By Mary Onyia
Nigeria’s mining sector is attracting renewed global attention, with senior U.S. officials and Nigerian authorities emphasising stronger partnerships to unlock critical mineral investments and drive sustainable growth.
Senior Vice President and Global Head of Origination at the U.S. Export-Import Bank (EXIM), Sarah Whitten, stated that successful collaboration in the mining sector depends on firm commitments from participating governments and the ability to sustain agreements beyond political cycles. She noted that while American banks are ready to support projects, their primary role is to catalyze and unlock private sector capital.
“There are institutions positioned to directly finance critical minerals projects. If we succeed in unlocking that capital, we have fulfilled our mandate,” Whitten said.
Reaffirming Nigeria’s readiness for serious investors, the Minister of Solid Minerals Development, Dele Alake, called for strict adherence to local laws and regulations.
In a statement issued by his Special Assistant on Media, Segun Tomori, the minister highlighted key incentives designed to attract foreign investors, including tax waivers on imported mining equipment and full repatriation of profits after due payment of royalties and taxes.
The Minister who spoke at a high-level panel titled “Critical Minerals in Africa: Meeting Global Demand” at the ongoing Powering Africa Summit in Washington, D.C., emphasised that sustainable partnerships with African nations remain the fastest route to meeting the rising global demand for critical minerals
The Minister further revealed that the government has taken significant steps to de-risk and sanitize the mining environment, making it more attractive for Foreign Direct Investment (FDI). According to him, Nigeria has attracted over $2.6 billion in FDI into the sector within the last two and a half years.
The Minister also stressed the importance of establishing regional energy hubs across Africa to power mining activities and boost cross-border industrialization.
In attendance were the Guinean Minister of Energy, Hon. Sekou Camara; Managing Partner, Denham Capital, Carl Tricoli; CEO, ReElement Technologies Africa, Ben Kinkaid; Senior Vice-President, Global Head of Origination, US Export-Import Bank (EXIM), Sarah Whitten; Chief Strategic Development Officer, TechMet, Heliana Matza, and Partner, McMcDermottill & Schulte, Jahan Khandokar, as well as the minister, Dele Alake