According to President Bola Tinubu, the government will no longer put up with “criminal adventurers and their local collaborators” who take advantage of Nigeria’s socioeconomic conditions to undermine the country.
Speaking at the opening ceremony of the second Africa Natural Resource and Energy Investment Summit in Abuja on Tuesday, Tinubu issued the warning.
The Nigerian government’s secretary, George Akume, spoke on behalf of the president, who declared that the nation welcomes companies looking to develop its resources with sincere partners.
According to him, in order to accomplish the sustainable development goals of eradicating hunger, illness, and poverty, Nigeria is prepared to “walk the talk of renewed hope” alongside supporters of human progress.
“Dear investors, we are determined to create the conducive conditions for genuine businessmen. We welcome you and shall do everything possible to assist law-abiding businesses to operate in our country,” Tinubu said.
“However, we shall no longer tolerate criminal adventurers and their local collaborators who exploit our socio-economic environment to sabotage our nation, in the guise of bringing business. Those caught will face the full wrath of our laws.”
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According to Tinubu, by creating jobs “for our people, improving the revenue accruable to the government, and establishing an industrial sector that is the envy of the world,” the current administration would rouse the sleeping giant, the solid minerals industry, to play its key role in the economy.
Nigerians overcame all barriers to succeed in the petroleum industry. Our main revenue source shifted to petroleum. We’ve learned valuable lessons, so we’ll do it again with the solid minerals sector—wiser and better, Tinubu declared.
Nonetheless, the president admitted that investors are overwhelmed by the industry’s issues.
Tinubu claims that the irresponsible and unlawful mining of areas with abundant resources “cheats our country of vast revenue.”
The lawmaker went on to say that there is a national emergency because of the threat posed by bandits abusing the mines and mistreating people in order to obtain funds for insurgency.
“The industry is deprived of vital funds due to the absence of comprehensive and certified data to guide investment financing; the accusations of unscrupulous practices in the licencing process undermine our commitment to transparency,” he stated.
Tinubu acknowledged that his administration is aware of the difficulties facing the industry.
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