Nigeria and Japan are advancing plans to deepen cooperation in the mining sector, with the Minister of Solid Minerals Development, Dr. Dele Alake, and officials of the Japan Organisation for Metals and Energy Security pledging to facilitate Japanese investments in Nigeria’s vast mineral resources.

The commitment followed discussions at the Ninth Tokyo International Conference on African Development in Yokohama, where President Bola Tinubu held talks with Japanese Prime Minister Shigeru Ishiba, according to a statement issued on Sunday.

Welcoming Alake and his delegation, JOGMEC President Michio Daito acknowledged Nigeria’s rich mineral endowment but emphasized the need for broader economic data to guide Japanese firms. “We need more information on power generation for industries, tax incentives, labor, duty waivers, free trade zones, and entry and exit conditions,” Daito said, noting that JOGMEC plays a critical role in shaping Japanese companies’ overseas investment decisions.

In his response, Alake highlighted key economic reforms under President Tinubu’s administration—such as fuel subsidy removal and exchange rate unification—which, he said, have improved Nigeria’s investment climate and opened new opportunities in the solid minerals sector.

He stressed Nigeria’s strategic role in Japan’s mineral supply chain and urged JOGMEC to invest in both extraction and local processing before exports, in line with the administration’s policy on value addition.

Alake stated, “The Nigerian workforce is one of the best in the world because of high literacy and educational levels.”

He further noted that the Tinubu administration has launched key infrastructure projects in rail, road, and water transport to bolster industrial growth.

“In terms of economies of scale, producing and processing the critical minerals you need in Nigeria is cheaper and more profitable as the costs of production are lower,” Alake said.

He assured Japanese investors of a supportive business climate, highlighting incentives such as duty waivers on mining equipment and tax holidays.

The minister also introduced the Nigeria Solid Minerals Company, led by its CEO Martins Imonitie, which is structured to take equity stakes in mining projects and foster credible partnerships. Both sides agreed to prioritize technical information exchange and explore direct engagement between JOGMEC and the NSMC, laying the foundation for a long-term strategic partnership.