Nigeria and Japan are edging towards a new era of partnership in solid minerals development, following high-level talks between the Minister of Solid Minerals Development, Mr Dele Alake, and the Japan Organization for Metals and Energy Security (JOGMEC).
The meeting, held on the sidelines of the 9th Tokyo International Conference for African Development (TICAD9), came shortly after President Bola Ahmed Tinubu’s bilateral discussions with Japanese Prime Minister Shigeru Ishiba.
Welcoming the Nigerian delegation, JOGMEC President Michio Daito acknowledged Nigeria’s vast mineral resources but requested detailed information on infrastructure, energy, taxation, and the general investment climate to guide Japanese firms in assessing risks.
In response, Mr Alake highlighted reforms by the Tinubu administration, including subsidy removal and exchange rate unification, which he said had improved Nigeria’s investment profile.
He pointed to major infrastructure projects in rail, roads, and waterways, alongside power sector reforms to guarantee stable electricity for industrial use.
“Nigeria offers economies of scale. Producing and processing the critical minerals you need in Nigeria is cheaper and more profitable as production costs are lower,” Alake assured, adding that tax incentives and duty waivers for mining equipment further ease entry for investors.
He also introduced the Nigeria Solid Minerals Company (NSMC), represented by its CEO Martins Imonitie, as a government-backed firm ready to take equity in mining ventures to boost investor confidence.
The talks with JOGMEC followed earlier engagements with Japanese trading giants Mitsubishi Corporation, Sumitomo Corporation, and Mitsui & Company, all of whom expressed interest in Nigeria’s mining sector but await JOGMEC’s endorsement.
Both sides agreed to pursue technical exchanges and deepen direct engagement between JOGMEC and the NSMC to lay the groundwork for a long-term strategic partnership.
Earlier, at a bilateral business forum organised by the Nigerian Embassy in Japan, Mr Alake reiterated Nigeria’s readiness to attract and sustain foreign direct investment in solid minerals.
