Tinubu appoints Martins Imonitie as CEO of Nigerian Mining Corporation

Kunle Sanni

President Bola Tinubu has appointed Martins Imonitie as the Chief Executive Officer (CEO) of the Nigerian Mining Corporation, tasking him with revitalizing the sector.

The Minister of Solid Minerals Development, Dele Alake, announced the appointment on Monday while addressing State House correspondents after the Federal Executive Council (FEC) meeting presided over by the president.

Alake highlighted Imonitie’s extensive experience in the global mining industry, particularly in Western Australia, one of the world’s largest mining hubs.

“We headhunted him from Western Australia, where he worked with major global players. He has the expertise to drive this new initiative,” Alake stated.

Discussing the corporation’s structure, Alake emphasized that its equity framework is designed to prevent political interference in its operations. He explained that ownership will be divided as follows: 50 percent will be controlled by the private sector, 25 percent by the federal government, and the remaining 25 percent will be available to Nigerian citizens.

“It is structured in such a way that no future government can interfere or inject political manipulation into its operations,” he added.

Alake further clarified that the government has no plans to establish a Solid Minerals Development Bank. He urged private sector players to take the initiative in creating a specialized financial institution to support mining operations.

“I never announced that the government would establish a Solid Minerals Development Bank. I challenged the private sector because once you allow the government to set it up, you invite political interference,” he said.