Nigeria is moving closer to securing Japanese investment in its solid minerals sector as both countries align strategies to tap into the nation's vast mineral resources.
The Ministry of Solid Minerals Development confirmed the progress after Minister Dr. Dele Alake met with officials of the Japan Organization for Metals and Energy Security (JOGMEC) on the sidelines of the 9th Tokyo International Conference for African Trade and Development (TICAD 9) in Yokohama.
President of JOGMEC, Michio Daito, acknowledged Nigeria's rich mineral reserves but called for clearer assurances on economic conditions, including power supply, infrastructure, tax incentives, and free trade zones, before Japanese firms commit to large-scale projects.
In response, Dr. Alake assured Japanese investors that President Bola Tinubu's reforms — subsidy removal, exchange rate stabilisation, and major rail, road, and waterway upgrades — have created a more enabling business environment. He further noted that Nigeria's electricity sector reforms now allow industries to generate and manage their own power, significantly lowering production risks.
The Minister added that Japanese firms would enjoy tax holidays, duty waivers on equipment, and opportunities to invest in local mineral processing, in line with Nigeria's value-addition policy.
The talks also featured the Nigeria Solid Minerals Company (NSMC), which will act as an equity partner in mining ventures to boost investor confidence. NSMC's CEO, Martins Imonitie, reaffirmed the company's readiness to serve as a bridge between local SMEs, government, and foreign investors.
Alake urged Japanese companies to look beyond extraction and tap into opportunities for downstream processing, logistics, equipment supply, and SME-led services in mining communities.
With prior interest already shown by Japanese trading giants Mitsubishi, Sumitomo, and Mitsui, final commitments are expected once JOGMEC concludes its due diligence. Both sides agreed to foster technical exchanges and direct collaboration between JOGMEC and NSMC to fast-track concrete investments.
The partnership is projected to open new opportunities for SMEs across the mining value chain — from supply and logistics to processing and services — positioning Nigeria as a critical global hub for minerals and metals.
