Group welcomes $2.6bn mining investment, credits Tinubu’s policies for sector revival

The Tinubu Stakeholders Forum (TSF), a policy advocacy group supporting the initiatives of President Bola Tinubu, has welcomed reports that Nigeria has attracted over $2.6 billion in foreign direct investment (FDI) into the mining sector over the past two years, crediting the inflow to the policies and reforms of the president.

In a statement signed by its Chairman, Ahmad Sajoh, and Secretary, Danjuma Sada, the group described the development as a major vote of confidence in the administration’s reform agenda.

TSF said the investment demonstrates that disciplined reforms, policy clarity, and firm leadership can unlock sectors that had long been neglected. It highlighted improvements in governance, digitisation of licensing processes, and a crackdown on illegal mining as key drivers of investor confidence.

According to the forum, these reforms are restoring credibility to the sector by improving transparency in mineral title administration, revoking dormant licences, and tackling illegal activities, sending a strong signal to serious investors.

The group added that the policy measures are already attracting companies to establish processing and value-addition projects within Nigeria, marking a shift from exporting raw minerals to building domestic industrial capacity.

TSF noted that the development would enhance job creation, technology transfer, and domestic production, while also reducing the country’s overdependence on oil and gas through expanded growth in solid minerals and manufacturing.

The forum affirmed that the mining reforms are significant beyond the sector itself, linking investment in minerals to broader industrial growth and economic diversification.

It urged the Federal Government to sustain the momentum by strengthening enforcement, expanding geological data, engaging host communities, and ensuring that the sector’s benefits are widely shared across Nigeria.