Nigeria, Japan explore mining cooperation, investment opportunities at TICAD9

YOKOHAMA, JAPAN — Nigeria and Japan have opened talks on deepening cooperation in the mining sector, with both sides pledging to develop frameworks that will encourage Japanese companies to invest in Nigeria’s vast solid mineral resources.

The discussions, according to a statement signed by Kehinde Bamigbetan, Special Adviser to the Honourable Minister, held on Thursday on the sidelines of the 9th Tokyo International Conference on African Development (TICAD9), brought together Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, and the leadership of the Japan Organization for Metals and Energy Security (JOGMEC). The meeting followed President Bola Tinubu’s bilateral talks with Japanese Prime Minister Shigeru Ishiba.

Welcoming the Nigerian delegation, JOGMEC President, Mr. Michio Daito, acknowledged Nigeria’s rich mineral endowments but stressed the need for more clarity on the overall business environment. He cited concerns around power generation, tax incentives, labour, duty waivers, trade zones, and industrial infrastructure as key factors Japanese companies assess before committing investments abroad.

In response, Dr. Alake highlighted reforms introduced by the Tinubu administration, including subsidy removal and exchange rate unification, which he said have improved investor confidence. He assured that the government is prioritizing infrastructure upgrades across road, rail, and water transport, while new electricity laws now allow industries to generate and manage their own power.

The minister underscored Nigeria’s policy of local value addition, urging Japanese companies to invest not only in mineral extraction but also in processing, in order to supply Japan’s advanced manufacturing sector with semi-processed and refined minerals. He also assured potential investors of tax holidays and import duty waivers on mining equipment.

To strengthen investor confidence, Dr. Alake introduced the Nigeria Solid Minerals Company (NSMC), represented by CEO Martins Imonitie, which will serve as a strategic partner by taking equity stakes in mining projects.

The talks with JOGMEC built on earlier engagements with leading Japanese trading houses, including Mitsubishi Corporation, Sumitomo Corporation, and Mitsui & Company, which expressed interest in Nigeria’s mining sector, subject to JOGMEC’s guidance.

Both Nigeria and JOGMEC agreed to exchange technical information and deepen direct engagement with NSMC to advance a long-term strategic partnership.

Earlier in the week, Dr. Alake also addressed a bilateral investment conference organized by the Nigerian Embassy in Tokyo, where he reaffirmed Nigeria’s readiness to attract Japanese investors to its solid minerals sector.

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