BusinessDay 13 Dec 2018

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Investors eye Nigeria solid minerals fortune in new mining rush J F

Homebuyers, renters vote with feet, relocate to affordable locations

ODINAKA ANUDU

oreign and local investors are acquiring new mining sites in Nigeria to tap from a cash-spinning sector that has remained largely underutilised and under the radar

Kian Smith breaks ground for first Gold Refinery

since the crude oil boom. “Investments, mainly from foreign companies, are taking place in the sector right now. The reason is that the mining

environment is getting more attention from the government and better too,” Shehu Sani, president of Miners Association of Nigeria (MAN), told Business-

Day in a telephone interview. Symbol Mining, an Australian publicly listed company, recent-

Continues on page 38

... as worsening economic conditions hurt gated estate landlords, investors

CHUKA UROKO & STELLA ENENCHE, Abuja ob losses, shrinking personal/household income and cost-push inflation, which are reflections of the bad state of the Nigerian economy, have made it difficult and impossible, in some cases, for people to buy or rent houses and even pay house rents for those who already have accommodation. In effect, there have been a lot of movements, notably in the last three years when the economy took a drastic turn for the worse, leaving landlords and those who have invested in build-to-rent houses in dire straits. Continues on page 38

Inside Atiku signs Peace Accord, says credible polls doubtful without new Electoral Act P. 4

L-R: Funmi Ekundayo, MD/CEO, STL Trustees Limited; Isiaka Adegboyega Oyetola, Osun State governor, and Akin Oni, head of trust services and legal, STL Trustees Limited, during an official call on Isiaka Adegboyega Oyetola in Oshogbo, the state capital.

INVESTIGATION: Nigeria bleeds as NNPC’s under-recovery claims grew 600% in six months P. 24


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