Nigeria and Japan are edging closer to a landmark collaboration in solid minerals development, as Minister of Solid Minerals Development, Dr. Dele Alake, engaged the Japan Organization for Metals and Energy Security (JOGMEC) in talks aimed at unlocking Japanese investment in Nigeria’s mining sector.
Earlier, Alake addressed a bilateral business forum organized by the Nigerian Embassy in Japan, where he reiterated Nigeria’s readiness to attract and sustain foreign direct investment in the sector.
The high-level talks, held on the sidelines of the 9th Tokyo International Conference for African Development (TICAD9), followed bilateral discussions between President Bola Ahmed Tinubu and Japanese Prime Minister Shigeru Ishiba.
Welcoming Alake’s delegation, JOGMEC President Michio Daito acknowledged Nigeria’s vast mineral potential but underscored the need for detailed information on infrastructure, energy supply, taxation, and the investment climate to guide Japanese firms in assessing risks.
Alake responded by outlining the Tinubu administration’s economic reforms, including fuel subsidy removal and exchange rate unification, which have boosted investor confidence. He highlighted ongoing infrastructure projects in rail, road, and waterways, as well as electricity reforms to support industrial users.
“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,” he said, while assuring Japanese investors of tax incentives, import duty waivers on mining equipment, and investor-friendly policies.
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He also introduced the Nigeria Solid Minerals Company (NSMC), led by CEO Martins Imonitie, emphasizing its role in taking equity stakes in mining ventures to strengthen investor confidence.
The meeting with JOGMEC came after preliminary talks with Japanese trading giants Mitsubishi Corporation, Sumitomo Corporation, and Mitsui & Company, which expressed interest in Nigeria’s mining sector but are awaiting JOGMEC’s assessment. Both sides agreed to prioritize technical exchanges and closer engagement between JOGMEC and NSMC to establish a long-term strategic partnership.
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