Alake advocates regional hubs to power, industrialise Africa’s mining sector

*Dr. Dele Alake, Nigeria’s Minister for Solid Minerals Development, discloses the country’s solid minerals attracted over $2.6 billion Foreign Direct Investment into the industry within two years

Gbenga Kayode | ConsumerConnect

Dr. Dele Alake, Honourable Minister for Solid Minerals Development (MSMD), has urged the United States (US) and African countries to prioritise the establishment of regional energy hubs as a strategic pathway to accelerate cross-border mining industrialisation.

Alake said this measure will strengthen the supply chain of critical minerals essential for the global energy transition.

ConsumerConnect reports the Minister stated this while speaking at a high-level panel on the theme: “Critical Minerals in Africa: Meeting Global Demand”, at the ongoing Powering Africa Summit in Washington, D.C., United States.

Alake emphasised that sustainable partnerships with Africa remain the fastest route to meeting rising global demand for critical minerals.

Why development of regional industrial corridors by Alake

The Minister further advocated the development of regional industrial corridors akin to the Lobito Corridor.

He noted that similar belts, such as the Lagos–Abidjan corridor, spanning Nigeria, Benin, Togo, Ghana, and Côte d’Ivoire, as well as the Walvis Bay Corridor linking Southern and Central Africa to global markets, could unlock vast mineral potential across the continent.

Such corridors, Alake stressed, would serve as economic catalysts by driving infrastructure development, enhancing energy access, and promoting regional integration.

Segun Tomori, Special Assistant to the Minister on Media, in a statement Sunday, March 22, 2026, also noted Dr. Alake said: “The development of nuclear power in one West African country, for instance, can service an entire corridor. With that in place, local beneficiation, technology transfer, manufacturing, and cross-border industrialisation will naturally follow.

“If three to five such corridors are developed in Africa, we would significantly advance industrialisation across the continent, creating a win-win outcome for both Africa and the West.”

Mining sector as key driver of Nigeria’s economic diversification

Highlighting the impact of reforms under the administration of President Bola Ahmed Tinubu, the Minister explained that strengthened governance structures, improved regulatory frameworks, digitisation of licensing processes, and enhanced Ease of Doing Business (EoDB) have repositioned Nigeria’s mining sector as a key driver of economic diversification.

Alake further explained that reforms introduced in the last two-and-a-half years could guarantee mineral title holders secure tenure, thereby providing the long-term stability required for investment decisions.

Besides, the said the Federal Government was expanding the generation of scientific and internationally certified geological data to support informed decision-making by both local and international investors.

As regards, Minister Alake acknowledged current challenges within the sector, but also noted significant progress through the establishment of Mining Marshals.

He revealed that over 350 suspected illegal miners, including foreign nationals, had been arrested within a year, with over 150 currently undergoing prosecution.

According to him, this development has sent the right signals that Nigeria means business these days.

Reaffirming Nigeria’s openness to genuine investors, Alake emphasised strict compliance with local laws and regulations while outlining key investment incentives.

He noted these include tax waivers on imported mining equipment, and full repatriation of profits after due payment of royalties and taxes.

The Minister averred: “We have successfully de-risked and sanitised the mining environment, making it conducive to Foreign Direct Investment (FDI).

“Within the last two and a half years, we have attracted over $2.6 billion in FDI into the sector.”

In her remarks, Sarah Whitten, Senior Vice-President and Global Head of Origination at the U.S. Export-Import Bank (EXIM Bank), noted that the mining sector requires successful collaborations contingent on the commitment of participating governments and the sustainability of agreements beyond political cycles.

Whitten stated: “American banks are ready to support projects, but our role is to catalys.e 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.”

Alake, during the panel session, as well featured 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, Mc Dermott Will & Schulte, Jahan Khandokar.

Kindly Share This Story