The Senate Committee on Solid Minerals has promised investors strong legislative backing to protect returns on their investments in Nigeria’s solid minerals sector.

Acting Chairman of the committee and representative of Nasarawa South, Senator Onawo Mohammed Ogoshi, gave the assurance at the weekend during an interactive session between the panel and a Chinese delegation exploring investment opportunities in the country.

The delegation, representing Zong Hong Kotai Group, had opened discussions for an initial investment of $500 million in three states: Zamfara, Kebbi, and Nasarawa.

Ogoshi noted that Nigeria was eager to diversify its revenue base and assured the delegation that the Senate remained committed to enacting and amending laws for a conducive environment for foreign investors.

“The Nigerian Senate is committed to providing all necessary encouragement to facilitate the injection of such huge capital into our economy,” adding: “Our current laws on solid minerals exploration are robust, and we plan to strengthen them further by amending outdated sections and introducing new provisions to ensure investor protection and ease of doing business.”  He encouraged the delegation to bring in more investors, saying Nigeria was open for business and rich in untapped mineral resources.

Former Kebbi State governor and senator representing Kebbi Central, Adamu Aliero, who is also a member of the committee, commended the Chinese group for its bold initiative.

“You’ve come at a crucial time when Nigeria is actively pursuing economic diversification,” he said, adding: “We have realised that we can no longer rely solely on oil. Solid minerals offer vast potential, and we welcome your interest in the sector.”

Earlier, leader of the Chinese delegation, Chen Twan of Zong Hong Kotai Group, confirmed plans to invest $500 million in the initial phase across Zamfara, Kebbi, and Nasarawa states.  He expressed hope that favourable conditions would lead to further investments in other mineral-rich states.