By David Akinadewo-Adekahunsi
Nigeria’s Minister of Solid Minerals Development, Dele Alake, has canvassed stronger bilateral cooperation with Canada to accelerate reforms in the mining sector, attract foreign investment and embed global best practices in the industry.
Alake made the call on Thursday while receiving the Canadian High Commissioner to Nigeria, H.E. Pasquale Salvaggio, at his office, stressing that Nigeria is ready to leverage Canada’s advanced mining technology and technical expertise to reposition the sector as a key driver of economic diversification.
Reflecting on historical ties, the minister recalled Canada’s support for Nigeria during the pro-democracy struggle that followed the annulment of the June 12, 1993 presidential election.
He noted that Canada’s principled stance contributed to international backing that culminated in Nigeria’s return to civil rule in 1999.
“Canada stood firmly on the side of the Nigerian people 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 reaffirmed Nigeria’s commitment to partnering with Canada to de-risk the mining environment, formalise and regulate artisanal mining, enhance professional capacity, promote technology transfer and attract foreign direct investment.
Highlighting incentives available to investors, the minister cited tax waivers on imported mining equipment, full repatriation of profits after statutory obligations, and other fiscal measures designed to create an investor-friendly climate.
In his remarks, High Commissioner Salvaggio thanked Nigeria for acknowledging Canada’s historic role in its democratic journey and commended ongoing reforms in the mining sector.
He described Nigeria as Canada’s second-largest trading partner in Africa and identified mining as a strategic area for expanded bilateral trade.
He also praised the establishment of the Nigeria Solid Minerals Company (NSMC), describing it as a strategic initiative capable of boosting investor confidence and catalysing growth in the sector.
Salvaggio expressed optimism that Nigeria could become Canada’s largest trading partner in Africa within the next five to ten years, citing the country’s entrepreneurial dynamism and commercial outlook.
He disclosed that Nigeria is currently the sixth-largest recipient of Canadian development cooperation globally, underscoring the depth of bilateral relations.
The envoy urged the Federal Government to revisit and ratify the stalled Foreign Investment Promotion and Protection Agreement (FIPA), noting that its conclusion would significantly strengthen investor confidence and guarantee investment security.
He also conveyed Canada’s readiness to expand capacity-building initiatives, including replicating the 2025 training programme for Nigerian mining professionals at the University of Calgary in Alberta, alongside additional technical exchange programmes.
Responding, Alake said although the FIPA predates the current administration, the Federal Government is prepared to review and expedite its ratification.
He reiterated the commitment of President Bola Ahmed Tinubu to attracting increased foreign direct investment as a pathway to economic growth and job creation.
Both countries agreed to establish a joint working group to identify priority areas of cooperation in the mining sector and develop actionable timelines to ensure tangible outcomes from the renewed engagement.
