Nigeria, Japan seal deals to boost mining investment

The Minister of Solid Minerals Development, Dr. Dele Alake, has said any company that invests in Nigeria’s solid mineral sector will record good returns on its investment.

The minister described the nation’s mining sectors as highly profitable.

Alake said this in an audience with officials of the Japan Organisation for Metals and Energy Security (JOGMEC) on the sidelines of the ninth Tokyo International Conference for African Trade and Development (TICAD 9) in Yokohama, Japan.

Following the minister’s meetings, Nigeria and Japan expressed their readiness to align investment plans to unlock Nigeria’s vast mineral resources.

Alake assured Japanese investors that President Bola Ahmed Tinubu’s reforms, including subsidy removal, a stabilised exchange rate, and major rail, road, and waterway projects, have created a more enabling environment for businesses.

“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,” he said.

The minister noted that recent electricity sector reforms would enable industries to generate and manage their own power supply.

He also assured Japanese mining companies of benefiting from tax holidays and duty waivers on equipment, while urging them to invest in local processing of minerals before export, in line with Nigeria’s value-addition policy.

The meetings also featured the Nigeria Solid Minerals Company (NSMC), represented by its CEO, Martins Imonitie. The NSMC, designed to take equity stakes in mining projects, is expected to serve as a trusted partner to strengthen investor confidence.

A statement yesterday in Abuja by Alake’s Special Adviser on Media, Kehinde Bamigbetan, said the meetings focused on attracting Japanese mining companies into Nigeria’s solid minerals sector.

According to the statement, the President of JOGMEC, Mr. Michio Daito, acknowledged Nigeria’s rich mineral deposits but stressed the need for more clarity on economic conditions before Japanese firms commit to large-scale investments.

Daito noted that some issues, such as power supply, tax incentives, labour, free trade zones, and infrastructure are critical to reducing investment risks.

Explaining that Japanese mining firms rely on JOGMEC to make investment decisions in foreign countries, the organisation’s president sought to have information on the state of infrastructure in Nigeria that supports mining.

Earlier engagements with Japanese trading giants, Mitsubishi Corporation, Sumitomo Corporation, and Mitsui & Company, had signaled growing interest in Nigeria’s mining industry, with final commitments expected after JOGMEC’s approval.

The meeting concluded with both parties agreeing to strengthen technical exchanges and foster direct collaboration between JOGMEC and NSMC to accelerate concrete investment outcomes.

The rise of Nigeria to its rightful place in the comity of nations has begun, the president declared yesterday.

President Bola Ahmed Tinubu assured Nigerians in the Diaspora that the country’s economy is stabilizing, opportunities are expanding, and reforms are yielding visible results.

He spoke during an interactive session with members of the Nigerian community in Japan.

The session was held on the sidelines of the ninth Tokyo International Conference on African Development (TICAD9).

The President said his administration is determined to reverse negative trends and make the country a land of prosperity for its citizens at home and abroad.

“All I want to do is assure you that things are stable, the economy is stabilized, the opportunity is immense, people are coming back, we are reversing the medical tourism in every way that we could, and I can give you the assurance we are seeing the beginning of Nigeria rising,” Tinubu said to an applause.

He reminded the Diaspora audience that while it is a personal right to remain abroad, the nation still depends on their input to achieve its developmental aspirations.

He said government’s priority is to create an environment where every citizen, home or abroad, can feel the positive impact of change.

“I am happy to listen to you for whatever. Happy to report to you that many of our people are coming back home. Yes, for economic reasons, some people might decide to stay away, it’s a fundamental right of the individual, but for the economic growth and opportunity that is available in Nigeria, don’t stay away. Your contribution is very much needed. If you stay away, who will build it?” the President asked.

Tinubu emphasized that his government is committed to creating an environment where every Nigerian can thrive, noting that governance is about “thinking and doing,” promoting unity, stability, and progress.

He urged Nigerians abroad to remain good ambassadors of their country and to reflect positively on its image, stressing that “poor comments and negative reflections will not help the growth of Nigeria.”

