FG Assures Mining Investors of Protection Under Cape Town Convention

The Federal Government has assured foreign investors in Nigeria’s solid minerals sector of adequate protection for their investments, drawing on the country’s status as a signatory to the Cape Town Convention on International Interests in Mobile Equipment.
The Minister of Solid Minerals Development, Dr.

Dele Alake, said the development would enhance investor confidence and improve access to project financing within the mining industry.
Dr. Alake gave the assurance while signing an Engineering, Procurement and Construction Management Memorandum of Understanding with private firms on the sidelines of the Investing in African Mining Indaba in Cape Town.
According to the Minister, Nigeria’s participation in the Convention provides a strong assurance framework for international lenders, leasing companies, equipment financiers, and technical service providers.
He noted that the treaty sets global standards for registering sales contracts, security interests, and leases, while also offering legal remedies such as repossession and clarity in bankruptcy situations—critical safeguards for mining equipment and other mobile assets operating in the country.
Dr. Alake further reaffirmed that the solid minerals sector remains a key pillar in the Federal Government’s economic diversification agenda, adding that the project’s scalable polymetallic processing strategy will support phased expansion from early-stage activities to full-scale industrial operations.