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Investing in Nigeria’s mining sector highly profitable, says Alake
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.
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Tinubu Commends APC Primaries, Describes Exercise as Victory for Internal Democracy
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…President expresses satisfaction with governors’ handling of exercise
…Says party members’ support places greater responsibility on him
President Bola Ahmed Tinubu on Saturday described the ongoing presidential primaries of the All Progressives Congress (APC) as a demonstration of internal democracy and grassroots participation, expressing satisfaction with the conduct of the exercise across the country.
The President spoke with journalists after participating in the primary election at Ward L2, Ikoyi, Lagos, where he commended state governors and party officials for managing the process.
President Tinubu, who arrived at the venue alongside the First Lady, Senator Oluremi Tinubu, was received by Lagos State Governor, Babajide Sanwo-Olu, Lagos APC Chairman Pastor Cornelius Ojelabi, Minister of Industry, Trade and Investment Dr. Jumoke Oduwole, former Minister of Finance Wale Edun, and other party leaders.
According to him, the exercise has so far reflected the democratic ideals of inclusiveness and orderly participation within the ruling party.
“This is a demonstration of internal democracy and it has been going very well according to plan.
“This is politics, grassroots politics, where every member of the party has a right to participate and be involved. It’s to ensure that we have an internal democracy and it’s peaceful and well-organized”, Tinubu said.
Responding to questions on whether he was satisfied with the manner governors had handled the process in their respective states, the President said the conduct of the primaries had met expectations.
“Today, I am very satisfied, very, very satisfied that these governors have done well in their various states.
“In fact, from the ward congresses to local government congresses, to the delegate accreditation, validation, members register, and certification of the electoral process, it has been all very well. At least, you will score democracy at a high level”, he said.
The President also reacted to the large turnout and expressions of support from party members and supporters at the venue, saying the show of confidence increased the responsibility on him.
“I’m just excited. They challenge me more,” Tinubu said.
Tinubu reiterated that the APC remained committed to transparent and inclusive democratic processes that allow party members at the grassroots to freely determine their leaders and representatives.
He further commended electoral officials, party leaders and security agencies for ensuring a peaceful and credible exercise, while urging Nigerians to continue supporting democratic institutions and national unity.
The President also reaffirmed his administration’s commitment to democratic ideals, good governance and policies aimed at improving the welfare of Nigerians while strengthening political stability across the country.
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Truck Loaded With Stolen Rail Materials Trapped in Jos, Exposes Growing Sabotage
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Concern is mounting over the persistent vandalism of railway infrastructure across Nigeria following another disturbing incident in Jos, Plateau State.
A truck reportedly conveying stolen railway materials was said to have become stuck along the Kuru axis, drawing attention to the activities of vandals sabotaging critical transportation infrastructure in the country.
The incident has renewed calls for urgent government intervention as experts warn that continued attacks on railway facilities could negatively affect national development and public safety.
Railway tracks and related materials are regarded as essential national assets designed to support economic activities, improve transportation and boost regional connectivity. Their destruction, analysts say, amounts to economic sabotage and a setback to Nigeria’s infrastructure development goals.
There are growing fears that criminal networks are increasingly targeting railway installations in parts of North Central and North East Nigeria, threatening train operations and exposing commuters to danger.
Stakeholders are now urging authorities to intensify monitoring, deploy advanced security systems and strengthen enforcement measures to curb the menace.
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Ekiti APC: Controversy Trail Cyril Fasuyi’s Second-Term Ticket as Fayemi, Oyebanji Alliance Sparks Debate
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There are growing political discussions within the Ekiti State chapter of the All Progressives Congress (APC) following allegations surrounding the emergence of Senator Cyril Fasuyi for a second term ticket.
Some party members and political observers in the state have alleged that Governor Biodun Oyebanji and former Governor Dr. John Kayode Fayemi remain politically aligned despite public perceptions suggesting otherwise. According to the claims, the relationship between Governor Oyebanji and Fayemi remains cordial and influential in the state’s political structure.
Critics further alleged that Senator Cyril Fasuyi was advised to reconcile with Fayemi in order to secure support for his return bid, a move they claim eventually strengthened his chances of getting the ticket.
The development has reportedly generated concerns among some APC stakeholders, who believe certain political interests are working behind the scenes to shape the future direction of Ekiti politics ahead of upcoming political contests.
The allegations also claim that internal power struggles within the party may affect relationships with key figures at the national level, particularly supporters loyal to President Bola Ahmed Tinubu.
However, no official statement has been issued by Governor Oyebanji, Dr. Fayemi, or Senator Fasuyi regarding the allegations.
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