Nigeria, Japan agree to strengthen mining collaboration at 9th edition of TICAD
Nigeria and Japan have pledged to strengthen cooperation in the mining sector, with plans to encourage Japanese companies to invest in Nigeria’s rich mineral resources.
The commitment followed discussions between Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, and officials of the Japan Organization for Metals and Energy Security (JOGMEC) on Thursday in Yokohama, during the 9th Tokyo International Conference on African Trade and Development (TICAD). The talks came shortly after President Bola Tinubu’s meeting with his Japanese counterpart, Shigeru Ishiba.
JOGMEC President Michio Daito welcomed the Nigerian delegation, noting that while Nigeria’s mineral resources are well known, Japanese investors require more information on the overall economy to assess risks. He raised concerns including power supply, tax incentives, labour, duty waivers, free trade zones, and logistics.
Dr. Alake responded by highlighting reforms under President Tinubu, including the removal of the petroleum subsidy and a stable exchange rate, which have improved the investment climate. He also stressed Nigeria’s potential to supply processed minerals critical to Japan’s industrial and electric technology sectors.
The minister encouraged JOGMEC to invest in mineral extraction and processing in Nigeria before exports, in line with the government’s local value addition policy. He assured investors of Nigeria’s skilled workforce and ongoing infrastructure projects in rail, road, and water transport to support industries.
Addressing electricity and taxation, Dr. Alake said laws now allow industries to manage their energy needs, with dedicated supply for industrial sectors, while Japanese companies would benefit from import duty waivers on mining machinery and tax holidays.
Dr. Alake also introduced the Nigeria Solid Minerals Company (NSMC), represented by CEO Martins Imonitie, to take equity stakes in mining projects. Earlier engagements with major Japanese trading houses, including Mitsubishi, Sumitomo, and Mitsui, showed strong interest in expanding in Nigeria, pending JOGMEC approval.
The meeting concluded with both parties agreeing to prioritize technical information exchange and direct collaboration, creating a framework for long-term strategic partnership in Nigeria’s mining sector. Dr. Alake also addressed a bilateral conference organized by the Nigerian Embassy, highlighting the sector’s readiness for foreign investment.
