FG Raises Alarm Over Alleged Plot to Discredit Nigeria During Tinubu’s UK Visit
- Mar 16
- 2 min read
The Federal Government has accused a foreign-linked mining firm of planning a campaign to undermine Nigeria’s reputation ahead of President Bola Tinubu’s scheduled state visit to the United Kingdom.
Officials from the Ministry of Solid Minerals Development said intelligence reports indicated that the company, identified as Jupiter Ltd, was preparing to spread claims intended to tarnish Nigeria’s image and question recent reforms in the country’s mining industry.
According to the ministry, the dispute stems from the revocation of mineral licences previously held by Basin Mining Ltd, a Nigerian company allegedly linked to Australian businessman Steve Davis. Authorities said the licences were withdrawn after the company failed to meet statutory financial obligations required under Nigeria’s mining regulations.
Government officials explained that Basin Mining Ltd accumulated unpaid annual service charges amounting to about ₦2.49bn covering the 2024 and 2025 fiscal years. After several notices were reportedly issued without compliance, the licences were cancelled in accordance with existing laws governing the sector.
The ministry rejected claims circulating in foreign media suggesting that Nigeria had seized a lithium project belonging to a British firm. Officials described the allegations as false and misleading, stressing that foreign entities are not permitted to directly hold mining titles under Nigerian law.
Authorities further alleged that the businessman connected to the company maintained interests in multiple mining firms operating in Nigeria, which they claim were used to acquire mineral titles without undertaking substantial mining operations.
Government representatives said such practices had contributed to a backlog of dormant licences in the country’s mining sector, slowing down development and encouraging illegal extraction activities.
The ministry insisted that recent regulatory reforms are designed to address these issues and ensure that only investors willing to comply with Nigeria’s laws and operational requirements retain mining rights.
Officials also emphasised that the country remains open to genuine investors and has introduced incentives such as tax waivers on mining equipment imports and policies that allow the full repatriation of profits.
President Tinubu is expected to undertake a state visit to the United Kingdom from March 18 to 19, following an invitation from King Charles III. The visit is expected to focus on strengthening economic cooperation, trade, and diplomatic relations between both countries.
Comments