Indonesia to Invest in Nigeria’s Mining Industry
An Indonesian government owned Mining Corporation P. T. Timah is set to invest billions of dollars in the Nigerian solid minerals and mining sector to boost production and increase non-oil revenue earnings in line with the present administration resolve to diversify the Nation’s economy.
Performing the signing of the Joint Venture agreement JVC and a Memorandum of Understanding MOU, the Indonesian Ambassador to Nigeria Mr. Harry Purwanto said his home government through the largest mining firm is ready to make massive investment in Nigeria after a careful study of the great potentials in the solid mineral and mining sub sector of the economy.
He declared that the Indonesian government is investing in Nigeria for the first time, according to him, there are concrete plans by its government to expand its investments profile into the oil and gas through the establishment of refineries and as well the health sector through the setting up of pharmaceuticals manufacturing companies.
“I know Nigeria has great potentials, let us use our excellent relationship to support each other in strategic areas of competence especially now that World economies are focusing on high capacity development towards year 2020”.
Signing on behalf of the Nigerian partners in the sector, Senator Annie Okonkwo who is the chairman of Topwide ventures an indigenous solid minerals and mining company express the company’s preparedness to meet its own side of the obligations in the partnership agreements to fast track the eventual commencement of the project.