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Tinubu declares Energy Investment Summit open, says Nigeria is open for business

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By Victoria Onehi

President Bola Tinubu has declared open the  second edition of the Africa Natural Resource and Energy investment summit,holding in Abuja, assuring investors that Nigeria is open for business.

The President who was represented by the Secretary of the Government to the Federation,Dr George Akume says today is a new beginning for the people of  Nigeria, and her friends  all over the world .

The President noted in his speech that many participants traveled from far regions  to attend the forum because they believe in the huge potentials of Nigeria and  the friendship of our people. 

He said: ” Nigeria is open for business. we are willing to develop our God-given  resources with genuine partners who share the vision of  equitable distribution of wealth  produced in our country with our people. 

“Our administration shall wake up the sleeping giant that the solid minerals sector is today,  to play its strategic role in the economy,  by providing jobs for our people, improving the revenue acruable to the government,  and establishing an industrial sector that is the envy of the world. “he said.

The President who noted that the challenges of the sector are enough to overwhelm investors however assured investors  that the difficulties to ease of doing business in the sector are being tackled by the administrations new sheriff, the Minister of Solid Minerals Development,Dr Oladele Alake. 

“Recently, to demonstrate our full support for the way he has carried out his assignment, the federal executive council adopted the seven-point agenda presented to council as the policies of our administration to clean up and position the sector for healthy business practices and navigate the  international mining industry.

“Our policies for charting the new direction includes a new national solid minerals company, investment in big data, the formalisation of artisanal miners into co-operatives, the improvement in security architecture, effective co-ordination of inter-ministerial and inter-govermental relations to resolve operational challenges and greater transparency in the licencing process. These are  the deliverables the ministry has been mandated to achieve. we shall do everything to support the ministry to realise our objectives.” Tinubu said.

The Minister of Solid Minerals Development,Dr Dele Alake in his speech said Africa, as a continent rich in natural resources, stands at a pivotal juncture in its development journey. 

“As we gather here in Nigeria, a nation endowed with abundant mineral resources and a rapidly evolving energy sector, it is indeed expedient that we reflect on the theme of “Towards a Just Transition.” This theme encapsulates the global imperative of transitioning towards sustainable and equitable practices in harnessing our natural resources and developing our energy systems. In doing so, we aim to ensure that the benefits of our resource wealth are distributed fairly among our people and that we are responsible stewards to make the best use of natural resources and to ensure the acquittal of sustainable environment for the upcoming generations.

” At the heart of this summit, we find the idea of a “Just Transition.” This concept calls for us to ensure that as we shift towards more sustainable practices in natural resource development and energy production, no one is left behind. The just transition is about recognizing the needs of our workforce, communities, and economies that have long depended on traditional energy sources to establish and consolidate the forces of fostering inclusivity, providing alternatives, and equitably distributing the benefits of this transformation.”Alake said 

The Minister of Steel Development , Prince Shaiubu Abubakar Audu in his speech said the government is committed to a sustainable future that demand’s innovation and transformation in steel production, ensuring that Nigerias” advancements align with global environmental standards. 

” It is based on this that a roadmap is being developed for the revitalization of the steel sector in Nigeria – with considerable attention to issues of insurance for government owned steel plants, beneficial incentives for investors that are willing to put money in the sector, and designating the 24, 000 – hectare land in Ajaokuta as an Industrial Park. The commitment to developing the steel sector remains unwavering, with a focus on job creation, attracting investments, and contributing significantly to Nigeria’s Gross Domestic Product.” Audu said.

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