In their drive to diversify the economy away from oil, the Nigerian government has turned their attention to the mining industry.
Before the onset of Covid-19, it was, to the surprise of many, reasonably easy to undertake an exploration project in the country. The Federal Government of Nigeria is of the opinion that exploration and junior mining companies would soon discover the country’s enormous geological potential.
Nigeria’s mining industry has been given a clean canvas. The country is an ideal destination for intrepid exploration companies with a large appetite for risk. But a word of warning – the only way to do business in Nigeria is to partner with a local Nigerian who is well connected. Nigeria is a potential regulatory minefield, and without local knowledge, it is almost impossible to negotiate your way around its challenges.
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