The Minister of State for Industry, Trade and Investment, John Enoh, who also addressed the gathering, highlighted the bold reforms undertaken by the Tinubu administration since its first day in office.

He recalled that the World Trade Organization’s Director-General, Dr. Ngozi Okonjo-Iweala, had recently commended Nigeria’s policy direction, describing the reforms as the foundation of future growth.

According to him, we have a President who is undoubted, who is focused, and who is pursuing the reforms that our country deserves.

Khalil Halilu, Executive Vice Chairman of the National Agency for Science and Engineering Infrastructure (NASENI), reported that Nigeria is now witnessing accelerated technology transfer as a direct result of presidential policies.

He said that more than 1,000 applications had been received globally for investment in Nigeria’s technology and industrial sectors, with over $2 billion already committed and factories set to be established in partnership with Japanese firms.

From the private sector, Wale Tinubu, Group Chief Executive Officer of Oando Plc, praised the administration’s economic reforms, especially the liberalization of the exchange rate and removal of fuel subsidies.

He said these decisions had improved government revenues, boosted foreign investment, and spurred growth across sectors ranging from oil and gas to mining, telecommunications, and small enterprises.

“We’ve never experienced the closeness with government as we do today,” he remarked.

Also, Mrs. Florence Akinyemi Adeseke, Nigeria’s Chargé d’Affaires in Tokyo, hailed the contributions of Nigerians in Japan, particularly academics and professionals excelling in various fields.

She acknowledged the challenges posed by a few nationals in breach of immigration laws.

She described the meeting as an opportunity to strengthen bonds with the Diaspora community under Nigeria’s new foreign policy thrust.

The President of the Nigerian Union in Japan, Emeka Egbogota, welcomed Tinubu to the “Land of the Rising Sun” on behalf of the community, describing his presence at TICAD9 as a source of pride and unity.

He praised the President’s vision for a prosperous Nigeria driven by technology, entrepreneurship, and inclusive growth, pledging the community’s support for his administration’s agenda.

The interactive meeting ended with a renewed sense of partnership between the government and its citizens abroad, with President Tinubu reiterating his commitment to ensuring that every Nigerian has a role to play in the unfolding story of the country’s progress.

The Department of State Services (DSS) and Police have arrested a suspected People’s Democratic Party (PDP) agent, Shehu Fantagi, with about N30 million allegedly earmarked for vote-buying ahead of today’s by-elections in Kaduna State.

Fatangi was picked up on Friday evening at a hotel in the Kaduna metropolis, where he was said to be coordinating the distribution of the funds meant to influence voters in the Chikun/Kajuru Federal Constituency election.

Reliable security sources confirmed that the suspect was caught in possession of cash running into tens of millions, allegedly intended to compromise the integrity of the polls.

The Kaduna State Police Command also confirmed the arrest.

Its spokesman DSP Mansir Hassan, in a statement on Saturday said: “In a sustained and collaborative effort by security agencies to ensure that the forthcoming by-elections in Kaduna State are conducted peacefully and without interference from criminal elements, operatives of the Nigeria Police Force in conjunction with the Department of State Services (DSS) have successfully apprehended vote buyer in Kaduna.”

According to him: “At about 0330hrs of today, arrested one Shehu Aliyu Patangi at a popular hotel located along Turunku Road in Kaduna metropolis and recovered a total cash sum of Twenty-Five Million, Nine Hundred and Sixty-Three Thousand Naira (₦25,963,000) from the suspects, believed to be earmarked for the purpose of inducing voters to compromise the electoral process.

“Preliminary investigations revealed that the suspect had planned to use the said amount to bribe eligible voters. On interrogation the suspect confessed to the crime and pleaded for leniency.

“The Commissioner of Police, CP RABIU MUHAMMAD psc, mni, expresses appreciation to the other sister agencies for the synergy and swift collaborative action. He warns, in the strongest terms, that anyone, regardless of status, found attempting to undermine the electoral process will face the full wrath of the law.

“The Kaduna State Police Command reassures residents of its commitment to providing maximum security before, during and after the elections, and calls on the good people of Kaduna State to go out and exercise their franchise peacefully and lawfully without fear or intimidation.”