Investment in Nigeria’s solid minerals should go beyond just extraction – Olaf Scholz

German Chancellor Olaf Scholz has said that investment in Nigeria’s solid mineral sector should go beyond just extraction and involve value addition in the country of origin of the minerals. 

Chancellor Scholz stated this during a joint press briefing with President Bola Tinubu after an extensive meeting with Nigeria’s President and his team.  

Nigeria is seeking to boost the contribution of the mining industry to GDP which lags at around 1%.

The current minister of solid minerals has hinted at establishing a solid mineral corporation and ensuring that foreign investors provide proof of processing solid minerals as part of the requirements to get a license. 

Design a win-win situation for migration 

On migration, Germany proposed a collaborative management approach to address migration challenges aimed at a win-win situation for both Germany and Nigeria.

He said there is a need for those with the right talent to come and work in Germany. 

Scholz noted that there is a willingness of German companies to invest in Nigerian infrastructure projects, particularly in the railway sector. 

Addressing the Government-to-Business Roundtable, President Tinubu assured the attendees that his administration is well-versed in the attributes of an ideal business environment.

This understanding has driven the series of reforms and policy adjustments the nation has witnessed in recent times.