The Minister of Solid Minerals Development, Dele Alake, has urged the United States and African nations to prioritize the establishment of regional energy hubs as a strategy to accelerate mining industrialization and strengthen supply chains for critical minerals.
Alake made the call while speaking at a high-level panel on “Critical Minerals in Africa: Meeting Global Demand” at the Powering Africa Summit in Washington, D.C. He emphasized that sustainable partnerships with Africa are key to meeting the rising global demand for minerals essential to the energy transition.
He proposed the development of regional industrial corridors similar to the Lobito Corridor, citing the Lagos–Abidjan corridor and the Walvis Bay Corridor as examples that could unlock mineral potential across multiple countries. According to him, such corridors would stimulate infrastructure development, improve energy access, and enhance regional integration.
The minister noted that shared energy systems could power multiple countries within a corridor, enabling local processing, manufacturing, and cross-border industrialization.
Highlighting ongoing reforms under President Bola Ahmed Tinubu, Alake said improved governance, strengthened regulatory frameworks, and digitized licensing processes have repositioned Nigeria’s mining sector as a viable destination for investment. He added that reforms now ensure secure tenure for mineral title holders, providing stability for long-term investment.
He also disclosed that the government is expanding the generation of internationally certified geological data to support investors.
On security, Alake acknowledged challenges but said progress has been made through the deployment of mining marshals. He revealed that over 350 suspected illegal miners have been arrested within a year, with more than 150 currently facing prosecution.
Reaffirming Nigeria’s openness to investors, the minister highlighted incentives such as tax waivers on imported mining equipment and full repatriation of profits after due payments.
He stated that over $2.6 billion in foreign direct investment has been attracted into the sector in the past two and a half years.
Also speaking, a senior official of the U.S. Export-Import Bank noted that successful mining investments depend on strong collaboration, government commitment, and sustainable agreements beyond political cycles, adding that financial institutions are ready to support viable projects while helping to unlock private sector capital.
