KEY POINTS
- Nigeria, Japan deepen mining ties.
- JOGMEC explores Nigerian mineral opportunities.
- Tinubu reforms ease mining investment conditions.
Nigeria and Japan made a huge stride forward in working together on mining during the 9th Tokyo International Conference for African Development. Minister of Solid Minerals Dele Alake met with important people from the Japan Organization for Metals and Energy Security (JOGMEC).
Alake further said that Nigeria can be an important source of processed minerals for Japan. He talked about initiatives that are supposed to boost local value creation and make investors feel more secure.
Nigeria and Japan deepen their ties in mining at TICAD9
Michio Daito, the head of JOGMEC, welcomed the group but stated that Japanese companies needed more information on Nigeria’s economy before they could invest. He said, “Japanese mining companies depend on JOGMEC to decide where to invest abroad,” and requested for information on how well the rules and infrastructure were working.
Alake said that President Bola Tinubu’s government would modify how power is made, as well as taxes and charges. He claimed that manufacturing and processing critical minerals in Japan would save Japanese buyers money and lower prices.
NSMC will aid with mining projects that involve more than one company
Alake started the Nigeria Solid Minerals Company (NSMC), whose CEO is Martins Imonitie, to help people feel more secure. The business, which is supported by the state, is supposed to take part in private mining projects and give foreign investors an opportunity to share the risks.
Both sides agreed to prioritize sharing technical information and look into how JOGMEC and the NSMC may talk to each other directly. This will assist develop a long-term partnership.
Nigeria and Japan improve their mining ties with trading corporations
On the side, Alake also talked to the big Japanese trade companies Mitsubishi, Sumitomo, and Mitsui. Officials further said that the meetings made individuals more interested in mining in Nigeria.
Kehinde Bamigbetan, the minister’s special adviser, said that the negotiations would “open up new opportunities for investment and growth in Nigeria’s solid minerals sector.”
After President Bola Tinubu met with Japanese Prime Minister Shigeru Ishiba to talk about business between their two countries, the negotiations took place. Mining is a big aspect of the business ties between Nigeria and Japan.
