Nigeria and Japan have opened talks to boost Japanese investment in Nigeria’s solid minerals sector, with both countries agreeing to explore a strategic mining alliance.
The discussions took place on the sidelines of the 9th Tokyo International Conference on African Development (TICAD) in Yokohama, where Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, met with officials of the Japan Organisation for Metals and Energy Security (JOGMEC).
In a statement by Kehinde Bamigbetan, Special Adviser to the Minister, it was disclosed that the engagement followed bilateral talks between President Bola Tinubu and Japanese Prime Minister Shigeru Ishiba, underscoring the role of mineral development in strengthening Africa–Asia trade cooperation.
Welcoming the Nigerian delegation, JOGMEC President Michio Daito acknowledged Nigeria’s vast mineral endowment but sought clarity on investment conditions, including energy supply, tax incentives, trade zones, and regulatory guarantees.
Responding, Dr. Alake assured Japanese stakeholders of Nigeria’s readiness, citing the Tinubu administration’s economic reforms, pro-investment policies, and focus on local mineral processing to support global energy transition needs.
“Nigeria stands ready to supply Japan with value-added minerals, not just raw exports,” Alake said, while highlighting reforms that allow industries to generate their own power, access tax holidays, and enjoy import duty waivers.
He also introduced the Nigeria Solid Minerals Company (NSMC) as a government-backed investment vehicle to partner with foreign investors in mining projects.
The dialogue with JOGMEC came after preliminary meetings with Japanese conglomerates including Mitsubishi Corporation, Sumitomo Corporation, and Mitsui & Co., all of which signaled interest in Nigeria’s mining opportunities pending JOGMEC’s endorsement.
Both parties agreed to prioritise technical cooperation and initiate direct engagement between JOGMEC and NSMC to fast-track investment plans.
Earlier, Dr. Alake addressed a Nigeria–Japan business forum hosted by the Nigerian Embassy in Tokyo, where he reaffirmed Nigeria’s determination to attract and safeguard foreign direct investment in the solid minerals sector.
