at the University of Calgary, Alberta. He said additional technical exchange programmes would deepen expertise in modern mining operations.
In response, Alake said the Federal Government is ready to review and expedite the ratification of the investment protection agreement. He stressed that President Bola Tinubu remains committed to attracting foreign direct investment as a pathway to economic growth, job creation and industrial expansion.
Both countries agreed to establish a joint working group to identify priority areas of cooperation within the mining sector and develop clear timelines to deliver measurable outcomes.
The renewed Nigeria-Canada mining partnership is expected to boost exploration spending, strengthen regulatory compliance, expand local content participation and position Nigeria as a leading destination for sustainable mining investment in Africa.
