The Minister of Solid Minerals Development, Dele Alake, has assured foreign investors that the Federal Government will leverage Nigeria’s status as a signatory to the Cape Town Convention on International Interests in Mobile Equipment to safeguard investments in the solid minerals sector.
Alake gave the assurance at the signing of an Engineering, Procurement and Construction Management (EPCM) Memorandum of Understanding between Dukia Gold & Precious Metals Refining Company Limited and SGS Bateman, on the sidelines of the Investing in African Mining Indaba in Cape Town, South Africa.
He explained that Nigeria’s participation in the Convention provides strong legal protection for international lenders, leasing firms, and equipment financiers, ensuring that mining assets deployed into the country enjoy internationally recognised safeguards.
According to the Minister, the treaty standardises transactions involving movable property, establishes global registration systems for security interests and leases, and provides clear remedies in cases of default, including repossession and bankruptcy protection.
Describing the Dukia partnership as a milestone, Alake said the mining sector remains central to Nigeria’s economic diversification drive, noting that the project is designed for scalable polymetallic processing and phased industrial growth.
Chairman of Dukia Gold, Mr. Tunde Fagbemi, said the MoU marks the beginning of a structured EPCM partnership to advance the Dukia–Arinola Project toward feasibility and long-term mineral beneficiation.