Nigeria and Japan are moving closer to forging a strategic partnership in the mining sector, with officials from both countries pledging to expand cooperation and attract Japanese investments into Nigeria’s vast solid minerals industry.
At the Ninth Tokyo International Conference on African Development (TICAD9) in Yokohama, Japan, Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, met with top executives of the Japan Organisation for Metals and Energy Security (JOGMEC). The talks followed discussions between President Bola Tinubu and Japanese Prime Minister Shigeru Ishiba, underscoring the administration’s push to diversify Nigeria’s economy and strengthen foreign partnerships.
JOGMEC President Michio Daito welcomed Alake’s delegation but stressed the need for broader economic details before Japanese companies can commit.
“We need more information on power generation for industries, tax incentives, labor, duty waivers, free trade zones, and entry and exit conditions,” Daito said, adding that Japanese firms rely on JOGMEC’s guidance before investing abroad.
Responding, Alake highlighted Nigeria’s ongoing economic reforms under President Tinubu, including the removal of fuel subsidies and unification of exchange rates, measures he said have created a more investment-friendly environment. He urged JOGMEC to consider Nigeria as a key partner in its mineral supply chain.
“Nigeria should be the place to invest in the extraction and processing of your mineral needs before exports to Japan, in line with our policy on local value addition,” Alake said.
Nigeria pitches its competitive edge
Alake stressed Nigeria’s strong workforce and the government’s commitment to infrastructure expansion in rail, road, and water transport to support mining operations. He noted that producing and processing critical minerals locally would be cheaper and more profitable for Japanese firms.
The minister also unveiled the Nigeria Solid Minerals Company (NSMC), led by CEO Martins Imonitie, which is structured to take equity stakes in mining projects and guarantee credible partnerships. Both sides agreed to exchange technical information and explore direct collaboration between JOGMEC and NSMC, paving the way for a long-term strategic partnership.
Alake also held meetings with major Japanese trading houses—Mitsubishi Corporation, Sumitomo Corporation, and Mitsui & Company—which signaled interest in Nigeria’s mining sector but indicated they would await JOGMEC’s assessment before making firm commitments.
Why it matters
Nigeria is seeking to position its mining sector as a cornerstone of economic diversification beyond oil, while Japan is eager to secure stable supplies of critical minerals for its manufacturing and technology industries. A successful partnership could unlock new revenue streams for Nigeria and deepen its role in global mineral supply chains.
