Vice President Kashim Shettima has declared that reforms implemented by the Tinubu administration in the mining sector have begun yielding measurable results, with over $2.6 billion in foreign direct investment flowing into the sector over the past two and a half years as Nigeria moved to transform its mineral resources from raw exports into domestically processed and value-added industrial outputs.
Shettima made the declaration at the official inauguration of the Kursi Group corporate headquarters in Abuja, describing the mining reforms as having fundamentally changed the terms on which Nigeria engaged with global investors in its extractive sector.
He said local value addition had been made a non-negotiable condition of licensing, signaling that Nigeria was no longer willing to function as a repository for unprocessed raw materials.
He described enterprises that processed Nigerian lithium for the global green energy transition and refined Nigerian gold to international standards within the country as concrete embodiments of the industrial ambition the administration was pursuing. “Every nation that rises does so by mastering the value chain of its natural advantage. Every nation that commands respect in the world economy learns to convert resources into products, products into industries, and industries into national power,” he said.
Following the inauguration, the Vice President toured the Kursi Group facility, which houses a refining factory and a minerals marketing and tracking platform described as a state-of-the-art system for managing the commercial dimensions of the group’s mining operations.
