The lion’s share of a state-backed solid minerals company, currently in the works, will go to private investors and the public who will be able to own not less than three-quarters of its shareholding.
While the government will hold up to 25 per cent in the so-called Nigerian Solid Minerals Corporation, the public will hold the same proportion of stake, while the rest is planned to be owned by private investors, Minister Dele Alake told a conference arranged by BusinessDay in Abuja on Tuesday.
The idea is to make the entity private-sector-driven as part of the strategies to make it appealing to the big multinationals the government is targeting as investors to get the largely comatose mining sector off the ground.
