Nigeria and Japan have agreed to deepen cooperation in the solid minerals sector through the exchange of technical information and direct engagement between their companies.
The Minister of Solid Minerals Development, Dr. Dele Alake, announced this in a statement after deliberations with officials of the Japan Organisation for Metals and Energy Security (JOGMEC) on the sidelines of the 9th Tokyo International Conference for African Trade and Development (TICAD) in Yokohama.
Both parties pledged to develop plans that would encourage Japanese companies to invest in Nigeria’s mining sector by providing them with economic data to assess investment risks.
The meeting underscored the potential for a long-term strategic partnership, with Dr. Alake stating that the reforms under President Bola Tinubu’s administration have improved the investment climate in the sector.
Dr. Alake urged JOGMEC to invest in mineral extraction and processing in Nigeria before export, in line with government policy on local value addition.
He assured that Japanese firms would benefit from duty waivers on mining machinery, tax holidays, and improved infrastructure projects in rail, road, and water transportation.
The JOGMEC meeting followed earlier talks Dr. Alake held with major Japanese corporations, including Mitsubishi Corporation, Sumitomo Corporation, and Mitsui & Company, which showed growing interest in Nigeria as a mining destination.
